Special Reports

The Brazilian airline has been active in financial markets as it forges ahead with international expansion plans. Azul Linhas Aéreas Brasileiras had a busy — and successful — 2017. It raised 2.02 billion reais ($526 million) in an IPO in April, as strong investor demand convinced the airline to increase the size of the offer by nearly 20%. Sources at the time said the order book was up to seven times oversubscribed, with US investors snapping 65% of the orders, even after Brazilian securities regulator CVM had briefly suspended the IPO due to irregularities in the disclosure of information. The IPO’s success was remarkable because Azul had attempted to sell shares in three separate efforts s

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