Azul plans to attract another US$ 35 million
Valor Econômico
After getting US$ 200 million from foreign and national investors to set up the bases of the company last year, Azul Linhas Aéreas plans to raise another US$ 35 million with its partners. The money will be used to develop a training center and the system of live television on the airplanes, among others things. "This capital increase was already foreseen and is in line with our business plan", affirms Gerald Lee, officer of corporate affairs of the airline. The injection of funds should be made exclusively by the current shareholders of the company, that is, there will be no entrance of new shareholders. Azul's main shareholder is businessman David Neeleman, with 80% of the ordinary shares (with voting rights).
According to Lee, the TV system to be installed on the airplanes of Azul requires investments to be adapted to Brazil. The company will use the satellite transmission technology of the American Live TV that allows access to 36 channels. Azul believes the TV program would be an important attraction - especially in a country where the population regularly follows soap operas and soccer games - and it would be a differential in relation to the competition. TAM, the only Brazilian airline that offers video content on its flights, displays only recorded programs. Azul plans on installing the service on its aircrafts in 2010.
A part of the funds from the capital increase will also be directed to the training center of the company, which will have a flight simulator to train pilots of the Embraer 190 aircraft. In the meantime, Azul trains its pilots in the USA.
The airline initiated its flights in December and is the third largest airline of the country. In June, it had a 4.3% market share in the market of domestic flights, behind TAM, with 44.7%, and Gol, with 42.2%. With 12 190 and 195 Embraer aircrafts, Azul has its base of operations at the airport of Viracopos, in Campinas (SP). It has a total order of 76 airplanes of the national manufacturer.