Brazilian regional airline Passaredo has announced the purchase of competitor MAP Linhas Aéreas, which operates in the Amazon region. The value of the deal was not disclosed.
With the acquisition of MAP, Passaredo will operate in the northern region of Brazil, in addition to increasing its operations in the state of São Paulo, the richest and most populous in the country. At the end of July, both companies took over part of the slots at Congonhas airport that belonged to Avianca Brasil. With the deal, Passaredo, which is renamed VoePass, has 26 daily departure and arrival times at the terminal.
Passaredo said it intends to maintain MAP’s current operations, as well as jobs at the airports of the Amazon company, which currently serves 14 destinations in the states of Amazonas and Pará.
“We have always had a lot of interest in the Northern Region, but the logistical difficulty has never allowed us to expand into those markets. Now, with a complete structure in Manaus, including maintenance, we will be able to dedicate a fleet of aircraft to take over regular operations in the North,” said José Luiz Felício Filho, CEO of Passaredo.
Felício confirmed that the company will start its flights in Congonhas Airport from October 27 and will soon expand destinations in the northern region. With the incorporation of MAP, Passaredo will fly to 28 cities in Brazil and by the end of this year plans to launch nine more operations.
Together, Passaredo and MAP have a total of 13 ATR turboprop aircraft (ATR 42 and ATR 72 models), of which 10 are currently in operation and three additional are expected to arrive in the next 45 days.
Little known even in Brazil, MAP Linhas Aéreas debuted in the market in 2013 and in recent years has been the fastest growing national airline in passenger traffic. In 2018, the company recorded a 20% increase.
Founded in 1995, Passaredo belongs to a road haulage group and has faced serious difficulties in recent years and even requested bankruptcy protection in 2012 which was only completed in 2017. That same year the company was close to being acquired by the road group Itapemirim, but the negotiation did not advance.