Azul (AZUL) said Tuesday it concluded a financial restructuring process, resulting in the elimination of $2.1 billion in debt and financial obligations and receiving $525 million in new capital through negotiations with its bondholders, lessors and aircraft manufacturers.
The company said this is the result of the exchange of instruments convertible into company stock worth $557 million, as well as converting more than $785 million of financial debt maturing in 2029 and 2030, along with other improvements to the company's cash generation.
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