Overview
- Azul said it completed its U.S. Chapter 11 process after nine months, confirming court approval of its reorganization and a formal exit dated February 20.
- It repaid debtor-in-possession financing at emergence and finalized a public share offering as part of the restructuring steps.
- The airline raised about USD 1.375 billion in new senior notes and secured USD 950 million in equity commitments, with participants including American Airlines, United Airlines and AerCap.
- American Airlines contributed roughly USD 100 million, bolstering the financing package that underpins Azul’s post-restructuring plan.
- Azul reduced loans by about USD 1.1 billion and cut aircraft lease liabilities by nearly 40%, and it reported new share capital of BRL 21.7 billion divided into approximately 54 trillion common shares.