On January 28, 2025, Azul S.A. announced the completion of its restructuring with bondholders and lessors, eliminating $1.6 billion in debt and raising $525 million through new Superpriority Notes, significantly improving liquidity and cash generation. This restructuring is expected to reduce interest payments by nearly R$1 billion in 2025 and lower leverage from 4.8x to 3.4x based on EBITDA.