The aid package for airlines approved by Congress in August last year is expected to be released by the end of September, as reported by O Globo. The aid package was initially supposed to be released in April this year.
With a total value of R$4 billion, the financing line will be distributed among airlines, which will need to present counterparties linked to sustainability, regional aviation and fleet growth.
When justifying the crisis that led it to file for restructuring in the United States this week, Azul Linhas Aéreas pointed to the government's delay in releasing funds as one of the obstacles to overcoming financial difficulties.
Azul is the third major Brazilian airline to resort to Chapter 11 restructuring, a process equivalent to judicial recovery in Brazil. The goal is to eliminate US$2 billion in debt.
LATAM Group emerged from Chapter 11 in November 2022, after having entered the process in May 2020, due to the impacts of the pandemic. GOL Linhas Aéreas raised US$1,9 billion in financing, allowing the company to advance in the process of exiting Chapter 11 (judicial recovery in the United States). This financing, with a term of 5 years, aims to strengthen the company's liquidity position, provide working capital and future commercial operations. GOL had initiated the judicial recovery process in the United States in January 2024.
