Azul plans up to R$ 2 billion debenture issue to finance aviation fuel purchases
AZUL•Azul plans to issue up to R$ 2 billion in secured, nonconvertible debentures, with net proceeds exclusively funding eligible aviation fuel purchases from Raízen for domestic operations.
1. Debenture financing
Azul Linhas Aéreas Brasileiras plans to issue up to R$ 2 billion in secured, nonconvertible debentures across as many as 18 series. Azul will guarantee the financing, which shareholders authorized on October 23, 2026. Proceeds will fund eligible aviation fuel purchases from Raízen for domestic operations, with financing capped at 85% of each eligible contract or invoice and Azul required to contribute at least 15% from its own funds. The offering is limited to professional investors, and secondary trading cannot begin until all issued series are fully distributed.
