Reported August 28, 2024/ Updated August 29, 2024 "Azul Shares Slump As Airline Looks At Options To Rework Debt; Equity Offering Explored, Chapter 11 A Less Preferred Option; Citi Advising Airline On Potential Follow-on, Gol Merger" - Bloomberg News

https://www.bloomberg.com/news/articles/2024-08-28/azul-brazil-airline-explores-debt-options-gol-deal-still-on-table

Azul SA shares slumped to a record low Thursday as people familiar with that matter said the Brazilian airline is weighing options from an equity offering to a Chapter 11 filing to address approaching debt obligations.

The troubled carrier is also actively working to get a merger with Gol Linhas Aereas Inteligentes SA over the line to convince creditors that a new combined entity would have lower debt levels and better growth prospects, one of the people said, asking not to be named because the information is private. But that approach is seen as less attractive given Azul's imminent cash needs and weak financial results.