Brazilian airline Azul said it signed an agreement with certain stakeholders for a $650 million investment in a future capitalization deal, according to a late Friday securities filing.
The airline’s so-called “backstop commitment agreement” must be approved by the U.S. court overseeing its bankruptcy proceedings, the filing said, reports Reuters.
In May, Azul filed for Chapter 11 bankruptcy protection in the United States after months of trying to restructure mostly pandemic-era debt.
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