As Mr. Alaor explains his interest in investing in the newly privatized airline, he outlines how the deal came out of a partnership between David Neeleman and Humberto Pedrosa, a prominent Portuguese businessman who owns the Barraqueiro Group. The two formed Atlantic Gateway, the consortium that dealt with the Portuguese government. David Neeleman is also the owner of WestJet in Canada and both JetBlue and Morris Air in the United States.
Born in Sao Paulo, Brazil in 1959, David Neeleman is of American and Dutch descent. His family moved to the United States in 1964. Marcio Alaor finds the man quite a curious genius in aviation. This is because the man has always battled with problems caused by his ADD. Mr. Neeleman has always had problems studying books and learning in the traditional, linear manner. His grades in school were at best middling. He dropped out of the University of Utah after struggling there for 3 years, according to Mr. Alaor. Mr. Neeleman refuses to take ADD medication because of the negative side effects. Nevertheless, David Neeleman has steadily worked to overcome the debilitating effects of ADD to become a major player in the world airline industry.
Mr. Neeleman started his high flying airline experience with the founding of Morris Air in 1984 on a “no frills” low-cost model. The first flights were only made to Hawaii, followed by new routes to Los Cabos, Cancun, and Orlando, Florida. He sold the airline in 1993 for $130 million dollars to Southwest Airlines, which also practiced “no frills” to keep passenger ticket prices low.
Marcio Alaor has applied his own innovations to BMG that have grown the bank to become a prime institution in Brazil and throughout South America. Part of this success came from his understanding of new banking technologies that he has leveraged to lead BMG into the market areas of the 21st century. He has done this while also keeping to the traditions that have made BMG a great bank in the past.