{"id":4002,"date":"2019-03-11T09:31:20","date_gmt":"2019-03-11T14:31:20","guid":{"rendered":"http:\/\/planesintheair.com\/?p=4002"},"modified":"2019-03-11T09:31:26","modified_gmt":"2019-03-11T14:31:26","slug":"avianca-brasil-to-sell-some-assets-to-azul","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=4002","title":{"rendered":"Avianca Brasil to Sell Some Assets to Azul"},"content":{"rendered":"\n

SAO\n PAULO, March 11 (Reuters) – Brazilian airline Azul SA said on Monday it\n intends to pay $105 million for certain assets held by Avianca Brasil, \nwhich was headed to court to face aircraft lessors as it seeks to keep \noperating planes despite mounting late payments.<\/p>\n\n\n\n

Azul\n said the non-binding purchase agreement would involve 70 pairs of \nslots, which grant airlines the rights to operate regular flights \nbetween airports.<\/p>\n\n\n\n

Azul\n already operates two Airbus A320 planes that were previously used by \nAvianca Brasil until they were repossessed in December due to \noutstanding payments. Under the agreement announced on Monday, Azul said\n it could end up operating up to 30 Airbus planes currently in use by \nits rival.<\/p>\n\n\n\n

Azul\n did not disclose how it would be able to take over the leases and the \nairline did not immediately respond to a request for comment.<\/p>\n\n\n\n

Avianca\n Brasil filed for bankruptcy protection in December in an attempt to \nstall aircraft lessors who had sued to repossess its fleet, two months \nafter the carrier started missing payments on many of its aircraft.<\/p>\n\n\n\n

The\n Avianca Brasil hearing scheduled for Monday in an appeals court will \ndeal with a request from aircraft lessors, including Aircastle, that \nplanes be repossessed as soon as possible, after a bankruptcy judge \nextended the airline’s control over the aircraft until at least April.<\/p>\n\n\n\n

Since filing for bankruptcy, Avianca Brasil has secured a $75 million loan from hedge fund Elliot Management.<\/p>\n\n\n\n

(Reporting by Marcelo Rochabrun and Ana Mano Editing by Chizu Nomiyama and Bill Trott)<\/p>\n\n\n\n

\"\"
Azul Linhas Aereas Embraer 195 at Curitiba Airport, Brazil<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Brazilian airline Azul SA said on Monday it intends to pay $105 million for certain assets held by Avianca Brasil, which was headed to court to face aircraft lessors as it seeks to keep operating planes despite mounting late payments.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[798,797,89,2203,1397,868,1103],"tags":[220,47,3007,464,420,275,925,142,926,687,3736,2052,3139,3101,2077,412,1561,1686,3008,1288,1289,291,1658,1916],"class_list":["post-4002","post","type-post","status-publish","format-standard","hentry","category-airbus-news","category-airline-news","category-aviation-news","category-finance-news","category-stock-news","category-transportation-news","category-travel-news","tag-a320","tag-airbus","tag-aircastle","tag-aircraft","tag-airline","tag-avianca","tag-azul","tag-bankruptcy","tag-brasil","tag-brazilian","tag-elliot","tag-fund","tag-hedge","tag-lessor","tag-management","tag-news","tag-planes","tag-protection","tag-repossess","tag-reuters","tag-sa","tag-slots","tag-transportation","tag-travel"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/4002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4002"}],"version-history":[{"count":1,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/4002\/revisions"}],"predecessor-version":[{"id":4004,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/4002\/revisions\/4004"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}