Azul SA (AZUL) has released an update.

Azul S.A., Brazil’s largest airline, has announced the successful negotiation of commercial agreements with lessors and OEMs to eliminate about R$3 billion in equity issuance obligations, in return for issuing up to 100 million new preferred shares. This move is expected to enhance the company’s cash generation and improve its capital structure. The agreements are pending certain conditions and the finalization of definitive binding documentation.

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