Azul, a fast growing Brazilian airline founded by JetBlue founder David Neeleman, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. The $100 million value is likely just a placeholder; the IPO is expected to raise up to $500 million.
The Sao Paulo, Brazil-based company, which was founded in 2008 and booked $1.7 billion in sales for the 12 months ended March 31, 2013, plans to list on the NYSE and the Sao Paulo Stock Exchange and has yet to announce a ticker. Azul filed confidentially in March 2013. Morgan Stanley, Itau BBA, Goldman Sachs, Santander and Banco do Brasil are the joint bookrunners on the deal. No pricing terms were disclosed.
