Passaredo announces the acquisition of MAP Linhas Aereas

Brazilian domestic airline Passaredo has announced the purchase of 100% of shareholding in MAP Linhas Aereas. The value of the transaction was not disclosed.

With the closing of the transaction, Passaredo will acquire 12 slots at Sao Paulo Congonhas airport, which were recently allocated the MAP as a result of the Avianca Brazil bankruptcy.

Passaredo says its goal is to maintain all current operations of MAP, as well as all jobs and operational bases. Additionally, MAP's headquarters will remain in Manaus, but the name of the airline will change to "Voe Pass".

Passaredo now plans to dedicate part of its fleet to the North of Brazil, flying out of Manaus, according to president José Luiz Felício Filho.

The total fleet of both airlines will consist of 13 ATRs - three of which will arrive in the next 45 days.