Brazilian airline Azul stated it signed an settlement with sure stakeholders for a $650 million funding in a future capitalization deal, in response to a late Friday securities submitting, News.az reviews citing Xinhua.
The airline’s so-called “backstop commitment agreement” have to be accredited by the U.S. courtroom overseeing its chapter proceedings, the submitting stated.
In May, Azul filed for Chapter 11 chapter safety within the United States after months of attempting to restructure largely pandemic-era debt.
