Brazil's Azul May Launch IPO In 2011; Focus On Profit
SAO PAULO -(Dow Jones)- Brazilian low-cost, low-fare airline Azul Linhas Aereas SA may hold an initial public offering of shares in 2011 on the Sao Paulo Stock Exchange, the BMFBovespa, Azul President Pedro Janot said Tuesday."We can hold an IPO in 2011 or in 2012, but right now our focus is on the company's profit," Janot told reporters during a press conference in Sao Paulo.
According to the executive, the company is likely to post its first net profit this year, although he declined to provide more details.
Already Brazil's No. 3 carrier, Azul currently commands 5.43% of domestic commercial air traffic with a fleet of 18 jets.
Source: nasdaq.com
