Azul is once again recognized by its Successful Capital Optimization Plan concluded in 2023
Azul has been awarded with the Global Restructuring Deal of The Year by the Aviation 100 Awards in Dublin
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SÃO PAULO, Feb. 1, 2024 /PRNewswire/ -- Azul, the largest airline in terms of flights and destinations served in Brazil, received the 'Restructuring Deal of the Year' award last Monday (29). The ceremony took place in Dublin during the 13th gathering of industry leaders organized by Airline Economics.
The Aviation 100 Awards event is renowned for celebrating excellence in aviation, acknowledging outstanding companies, financial transactions, and industry leaders. The winners are determined through a voting process that involves various industry stakeholders, including leasing companies, engine manufacturers, and airlines.
"We are very happy and proud to receive this recognition directly from the global aviation community. We conducted an open and friendly restructuring, avoiding bankruptcy process. This reflects the relationship and trust that our partners have on us, demonstrating belief in the strength of our business model and our ability to generate cash. This agreement was crucial for establishing bilateral agreements, maintaining our expansion pace, and hiring more people. With the business's sustainability ensured, we will grow our capacity by 11% and will receive newer next-generation aircraft in 2024," said Alex Malfitani, Azul's CFO.
Raphael Linares, Director of Fleet and Aircraft Program, represented the company at the awards ceremony.
One of Azul's key strategies is to maintain a diversified fleet operating in different regions and enhancing connectivity in Brazil. Among the aircraft arriving later this year are ATRs, Airbus 320 models, and Embraer, with the latter being the majority. Starting in 2026, the company will receive seven new Airbus A330neo aircraft, capable of conducting long-distance flights with reduced fuel consumption and lower operational costs.
Azul's restructuring was also recognized with the Liability Management Deal of The Year award at the Bonds & Loans Latin America & Caribbean Awards last year. In addition, Alex Malfitani was named 'CFO of the Year' at the 2023 Equilibrist Award, granted by the Brazilian Institute of Finance Executives (IBEF-SP), one of the industry's top honors.
About Azul
Azul S.A. ((B3: AZUL4, NYSE:AZUL) is Brazil's largest airline in number of flights and destinations served, with over 900 flights per day to more than 150 cities. With an operational fleet of more than 160 aircraft and more than 14,000 crew members, Azul flies more than 300 direct regional, domestic and international routes. In 2022, Azul was named the most on-time airline in the world, according to the OnTime Performance-OTP Review report by Cirium - the world's leading reference for operational data in the aviation industry. In addition, in 2020, Azul was elected the best airline in the world by TripAdvisor Travelers' Choice, being the only Brazilian carrier to be awarded with both prestigious industry recognitions. For more information, visit www.voeazul.com.br/ri.
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SOURCE Azul