January 15, 2015 / 7:40 PM / 4 years ago

Brazil's Azul to request permission to delay IPO, source says

SAO PAULO, Jan 15 (Reuters) - Azul SA, Brazil’s third-biggest airline, will seek permission from securities industry watchdog CVM to delay plans to list its shares in São Paulo, a source with direct knowledge of the situation said.

The request will be filed as early as Thursday, according to the source, who requested anonymity because the decision is private. Last month, Azul disclosed plans to list preferred shares on the Level 2 chapter of the São Paulo Stock Exchange, and American depositary shares on the New York Stock Exchange.

Azul had hired the investment banking unit of Banco Santander Brasil SA to manage the initial public offering. Joint bookrunners included Itaú BBA, Morgan Stanley & Co, Goldman Sachs Group Inc and Banco do Brasil SA.

Azul, which was created by JetBlue Airways Corp founder David Neeleman, declined to comment. (Reporting by Aluísio Alves; Additional reporting by Guillermo Parra-Bernal; Editing by Alan Crosby)

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