Brazil's loans to airlines would only be finalized in May: sources [Reuters]
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Source: Reuters
Brazil's loans to airlines would only be finalized in May: sources RIO DE JANEIRO (Reuters) - Government loans for Brazilian airlines battered by the coronavirus crisis would only be ready in May, and not later this month as some had hoped, two sources familiar with the matter told Reuters on Friday. The loans have been publicly announced and are being coordinated by Brazil’s state development bank BNDES. Gol Linhas Aereas Inteligentes ( GOLL4.SA ) and Azul SA ( AZUL.N ) have confirmed the talks and suggested loans of around 3 billion reais ($569.10 million) per carrier. The sources, speaking on condition of anonymity, said LATAM Airlines ( LTM.SN ) has also asked for help from BNDES. Gol, Azul and LATAM control virtually all of Brazil’s commercial passenger flights. Gol Chief Executive Paulo Kakinoff said earlier this month that any aid from BNDES would take up to two weeks to sort out. But the sources said the timeline has been pushed back until May. The sources added that the
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