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The airline GOAL goes out to purchase MAP Linhas Aéreas in a complex global panorama, but with a promising future in Brazil. Photo of AerolatinNews.
Amidst the purchase rumors of LATAM Airlines Brazil by the increasingly powerful Blue, The Brazilian airline market moved again.
Despite the complex situation of the global air market, on Brazil the news continues and silently, GOAL goes for the purchase of MAP, a small ATR aircraft operator operating primarily in Manaos, north of Brazilian territory.
VOEPASS Linhas Aereas controllers announced this Tuesday 8 the formalization of a purchase and sale contract for the company MAP Linhas Aéreas, with GOL Linhas Aéreas as buyer. The negotiation implies that GOL assumes all MAP operations, including the 26 slots at Congonhas airport. Closing of the deal is subject to conditions precedent, including approval by CADE and ANAC.
MAP currently has a fleet of seven aircraft of the models ATR 72 and ATR 42, that serve 11 destinations in the northern region of Brazil, in addition to 26 slots to define the strategic network from Congonhas Airport, in São Paulo. All flights currently in operation will be maintained without any alteration to VOEPASS' own network.
For VOEPASS, The sale of MAP is strategic and represents a step to reduce its debts, improve cash management and will allow, in the medium term, its economic recovery.
«Planning in 2019 indicated a strong recovery of VOEPASS since the first half of 2020. Nevertheless, with the pandemic, all expectations were disappointed, and the fight for the company's survival began, going through the worst crisis in the history of world aviation. With the sale of MAP, in the medium term, "We will generate a more balanced scenario for cash and also for our air operation.", emphasizes José Luiz Felício Filho, General manager of the company.
The purchase and sale operation was based on the assumption, by GOL, of MAP's financial commitments, in addition to the expansion of capacity purchase operations (CPA) by VOEPASS. Currently, the company operates CPA contracts for GOL with flights to 15 destinations in all regions of Brazil.
For Eduardo Busch, director general de VOEPASS, The sale of the asset is essential for the future of the company.
«At first, little will change in the management of VOEPASS, since there will be no contribution of resources to the company's cash. There will be the exemption of some short-term debts that will result in better cash management. CPA operations, in the medium term, will allow the company to recover its financial health and meet all its commitments, thus providing an excellent opportunity for the economic recovery of the markets, with the expansion of the regional aviation network in Brazil."
VOEPASS reiterates that all air operations carried out in the Northern Region are maintained, without changes, and that maintains its expansion plan in this location in Brazil, working to identify infrastructure bottlenecks together with SAC and ANAC so that it can expand served destinations in the states of Pará, Amazonas, Acre and Rondônia.
GOAL and VOEPASS will immediately consult regulatory agencies for approval of the purchase and sale transaction, without date to complete and without indicating the values of said purchase.
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