U.S. markets close in 1 hour 47 minutes
  • S&P 500

    4,460.66
    +65.02 (+1.48%)
     
  • Dow 30

    34,842.53
    +584.21 (+1.71%)
     
  • Nasdaq

    15,066.41
    +169.56 (+1.14%)
     
  • Russell 2000

    2,264.94
    +46.38 (+2.09%)
     
  • Crude Oil

    73.30
    +1.07 (+1.48%)
     
  • Gold

    1,752.60
    -26.20 (-1.47%)
     
  • Silver

    22.69
    -0.22 (-0.95%)
     
  • EUR/USD

    1.1750
    +0.0054 (+0.46%)
     
  • 10-Yr Bond

    1.3930
    +0.0570 (+4.27%)
     
  • GBP/USD

    1.3734
    +0.0114 (+0.84%)
     
  • USD/JPY

    110.1970
    +0.4190 (+0.38%)
     
  • BTC-USD

    44,616.37
    +724.57 (+1.65%)
     
  • CMC Crypto 200

    1,119.02
    +10.09 (+0.91%)
     
  • FTSE 100

    7,078.35
    -5.02 (-0.07%)
     
  • Nikkei 225

    29,639.40
    -200.31 (-0.67%)
     

Brazil's Azul says can drive airline sector consolidation, hires advisers

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

SAO PAULO, May 24 (Reuters) - Brazilian airline Azul SA said late on Monday it has hired advisers to look at consolidation opportunities within the region and that it was in a strong position to drive that consolidation.

Azul also said Chile's LATAM Airlines Group had ended a codeshare agreement for domestic flights in Brazil that was launched last year after the pandemic upended air travel - a move that Azul believes was a reaction to its exploration of consolidation opportunities.

"Azul is emerging from this crisis in a leadership position in terms of liquidity, network recovery and competitive advantages. Our plans are unchanged and I am confident that we are in the best position to pursue strategic alternatives at this point in time," CEO John Rodgerson said in a statement.

LATAM filed for bankruptcy protection in May of last year and is going through a court-supervised restructuring. (Reporting by Marcelo Rochabrun; Editing by Edwina Gibbs)