Azul holds enough cash for 'next five years,' CEO says

Azul holds enough cash for 'next five years,' CEO says

Capital Markets Corporate & Sovereign Strategy Debenture Equity Debt Structured Finance Project & Infrastructure Finance Brazil Latin America

Brazilian airline Azul posted a net loss of BRL1.23 billion ($226 million) in the third quarter compared to the same period last year but has enough liquidity to support the company for the next five years, Azul chief executive officer John Rogerson said on Monday. Azul reported BRL2.3 billion in immediate liquidity and an additional BRL1.7 billion from the sale of convertible debentures with the option of raising an additional BRL550 million under the same terms at the end of the third quarter.

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