Azul has been awarded with the Global
Restructuring Deal of The Year by the Aviation 100 Awards in
Dublin
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PAULO, Feb. 1, 2024 /PRNewswire/ -- Azul, the
largest airline in terms of flights and destinations served in
Brazil, received the
'Restructuring Deal of the Year' award last Monday (29). The
ceremony took place in Dublin
during the 13th gathering of industry leaders organized by Airline
Economics.
The Aviation 100 Awards event is renowned for
celebrating excellence in aviation, acknowledging outstanding
companies, financial transactions, and industry leaders. The
winners are determined through a voting process that involves
various industry stakeholders, including leasing companies, engine
manufacturers, and airlines.
"We are very happy and proud to receive this
recognition directly from the global aviation community. We
conducted an open and friendly restructuring, avoiding bankruptcy
process. This reflects the relationship and trust that our partners
have on us, demonstrating belief in the strength of our business
model and our ability to generate cash. This agreement was crucial
for establishing bilateral agreements, maintaining our expansion
pace, and hiring more people. With the business's
sustainability ensured, we will grow our capacity by 11% and will
receive newer next-generation aircraft in 2024," said Alex Malfitani, Azul's CFO.
Raphael Linares,
Director of Fleet and Aircraft Program, represented the company at
the awards ceremony.
One of Azul's key strategies is to maintain a
diversified fleet operating in different regions and enhancing
connectivity in Brazil. Among
the aircraft arriving later this year are ATRs, Airbus 320 models,
and Embraer, with the latter being the majority. Starting in 2026,
the company will receive seven new Airbus A330neo aircraft, capable
of conducting long-distance flights with reduced fuel consumption
and lower operational costs.
Azul's restructuring was also recognized with the
Liability Management Deal of The Year award at the Bonds &
Loans Latin America & Caribbean Awards last year. In addition,
Alex Malfitani was named 'CFO of the
Year' at the 2023 Equilibrist Award, granted by the Brazilian
Institute of Finance Executives (IBEF-SP), one of the industry's
top honors.
About Azul
Azul S.A. (B3: AZUL4, NYSE: AZUL) is Brazil's largest airline in number of flights
and destinations served, with over 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