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Azul (B3: AZUL53; OTC: AZULQ) announced it has emerged from Chapter 11 effective Feb 25, 2026, after a court-confirmed Plan of Reorganization.
The company secured US$850 million of new equity, raised US$1.375 billion in exit notes, and reduced debt and lease obligations by about US$2.5 billion, achieving pro-forma net leverage under 2.5x.