The Brazilian airline Azul has concluded a reorganization by agreeing to bond holders, lenders, and aircraft manufacturers, and has eliminated 12.3 billion -R ($ 2.1 billion) debt.
“In the face of a challenging scenario, the company has chosen commercial negotiations with his partner, making it possible with a reputation and solid business model,” Azul said on January 29.
AZUL's debt reduction is a device that can be converted to a $ 557 million company equivalent to $ 557 million in AZUL shares in addition to the $ 785 million conversion in 2029 and 2030. This is the result of the exchange.
Last year, Azul, based in Sao Paulo, quoted the Brazilian currency to cut down on US dollars, rose fuel prices, theft in global supply chains, floods in Brazil, and “height of sector litigation”. I became the reorganization process.
“This is another very important moment in Azul's history. We conclude a negotiation process to further strengthen our company,” he said. John Rodgasson says.
“In addition to the extinction of $ 2.1 billion of financial obligations, we have received more than $ 525 billion in injection today.
AZUL also states that it has strengthened more than $ 300 million in the next three years through the “strategic commercial agreement” with aircraft lenders and aircraft manufacturers.
Looking ahead, AZUL plans to add 15 new EMBRAER 195-E2 jet to the fleet in 2025. “It's very valuable to solidify our plans and expand access to empty journey nationwide,” Rodgerson says.
Aviation Analytics Company Cirium's fret data indicates that Azul uses about 25 E195-E2 and holds this type of 49 unpleasant orders.
Earlier this month, the ABRA Group, which owns Brazil's GOL and Colombian birds, has entered a memorandum (MOU) with AZUL to explore the combination of Brazil's largest airline.
ABRA notified shareholders on January 15 about the intention of exploring the combination of business in Brazil with AZUL. According to GOL, MOU represents the “initial stage of negotiations between ABRA and AZUL to explore potential transactions.”
