Azul Brazilian Airlines and Correios (Brazil’s Postal Service) in December 2017 signed a memorandum of understanding (MOU) for the creation of a private integrated logistics solutions company with a new business model, to contribute significantly to Brazil’s growth.
The new company will have a 50.01% ownership stake of Azul and 49.99% of Correios, and will offer integrated logistics services for cargo transportation, willing to become the best logistics platform for e-commerce in the country.
With the existing demand already served by Azul and Correios, the new company will handle roughly 100 thousand tons of cargo per year. Both companies will have cost savings, operating efficiency and revenue gains, improving the service offer to the consumer.
The memorandum of understanding will be submitted to the Brazilian authorities and appropriate government bodies for approval. Only after their consent, the new company will be established and its activities are expected to begin in the first half of 2018.
The entity is expected to operate Boeing 737-400F freighters. It is now recruiting pilots.