Brazil airline Azul ready to raise capital after debt deals - CEO

Brazilian airline Azul is ready to raise additional capital, its CE said, after reaching deals with lessors and bondholders to postpone debts maturing in the near term under a broad restructuring plan. John Rodgerson told Reuters the additional cash would help Azul to "grow again" as it plans to open new routes this year. Azul launched on Tuesday exchange offers aimed at pushing bonds set to mature in 2024 and 2026 to 2029 and 2030, respectively, following a deal with aircraft lessors to give them equity and tradable debt in exchange for lower payments. "Now, with all our debt renegotiated and moved forward, we are ready to raise new capital," Rodgerson said. "No one wants to give you money to pay old creditors. They want to give you money to help you grow again." Azul is evaluating the market before providing details of any transaction, but the CEO said it could come "at any moment" and confirmed that loyalty program TudoAzul and its cash flow could be pledged as collateral. Rodgerson had floated that possibility in a press conference earlier this year, following similar moves by US carriers Spirit and Hawaiian, touting it as "much better" collateral than the airline itself.<br/>