Azul Linhas Aéreas Brasileiras has announced a primary share offering aimed at raising up to BRL7.4 billion (USD1.3 billion). The funds are designated to settle existing financial debts as part of the ongoing Chapter 11 bankruptcy restructuring process. The carrier plans to issue approximately 724 billion preferential shares and an equal number of ordinary shares. Existing shareholders will have priority rights to subscribe to the new shares, with preferential shares priced at BRL101.45 and ordinary shares at BRL135.27.
The US bankruptcy court recently approved Azul’s debt restructuring plan, permitting the airline to slash over USD2 billion in debt and attract new investments from American Airlines and United Airlines. The airline operates from São Paulo Viracopos, serving 137 destinations with a fleet comprising 199 aircraft and over 800 daily flights.
This financial maneuver aims to stabilize the airline's operations amid its bankruptcy proceedings, with support from U.S. courts and key industry investors. The planned capital increase represents a significant step toward restoring Azul's financial health and operational capacity in the competitive Latin American aviation market.
