Azul Linhas Aéreas Brasileiras (AD, São Paulo Viracopos) has filed for Chapter 11 bankruptcy in the United States, looking to eliminate over USD2 billion in funded debt and secure approximately USD1.6 billion in debtor-in-possession financing from partners.

The carrier opted to initiate this “proactive process under Chapter 11” despite undertaking a private, out-of-court financial restructuring over the last few months, which was set for the company to avoid bankruptcy protection in the first place, as John…

Source: ch aviation
Read more: Brazil’s Azul files for Chapter 11