Blue Airlines asks for judicial recovery in United States | The economy
Blue Wednesday, 28, Wednesday, filed Chapter Order 11Equals justice restoration in the United States. The news has already been expected by the market in the wake of the company’s recent difficulties in negotiating capital and re -negotiations.
In this recovery, the process includes approximately US $ 1.6 billion financing, which eliminates debt of more than more than US $ 2.0 billion and estimates up to $ 950 million in new capital works during the exit, the second relevant fact.
The airline highlights that the DIP guarantees about 6.6 billion financial partners after its main shareholders celebrate “reconstruction support agreements”. This includes the company’s headings, its largest tenant Aercap – leasing – and the United Airlines and American Airlines represent the most responsibilities of the company with strategic partners.
“These agreements represent an important step in the transformation of our business, as it allows industry leaders in the main aspects of our activities,” said Blue CEO John Rodgerson.
At the end of this process, DIP loan redemption is expected to fund the subscription offer of up to $ 650 million, which is expected to fund the investor’s vision, as well as an additional investment of up to $ 300 million from the United Airline and American Airlines.
Azul has stated that all the guidelines (estimates) are stopped until 2025 against the start of chapter 11.
Historical
Of the three major organizations working in Brazil, he has not yet appealed to Chapter 11. During the Latam epidemic, the process entered the process and concluded the judicial recovery in 2022. The Goal filed this request in the early 2024 and is expected to leave the case in June.
As shown BroadcastingAzul is likely to once again chapter the 11th after the company’s worsening economic situation. In the first quarterly balance, the company’s leverage index increased 5.2 times, 4.9 times in late 2024 and 3.7 times a year ago. The airline’s gross loan ended March 34.6 billion, 42% in 12 months.
To prevent this measurement, Azul has sought many forms in recent months and hopes to submit a new submission. But the estimate is that it can only be done when the company’s operational improvement. In the follow-on April for dollar debt’s mandatory exchange for the company’s shares, the additional reserved reserved $ 1.6 billion and $ 48 million.
Meanwhile, this scene keeps a potential combination between blue and target. The suggestion that negotiations have been in progress since January this year are after the end of the GOL chapter. However, Azul’s efforts are now expected to focus on the economic renewal process.
