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Report: Brazilian airline Azul hires debt restructuring consultants | Instant news

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FILE PHOTOS: Brazilian airline Azul was spotted at Pampulha Airport after the company stopped several flights, amid the outbreak of the Corona Virus (COVID-19), in Belo Horizonte, Brazil, April 2, 2020. Reuters / Washington Alves

SAO PAULO (Reuters) – Brazilian airline Azul SA (AZUL.N) has hired restructuring company Galeazzi & Associados to renegotiate financial debt and its suppliers, the Brazilian newspaper Est Est de de Paulo reported on Wednesday.

The newspaper stated that Azul hopes to renegotiate about 15 billion riyals ($ 2.9 billion), but not the reorganization in court. Azul and Galizi did not immediately respond to Reuters’ request for comment.

On Tuesday, Azul, controlling shareholder David Nellman, founder of JetBlue, sold most of his preferred shares in the company to pay margin requests for private loans, which have Azul shares as collateral.

Edited by Alexander Smith

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