There are always risks associated with booking flights on small, independent airlines.
This week, Brazil-based Azul formally filed for Chapter 11 bankruptcy protection in the US.
It issued a securities filing, aiming to restructure over $US2 billion of debt, travel news hub Travel Mole reported.
There is a commitment of $1.6 billion in financing as well as up to $950 million in equity financing after exiting Chapter 11.
The airline says it has agreements with existing bondholders, lessor AerCap, and airline partners United Airlines and American Airlines to help support its restructuring.
The airline’s financial issues date back to the Covid-era shutdown.
“We had too much debt on the balance sheet that principally came from Covid, said CEO John Rodgerson.
"We now have an opportunity to clean it all up.”
Azul had been exploring a merger with Gol, and it is unclear how the bankruptcy filing will affect this.
This week, Brazil-based Azul formally filed for Chapter 11 bankruptcy protection in the US.
It issued a securities filing, aiming to restructure over $US2 billion of debt, travel news hub Travel Mole reported.
There is a commitment of $1.6 billion in financing as well as up to $950 million in equity financing after exiting Chapter 11.
The airline says it has agreements with existing bondholders, lessor AerCap, and airline partners United Airlines and American Airlines to help support its restructuring.
The airline’s financial issues date back to the Covid-era shutdown.
“We had too much debt on the balance sheet that principally came from Covid, said CEO John Rodgerson.
"We now have an opportunity to clean it all up.”
Azul had been exploring a merger with Gol, and it is unclear how the bankruptcy filing will affect this.
The airline was founded in 2008 by David Neeleman, who also started the airline JetBlue in the US. The airline offers affordable flights to places in Brazil that other airlines do not service.
Azul has 166 planes and flies to 162 destinations, Wikipedia says.
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