Azul near new debt deal with lessors, Reuters reports

Azul has moved closer to a new deal with lessors, Gabriel Araujo and Luciana Novaes Magalhaes of Reuters report, citing three people familiar with the talks. “There is momentum building towards a successful conclusion of the out-of-court restructuring,” one of the sources said, adding that Azul and lessors met in New York in recent weeks. Azul told Reuters last month that it was not considering Chapter 11 and would offer lessors an equity stake to settle obligations that had been scheduled for payment over three years. Shares of Azul are up 24% to $2.59 in midday trading.