TAP SGPS Faces Enforcement Action Over $177M Azul Debt
TAP SGPS, the Portuguese airline group, is facing potential legal enforcement action after failing to repay $177 million owed to Azul Linhas Aéreas Brasileiras (Brazil). The debt relates to bonds issued in 2016 that were subscribed by Azul as part of a strategic investment agreement. TAP’s failure to meet the repayment deadline has now shifted control of the matter to the common representative of…