U.S. Court Approves Agreement Between Azul and AerCap as Part of its Restructuring
The Brazilian airline secures judicial backing for a deal that will save it over $1 billion in fleet leasing costs.
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Azul S.A. has announced that the U.S. Bankruptcy Court for the Southern District of New York has approved the agreement reached with AerCap, its largest aircraft lessor, as part of the company's voluntary financial restructuring process under Chapter 11.
The judicial decision, issued on August 13, 2025, represents a fundamental step forward in the Brazilian airline's reorganization plan. According to the company's own estimates, the agreement with AerCap, the world's largest lessor, will provide savings of over USD 1 billion in fleet lease payments. This pact was the result of months of complex negotiations, and the company internally communicated that this achievement "strengthens our path forward, keeps our fleet competitive, and ensures we are building an even more agile and efficient Azul."
Additionally, the court authorized Azul to reject multiple lease contracts for aircraft and engines that were not in use, a move directly aligned with its fleet optimization strategy. This shedding of non-operational assets will allow the airline to focus its resources on its core fleet and reduce unnecessary fixed costs.
In Detail: Keys to Azul's Process
What is Chapter 11? It is a U.S. legal mechanism that allows a company to reorganize its debts and operations under court protection without halting its business. The goal is to emerge as a financially stronger entity.
What does the AerCap deal entail? It involves restructuring the payment terms of lease contracts for a significant portion of Azul's fleet, adapting them to the airline's current economic reality.
Does it affect passengers? No. Azul confirmed that these measures do not impact its route network, its overall operational fleet, or its ability to serve its customers. Flights continue to operate as normal.
The airline, Brazil's largest by number of flights and cities served, emphasized that these actions are part of a comprehensive plan designed to ensure its long-term strengthening and transformation. Restructuring liabilities, especially lease agreements denominated in U.S. dollars, is crucial for an airline operating in a market with a volatile local currency.
In a statement to the markets, Azul reaffirmed its commitment to keeping shareholders, customers, and employees informed about the next steps in its restructuring process, in full compliance with all applicable regulations. The approval of this agreement with its main business partner is seen by analysts as a strong signal of confidence in Azul's viability plan and its ability to emerge from Chapter 11 as a strengthened and competitive company.
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