Azul launches primary public share offering under restructuring plan
Azul launched (22-Dec-2025) a primary public offering of common shares and preferred shares, which will consist exclusively of newly issued shares. The offering is intended to implement the mandatory capitalisation of certain indebtedness through the issuance of equity, and is an integral part of the company's Chapter 11 restructuring plan. [more - original PR]
Background ✨
Azul's Chapter 11 restructuring process included entering into restructuring support agreements with key financial stakeholders and securing approximately USD1.6 billion in debtor-in-possession financing, with a plan to eliminate over USD2 billion in debt. The US Bankruptcy Court approved Azul's disclosure statement and a Backstop Commitment Agreement for USD650 million to support its planned capitalisation and equity raise as part of the reorganisation plan1 2 3 4 5.