Establishment

Founded by businessman José Luiz Felício, owner of the bus company Viação Passaredo and father of the airline's current president, José Luiz Felício Filho, Passaredo Transportes Aéreos began operations on July 3, 1995 with two Embraer EMB-120 Brasília, connecting cities such as Ribeirão Preto, Teresina, Goiânia, Brasília, São Paulo, Curitiba, São José dos Campos, Belo Horizonte and Vitória da Conquista. With the success of the flights, the company leased a third plane of the same model to reinforce its operations.^[6]

In 1997, Passaredo introduced into service a twin-aisle Airbus A310-300 with capacity for 244 passengers, becoming the first Brazilian airline to operate it,^[7] followed by a second aircraft to operate on domestic tourist charter flights to destinations in the Northeast and international in the Caribbean.

In the same period it also incorporated two ATR-42-300 turboprops, with the intention of incorporating three more aircraft to modernize and expand its fleet, replacing its three Embraer aircraft. However, they were all returned to leasing companies less than two years after being put into operation, due to the "Samba Effect", a financial crisis that affected Brazil in 1999 and resulted in a strong devaluation of the real, the national currency.^[8]

2000s

On April 4, 2002, due to financial difficulties, Passaredo announced the suspension of all its flights with immediate effect for an indefinite period, grounding its fleet made up solely of the two Embraer aircraft acquired in 1997.^[9]

2010s

In 2010, the airline received an ERJ-135 to accelerate fleet renewal, thus continuing to expand its network. On April 29, 2011, it retired the last three EMB-120 turboprops,^[15] but stopped flying to Marília, Bauru and Presidente Prudente, claiming that the ERJ-145s were too large for the demand on these routes.^[16]

From 2010 until 2014, Passaredo had an operational partnership with GOL Linhas Aéreas, replacing an earlier similar agreement with TAM Airlines (now LATAM Airlines). However, in 2014, re-established an operational partnership with TAM (now LATAM).^[17]

On May 23, 2012, Passaredo announced the acquisition of 10 ATR 72-600 aircraft, with the option to purchase ten more. And also, the start of operations of the first of six ATR 72-500 that were leased to expand its fleet.^[18]

Passaredo applied to the Commercial Bankruptcy and Reorganization Court in Ribeirão Preto on October 19, 2012,^[19] for the commencement of "judicial reorganization" proceedings pursuant to the New Bankruptcy and Restructuring Law of Brazil (Law 11.101).^[20] Operations continue as normal.

After filed for bankruptcy protection, the airline decided to begin the retirement of its fleet of Embraer regional jets due to the high cost of operation and maintenance, standardizing its fleet with ATR 72 turboprops, which in addition to being more economical, have a greater seating capacity and are suitable for operations at airports with limited infrastructure.^[21]

In the year 2014, along with Avianca Brasil, Passaredo was considered the safest of Brazil in a ranking of AirlineRatings.com, receiving seven star rating. The staff evaluated 449 airlines to security criteria. A total of 149 evaluated airlines got seven stars, the highest score.^[22][23]

Partnership with GOL Linhas Aéreas

In January 2017, Passaredo re-established operational partnership with GOL Linhas Aéreas on selected flights,^[24] while maintaining partnership with LATAM.

On July 3, 2017, company was sold to Viação Itapemirim^[25] and on August 24 emerges from bankruptcy,^[26] but on September 11, 2017, resigned the sale to Itapemirim for breach of contract.^[27]

Acquisition of MAP Linhas Aéreas

On August 21, 2019, Passaredo announced the purchase of MAP Linhas Aéreas, including the 12 slots at São Paulo Congonhas Airport granted to MAP on August 14. Passaredo was granted 14 slots.^[29] Together these slots will help Passaredo to build its own network from Congonhas Airport, focusing on markets underserved or not served. Initially both companies will operate independently but there are plans for a future merger.^[30] On the same day Passaredo also announced the change of its name to VOEPASS Linhas Aéreas.

2020s

On June 8, 2021 GOL Linhas Aéreas announced the purchase of MAP Linhas Aéreas from VOEPASS for R$120 million (US$25.4 million). The transaction included 26 slots at São Paulo Congonhas Airport belonging to MAP and VOEPASS.^[31]

On November 3, 2022, the airline became a member of the International Air Transport Association.^[32][33] And two days later, on November 5, 2022, joined the Latin American & Caribbean Air Transport Association (ALTA).^[34]

In April 2023, after ANAC released a new regulatory model the previous year that allowed airlines to sell slots without the need for an M&A agreement, GOL reversed its agreement to acquire MAP Linhas Aéreas, acquiring only the slots at São Paulo Congonhas Airport.^[35] Thus, VOEPASS continued to hold all MAP operations, including its air operator certificate, fleet and routes in Manaus.^[36]

In April 2023, GOL Linhas Aéreas and VOEPASS announced the finalization of their commercial capacity purchase agreements (CPA) effective May 9, 2023, resulting in the suspension of numerous destinations operated by VOEPASS. Between June 2019 and April 2023, the regional airline served up to 14 destinations on behalf of GOL in all regions of Brazil. On the same day, the company announced the expansion of a codeshare agreement with LATAM Airlines.^[37][38]

Partnership with LATAM Airlines

On April 11, 2023, LATAM Airlines announced the start of ticket sales to 13 regional destinations operated by VOEPASS, namely Ipatinga, Barreiras, Feira de Santana, Valença, Paulo Afonso, Teixeira de Freitas, Lençóis, Fernando de Noronha, Uruguaiana, Santa Maria, Pelotas, Santo Ângelo and Aracati, in addition to Coari, Carauari, Parintins, Itaituba and Parnaíba, operated by MAP Linhas Aéreas on behalf of VOEPASS.^[39]

On September 20, 2023, tour operator CVC announced an exclusive partnership with VOEPASS Linhas Aéreas to launch exclusive flights from Belo Horizonte/Confins, Uberlândia, Rio de Janeiro/Santos Domunt, São José do Rio Preto, Bauru, Vitória and Brasília, mainly heading to destinations in the Northeast region, such as Porto Seguro, Ilhéus and Ilha de Comandatuba, in addition to Caldas Novas, the largest hydro-thermal resort in the world. VOEPASS Linhas Aéreas forecasts the availability of 70 thousand seats between December 2023 and February 2024; the operation will also continue for the following 12 months, with availability until March 2025, the airline said.^[40]

On February 21, 2024, it announced the launch of six new destinations from March 31, namely Cascavel, Caxias do Sul, Florianópolis, Maringá, Presidente Prudente and Rio Verde. The flights are sold by the airline itself and also through LATAM Airlines sales channels, as they will be operated through code-share between the two companies.^[41]

Possible acquisition by LATAM Airlines

On March 14, 2024, the Fortaleza-based newspaper Diário do Nordeste announced, citing airline industry sources, that LATAM Airlines had acquired VOEPASS Linhas Aéreas with the aim of expanding its operations in secondary and regional markets. The acquisition announcement, according to the newspaper, would be made by the two airlines during a Brazilian government event to launch a regional aviation incentive program.^[42] Rumors increased with the publication of a Concentration Act in the Official Diary of the Union (DOU), the official journal of the federal government of Brazil, requested by the airlines, of an operation such as "acquisition of shares without acquisition of control".^[43]

However, later, LATAM Airlines went public to clarify the information, signaling that it had not acquired the regional airline, but that it submitted to the Administrative Council for Economic Defense (CADE), a Brazilian antitrust body, the request to carry out a support operation financial support to VOEPASS Linhas Aéreas with the aim of optimizing its slots to expand flight and destination options in the Brazilian airline market, with a possible future minority stake in VOEPASS just as one of the guarantee options for this operation. The giant Latin American airline, however, did not provide details on how this support will be provided and how slots will be optimized.^[44][45]

Details about the operation later emerged; according to the documents sent to CADE, VOEPASS Linhas Aéreas will exchange ten pairs of airport slot (landing and takeoff times) at Congonhas Airport, in São Paulo, during peak hours, for ten pairs of LATAM Airlines slots at the same terminal, however, at less busy times. In return, VOEPASS will issue convertible debentures (debt securities), which, together with purchase options, will provide LATAM with the right to, in the future, convert its investment into up to 30% of the shares of VOEPASS and its subsidiary MAP Linhas Aéreas.^[46]