Brazilian operator Azul has reached a non-binding MoU with GOL’s parent Abra Group to combine their businesses in Brazil’s aviation market.

GOL plans to exit Chapter 11 bankruptcy in May and pledges an improving financial performance as more aircraft return to service after engine maintenance.

Porter Aircraft Leasing and Avolon have entered into a sale and leaseback agreement covering four Pratt & Whitney engines powering Embraer E195-E2 aircraft.