Passaredo acquires MAP Linhas Aereas

21 August, 2019

Passaredo announced (21-Aug-2019) the completion of the process to acquire 100% of MAP Linhas Aereas. Passaredo stated that the acquisition "consolidates Passaredo's operations in Sao Paulo, obtaining scale gains and synergy necessary for operations in Sao Paulo Congonhas Airport, increasing to 26 daily frequencies at the airport. Passaredo will maintain all of MAP's current operations and job posts including at MAP's headquarters in Manaus. Passaredo president Jose Luiz Felicio Filho stated: "We always had interest in [operating in Brazil's] North region, but the logistical difficulty never allowed us to expand into those markets. Now, with a complete structure in Manaus, including maintenance, we will be able to dedicate a fleet of aircraft to take over regular operations in the North". Passaredo will expand its operations in the North after it commences operations at Sao Paulo Congonhas Airport on 27-Oct-2019. Mr Felicio added that each company would have needed to build up their own structure in Sao Paulo Congonhas, a double up investment which will not be necessary. [more - original PR - Portuguese]