Azul Linhas Aéreas Brasileiras (AD, São Paulo Viracopos) has reached commercial agreements with select creditors to strengthen its cash generation means and improve its capital structure.
The carrier said in a statement that lessors and OEMs that hold approximately 92% of the airline’s existing equity issuance obligations, have now agreed to eliminate approximately BRL3 billion Brazilian reais (USD545 million) from its current debt balance and, in exchange, receive up to 100 million new preferred shares in Azul in a one-time issuance….
Source: ch aviation
Read more: Brazil’s Azul reaches agreement with lessors, OEMs