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Azul Posts $62.4M Net Income for Q3 2024 with Revenue Growth of 4.3%

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Azul, a prominent Brazilian airline, has reported a net income of $62.4 million for the third quarter of 2024, reflecting a strong performance amidst challenging market conditions. The airline’s operating revenue saw a 4.3% increase, reaching $884 million. Azul’s financial position remains solid, with immediate liquidity reported at $416 million, ensuring operational stability and flexibility for future growth opportunities. The Q3 results underscore Azul’s ability…

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Azul Projects 6% Capacity Growth and $1B+ EBITDA for 2024

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Azul, Brazil’s leading airline, has announced expectations for a 6% increase in capacity in 2024 compared to the previous year, reflecting its strategic efforts to expand operations and meet demand in key domestic and international markets. Azul also projects EBITDA to exceed $1 billion for 2024, with anticipated growth to reach $1.2 billion in 2025. This financial outlook highlights Azul’s strong performance trajectory, underscoring its…

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Azul Rejoins ABEAR After Five-Year Absence

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Azul, one of Brazil’s leading airlines, has rejoined the Brazilian Airline Association (ABEAR) after a five-year hiatus. Azul initially left the association amid disagreements with rival airlines, but this decision to return marks a renewed commitment to collaboration within Brazil’s aviation industry. By rejoining ABEAR, Azul signals a positive shift toward unified efforts in addressing…

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S&P Downgrades Azul’s Credit Rating to CC Amid Debt Restructuring

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S&P Global has downgraded the credit rating of Brazilian airline Azul from CCC+ to CC, with a negative outlook, following the airline’s recent financing agreement with bondholders. This move reflects S&P’s view that the restructuring deal, aimed at providing Azul with additional liquidity, qualifies as a “distressed” transaction. The downgrade signals ongoing financial strain for…

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Roberto Alvo of LATAM Airlines Appointed as ALTA Executive Chair

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The Latin American and Caribbean Air Transport Association (ALTA) has named Roberto Alvo, CEO of LATAM Airlines, as the new chair of its Executive Committee for the 2024-2025 period. Alvo, a seasoned leader in the aviation industry, is expected to bring a strategic vision to ALTA’s initiatives focused on sustainable and efficient growth within Latin…

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Brazilian Government Open to Facilitate TAP-Azul Debt Agreement Without Direct Intervention

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Brazil’s government has indicated willingness to facilitate an agreement between TAP Air Portugal and Brazil’s Azul regarding a €200 million debt but emphasized no governmental interference. Silvio Costa Filho, Brazil’s Minister of Ports and Airports, reiterated this stance following discussions in Lisbon with Portuguese officials, including Miguel Pinto Luz, Portugal’s Minister of Infrastructure. Both governments…