Azul S.A. has formally concluded its voluntary financial restructuring process and exited Chapter 11 proceedings before the U.S. Bankruptcy Court for the Southern District of New York, following full repayment of its debtor-in-possession (DIP) financing and the settlement of its previously announced exit offering. All conditions under the company’s reorganisation plan, approved on December 19, 2025, have been satisfied or waived, rendering the plan effective and substantially consummated.
Following the share consolidation approved on February 12, 2026, Azul’s share capital now stands at R$21.76 billion, divided into 54.73 trillion registered common shares with no par value. If all three series of subscription bonuses approved on February 19, 2026 are fully exercised, the total number of shares would increase to 62.18 trillion.
The restructuring significantly strengthened Azul’s capital structure, improved liquidity and materially reduced indebtedness, positioning the airline for greater operational sustainability and long-term growth. The process was implemented through agreements with key creditors, including bondholders, AerCap as its largest aircraft lessor, and strategic investors United Airlines and American Airlines.
