Brazil airline Azul could bid for Avianca Brasil's assets after all

Azul has registered to participate in a bankruptcy auction for the assets of struggling carrier Avianca Brasil scheduled for next week, potentially walking back a previous decision not to participate. The airline confirmed through a representative that they had registered, although he said no decision had been made whether to actually place a bid. The bankruptcy auction is set for Tuesday. Avianca Brasil filed for bankruptcy in December and will auction some of its most coveted airport slots, which grant airlines the right to operate flights out of crowded airports. Brazilian newspaper Valor Economico first reported Azul’s registration earlier on Thursday. Avianca Brasil, which is the country’s fourth largest airline, has been so strapped for cash in recent months it has been kept afloat by loans from its competitors, who sought to keep the airline alive until the auction. If Avianca Brasil ceased operations before the auction, it would also lose its slots. Its fleet has been dwarfed from a high of 60 planes late last year to fewer than 10 in late April.<br/>