Both TAP and Jet Blue Airways are studying the documentation relating to the forthcoming sale of 49% of Azores Airlines.According to the islands' press, the share sale prospectus was applied for by both companies.
David Neeleman owns Jet Blue and part of TAP, through Atlantic Gateway, with the Azores Airlines sale recently discussed at a meeting between Neelamn and the president of the Azorean regional government.
Neither TAP nor Jet Blue have yet made a move on a deal, or said how they would proceed, although it is unlikely there will be a complicated, joint bid.
Within the airline, the preference is for the 49% block of shares to end up with Jet Blue, as the US company is based at John F. Kennedy airport - offering a potentially valuable link directly to NYC.
The president of the Regional Government of the Azores, Vasco Cordeiro, said that the process of selling off 49% of the capital of Azores Airlines will start later in February and that the objective is to find a "strategic partner" that will strengthen the company.
