Azul Linhas Aéreas Brasileiras (AD, São Paulo Viracopos) has completed its financial restructuring after securing agreements with bondholders, lessors, and OEMs, it announced in regulatory filings. This eliminates nearly USD1.6 billion in debt from its balance sheet and raises an additional USD525 million.

The negotiations with lessors and OEMs resulted in the elimination of USD557 million in equity issuance obligations in exchange for 94 million new AZUL4 preferred shares.

Additionally, the…

Source: ch aviation
Read more: Brazil’s Azul restructures finances, cuts .6bn debt