Azul management believes the carrier’s recent balance sheet overhaul should transform the Brazilian airline into one of the most competitive airlines worldwide.
GOL's parent Abra Group has agreed to convert $950 million of its secured debt in the Brazilian carrier to equity as it nears exiting bankruptcy protection.
Brazilian carrier Azul has reached agreement with existing bondholders for $500 million in additional financing, a key step in its latest restructuring.
Azul is pushing back on reports of potential bankruptcy considerations, saying it has sources of liquidity and continues to explore combinations with GOL.
Azul is seeing some relief in Q3 after battling headwinds stemming from the closure of a major airport and a temporary slide in international capacity.
GOL has failed to start the process of considering its Chapter 11 exit financing proposals, after previously stating the evaluations would start in early June.
This week’s Carbon Analysis returns to Latin America and reassesses the emissions of Avianca Group, Azul Brazilian Airlines, GOL Airlines, and LATAM Group.
