Brazil's airline Azul exits Chapter 11 bankruptcy proceedings
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FILE PHOTO: A view of an Airplane of Brazilian airline Azul, at the Brasilia Air Force Base, in Brasilia, Brazil October 8, 2024. REUTERS/Adriano Machado/File Photo
SAO PAULO, Feb 20 (Reuters) - Brazilian airline Azul formally exited its bankruptcy proceedings in the United States on Friday, it said in a securities filing.
The company said it has reached its main targets with the restructuring process, including strengthening its capital structure, increasing liquidity, and reducing indebtedness.
The carrier said it has cut debt and lease obligations by approximately $2.5 billion during the restructuring process, which also included raising nearly $1.4 billion through debt and $950 million in equity investments.
Azul filed for Chapter 11 in the United States in May 2025 aiming to restructure its debt. It was part of a wave of Latin American airlines seeking bankruptcy protection following the impact of COVID-19 in the sector.
Aeromexico, Colombia-based Avianca and Azul's two largest rivals, Gol and LATAM Airlines, have all also filed for bankruptcy since the beginning of 2020.
(Reporting by Andre Romani, Editing by Natalia Siniawski)
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