Brazilian airline Azul files for Chapter 11 bankruptcy protection

Azul stated in a document that the company has initiated a voluntary restructuring process under Chapter 11 of the U.S. Bankruptcy Code, including obtaining approximately $1.6 billion in financing during this process. Azul plans to eliminate over $2 billion in debt and secure approximately $950 million in new capital injection after the restructuring process is completed. The company has reached a restructuring support agreement with key stakeholders, including corporate bondholders, lessor Aercap, and strategic partners United Airlines and American Airlines. Its goal is to proactively implement the financial restructuring process