The last week of August was marked by news reports speculating about the possibility of Azul filing for bankruptcy protection after its shares fell significantly by more than 20%.
Given the scenario, Azul's CEO, John Rodgerson, told Reuters that the company is financially healthy and that the possibility of filing an RJ (Chapter 11) request is outside the company's plans.
"It's not our plan. It's not my plan, it's not the partners' plan… We are working on a friendly discussion with everyone as we always have.,” Rodgerson explained to Reuters.
In addition to addressing the company's financial issue, John Rodgerson also explained that Leasing companies are aware of the challenging scenario in Brazil, mainly due to the exchange rate devaluation and the high interest rates practiced in the country, making the aviation scenario more challenging, especially in of cash flow.
This week alone, Azul shares have fallen by more than 24%, and are currently trading at around R$5,40.
On the other hand, Azul will benefit from resources from the recently approved National Civil Aviation Fund, which provides annual credit of 5 billion exclusively for the sector.
Finally, Azul did not comment publicly on the fall in shares, but announced in its latest financial statement that it is evaluating negotiations with Grupo Abra and that it has the capacity to raise funds from other business units (Azul Cargo) as collateral in the region of US$800 million.
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With information: Reuters
