JetBlue founder to take Brazilian airline Azul public

Brazil Daily 29 May 2013
David Neeleman, the founder of US carrier JetBlue, has filed plans to take his Brazilian airline public in a deal that is set to raise about R$1bn (US$487m) and help bolster his position in one of the industry’s fastest-growing markets.
Azul, which Mr Neeleman set up in 2008, will sell both new and existing shares as well as American Depositary Receipts (ADRs) in a simultaneous offering in the US, according to the preliminary prospectus released on Monday.
The São Paulo-based company is planning to raise about R$1bn, according to one person involved in the transaction. Local media reported that the offer could be concluded as early as July.
Banco Santander will lead the offering, while Morgan Stanley, Goldman Sachs, Itaú BBA and Banco do Brasil will help manage the operation.
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