Azul (OTC: AZULQ) files Chapter 11 reorganization plan in US court
Rhea-AI Filing Summary
Azul S.A. has filed a formal plan of reorganization and a related disclosure statement with the U.S. Bankruptcy Court for the Southern District of New York as part of its ongoing Chapter 11 proceedings. These filings are aligned with previously announced Restructuring Support Agreements dated May 28, 2025 with financial creditors holding Azul debt securities, its largest lessor AerCap, and strategic partners United Airlines and American Airlines. The company describes this step as a significant milestone in advancing its financial and operational restructuring and is directing stakeholders to dedicated websites and hotlines for case information and claims. Azul also highlights its position as Brazil’s largest airline by domestic departures and cities served, operating around 1,000 daily flights to over 150 destinations with a fleet of more than 180 aircraft.
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Insights
Azul formalizes its Chapter 11 roadmap with a court-filed reorganization plan.
Azul S.A. has moved from preliminary restructuring talks to a concrete Chapter 11 plan by filing a plan of reorganization and disclosure statement with the U.S. Bankruptcy Court for the Southern District of New York. This follows Restructuring Support Agreements announced on May 28, 2025 with financial creditors, AerCap as its largest lessor, and partners United Airlines and American Airlines.
The disclosure statement is intended to summarize how different creditor classes would be treated under the plan and to provide additional information about Azul and the restructuring terms. The filing characterizes this stage as a significant milestone in both financial and operational restructuring, suggesting that negotiations with key stakeholders have advanced to a detailed proposal consistent with the earlier RSAs.
Future developments will depend on Court review and stakeholder responses to the proposed plan, as well as subsequent milestones in the Chapter 11 process. Stakeholders are directed to the Stretto case website and the Azul-specific site azulmaisforte.com.br for ongoing information and claim submissions.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of September, 2025
Commission File Number: 001-38049
Azul S.A.
(Name of Registrant)
Edifício Jatobá, 8th floor, Castelo Branco Office Park
Avenida Marcos Penteado de Ulhôa Rodrigues, 939
Tamboré, Barueri, São Paulo, SP 06460-040, Brazil.
+55 (11) 4831 2880
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes ¨ No x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes ¨ No x
 |
Notice to the Market September | 2025 |
Azul Updates the Market on the Progress of its Chapter 11 Proceedings
São Paulo, September 17th, 2025 – Azul S.A. ("Azul” or “Company”) (B3: AZUL4; OTC: AZULQ), announces that it has filed with the United States Bankruptcy Court for the Southern District of New York (“Court”) a plan of reorganization (“Plan”) in the Chapter 11 proceedings. This step is aligned with the Restructuring Support Agreements (“RSAs”) entered into and announced to the market on May 28, 2025, with financial creditors holding debt securities issued by the Company, AerCap (the Company’s largest lessor) and key strategic partners, United Airlines and American Airlines.
The Company has also filed with the Court a disclosure statement (“Disclosure Statement”) summarizing the Plan, including information regarding the treatment of the various classes of the Company’s under the Plan, as well as other information related to Azul and the Plan.
The filing of the Plan and Disclosure Statement represents a significant milestone toward the completion of Azul’s financial and operational restructuring. All documents related to these filings are available on the website managed by the Company’s claims administration agent, Stretto, Inc., at https://cases.stretto.com/Azul.
Communication and Transparency with the Market
Azul will keep its shareholders, customers, crew members, and the market informed of all material developments in the restructuring process, in full compliance with applicable laws and regulations. Stakeholders seeking specific information regarding the Company’s Chapter 11 proceedings may access the dedicated website www.azulmaisforte.com.br. For information about the case and for the submission of claims, please visit https://cases.stretto.com/Azul or call (833) 888-8055 (toll-free in the U.S.) or +1 (949) 556-3896 (international).
About Azul
Azul S.A. (B3: AZUL4, OTC:AZULQ), the largest airline in Brazil by number of domestic flight departures and cities served, offers 1,000 daily flights to over 150 destinations. With an operating fleet of over 180 aircraft and more than 15,000 Crewmembers, the Company has a network of 400 non-stop routes. Azul was named by Cirium (leading aviation data analysis company) as the most on-time airline in the world in 2022, being the first Brazilian airline to obtain this honor. In 2020 Azul was awarded best airline in the world by TripAdvisor, the first time a Brazilian flag carrier earned the number one ranking in the Traveler’s Choice Awards. For more information visit ri.voeazul.com.br/en/.
Contato
Investor Relations Tel: +55 11 4831 2880 invest@voeazul.com.br |
Media Relations Tel: +55 11 98196-1035 imprensa@voeazul.com.br |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: September 17, 2025
Azul S.A.
By: /s/ Alexandre Wagner Malfitani
Name: Alexandre Wagner Malfitani
Title: Chief Financial Officer
FAQ
What did Azul S.A. (AZULQ) announce in this 6-K?
Azul S.A. announced that it has filed a plan of reorganization and a related disclosure statement with the U.S. Bankruptcy Court for the Southern District of New York in connection with its ongoing Chapter 11 proceedings.
How is Azul’s Chapter 11 plan linked to prior restructuring agreements?
The plan of reorganization is aligned with Restructuring Support Agreements entered into and announced on May 28, 2025 with financial creditors holding Azul debt securities, AerCap as its largest lessor, and strategic partners United Airlines and American Airlines.
What is the purpose of Azul’s disclosure statement in the Chapter 11 process?
The disclosure statement summarizes the plan of reorganization, including information on how various classes of Azul’s claims and interests would be treated, and provides additional information about the company and the plan.
Where can Azul S.A. stakeholders find information on the Chapter 11 case?
Stakeholders can access case documents and submit claims via https://cases.stretto.com/Azul and find additional restructuring information at www.azulmaisforte.com.br.
How does Azul describe the significance of filing its Chapter 11 plan?
Azul states that filing the plan of reorganization and disclosure statement is a significant milestone toward completing its financial and operational restructuring.
What operational scale does Azul highlight about its airline business?
Azul notes that it is Brazil’s largest airline by domestic departures and cities served, with about 1,000 daily flights to over 150 destinations, an operating fleet of more than 180 aircraft, and over 15,000 crewmembers on a network of 400 non-stop routes.