SÃO PAULO, June 28,
2023 /PRNewswire/ -- Azul, the largest airline in
Brazil in terms of departures and
destinations served, announces today an aggregate acceptance rate
of 86% in its previously announced offers to exchange its 2024 and
2026 Senior Notes. An amount of US$291,170,000 in principal of the 5.875% Senior
Notes due 2024 representing 72.8% of the outstanding principal, and
US$567,602,000 in principal of the
7.250% Senior Notes due 2026 representing 94.6% of the outstanding
principal, will be exchanged.
"This is another key milestone in our comprehensive permanent
plan which started with the successful negotiation with our lessors
and OEMs and now continues with the overwhelming acceptance of our
exchange offers with more than 85% participation. This
comprehensive plan will significantly strengthen Azul's capital
structure and improve our cash generation. We have reached all of
these agreements amicably, demonstrating the strength of our
long-lasting, mutually beneficial relationships," said Alex Malfitani, Azul's CFO. "With each step the
company takes, our partners have responded very positively,
signaling strong confidence in the long-term growth and competitive
advantages of our business," says Malfitani.
Azul will keep investors and the general market updated on the
progress of the exchange offers.
About Azul
Azul S.A. (B3: AZUL4, NYSE: AZUL) is
Brazil's largest airline in number
of flights and destinations served, with more than 900 flights per
day to more than 150 cities. With an operational fleet of more than
160 aircraft and more than 14,000 crew members, Azul flies more
than 300 direct regional, domestic and international routes. In
2022, Azul was named the most on-time airline in the world,
according to the OnTime Performance-OTP Review report by Cirium -
the world's leading reference for operational data in the aviation
industry. In addition, in 2020, Azul was elected the best airline
in the world by TripAdvisor Travelers' Choice, being the only
Brazilian carrier to be awarded with both prestigious industry
recognitions. For more information,
visit www.voeazul.com.br/ri.
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SOURCE Azul