Brazil’s Azul CEO Sees Airline’s 2010 Traffic Up 50%
December 9, 2009 | Airline Flight, Airline Service, Airlines Companies
Brazilian low-cost, low-fare airline Azul Linhas Aereas SA will transport 50% more passengers in 2010 than in the current year, continuing its swift expansion, Chief Executive David Neeleman said Thursday.
Since beginning operations in late 2008, the airline grew to take 4.4% of Brazil’s $6.5 billion civil aviation market in October.
“We will continue to grow significantly faster than the overall market next year,” Neeleman said on the sidelines of an industry conference in Sao Paulo.
Neeleman, founder of JetBlue Airways Corp. (JBLU) in the United States, predicted the Brazilian airline market will expand 10% to 15% in 2010, returning to pre-economic crisis growth.
Azul is maintaining its fleet expansion plans. It will add seven new Embraer (ERJ, EMBR3.BR) jets next year to its existing fleet of 14.
“But we could still expand much faster than that,” he added.
The airline was struggling to raise funds for the new planes amid the wider financial crisis, but Neeleman said that the company has now secured $235 million to buy the aircraft.
Neeleman said Azul will add three new destinations in 2010 to its current domestic network of 16 cities.
The company is in “no hurry” to go public, he added. It is now privately held.
Meanwhile, it has no plans to add international routes.
