Azul Announces an 86% Acceptance Rate for Its Exchange Offers

SÃO PAULO, June 28, 2023  /PRNewswire/ -- Azul, the largest airline in Brazil in terms of departures and destinations served, announces today an aggregate acceptance rate of 86% in its previously announced offers to exchange its 2024 and 2026 Senior Notes. An amount of US$291,170,000 in principal of the 5.875% Senior Notes due 2024 representing 72.8% of the outstanding principal, and US$567,602,000 in principal of the 7.250% Senior Notes due 2026 representing 94.6% of the outstanding principal, will be exchanged.

"This is another key milestone in our comprehensive permanent plan which started with the successful negotiation with our lessors and OEMs and now continues with the overwhelming acceptance of our exchange offers with more than 85% participation. This comprehensive plan will significantly strengthen Azul's capital structure and improve our cash generation. We have reached all of these agreements amicably, demonstrating the strength of our long-lasting, mutually beneficial relationships," said Alex Malfitani, Azul's CFO. "With each step the company takes, our partners have responded very positively, signaling strong confidence in the long-term growth and competitive advantages of our business," says Malfitani.

Azul will keep investors and the general market updated on the progress of the exchange offers.

About Azul
Azul S.A. (B3: AZUL4, NYSE: AZUL) is Brazil's largest airline in number of flights and destinations served, with more than 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