US EditionUS Court Approves Chapter 11 Plan of Brazil’s Azul
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The Brazilian airline announced that a U.S. court approved its reorganization plan under Chapter 11, a key step in its financial restructuring process. The judicial decision was taken after a hearing this week and had a majority support, qualified by the company as “abrumador”, on the part of [...]
US court approves Chapter 11 plan of Brazil’s Azul
The United States Bankruptcy Court of the Southern District of New York has approved Azul Linhas Aéreas Brasileiras’ Chapter 11 reorganisation plan after receiving “overwhelming support from all voting creditors,” said the company in a notice to the market on Friday, December 12. The carrier filed its plan in September. It involved eliminating over USD2 billion in debt and offering up to USD950 million in new equity, with USD650 million underwri…
Azul Airlines receives approval of the plan in Chapter 11 of bankruptcies in the United States. Image: Azul. The Brazilian airline Azul reported that a U.S. court approved the reorganization plan presented under Chapter 11 (the bankruptcy law) in the United States, marking the completion of a procedural milestone within the process. This decision allows the company to move towards the following phases of implementation, in accordance with the pr…
A U.S. Insolvency Court has approved the restructuring of the Brazilian airline Azul, which allows the airline to reduce debt of over two billion dollars.
Azul secures court approval for US restructuring plan
Brazilian airline Azul has secured approval from a US court for its financial restructuring plan, marking a major step forward in its efforts to stabilise the business. The company said a judge at the United States Bankruptcy Court in New York approved the plan on Monday after it received strong backing from creditors. The decision clears the way for Azul to move into the next phase of its voluntary restructuring under Chapter 11 of the US Bankr…
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