BNDES Wants to Sign Agreement with Two Brazilian Airlines This Week

Azul prepares an operation to use public bank lines of credit, and Gol assesses other funding sources.

RIO DE JANEIRO, BRAZIL - According to sources close to the government, BNDES (Brazil's National Development Bank) expects to be ready to sign pacts with Azul and Gol by the end of this week, calling for financial operations that could result in a capitalization of up to R$2 billion (US$450 million) for each company. The development bank will be able to supply up to R$1.2 billion per company, equivalent to 60 percent of the resources.

Azul hopes to close the deal soon. However, in Gol's case, the company has been looking for other avenues to . . .

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