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FTI Consulting and C Street Advisory Group provide strategic communications support to Azul as Brazil’s biggest airline declares Chapter 11 in US bankruptcy court to restructure more than $2B in debt.
It has lined up $1.6B in financing to support operations from AerCap aircraft leasing company, and strategic partners United Airlines and American Airlines.
Azul blames its financial downfall on the COVID-19 pandemic, macroeconomic headwinds and supply chain snafus.
CEO John Rodgerson expects Azul will emerge from Chapter 11 as a robust, resilient and industry-leading airline.
The Sao Paulo-based carrier will continue to operate on a normal basis during the reorganization. “Azul continues to fly—today, tomorrow and into the future,” said Rodgerson.
The company has a fleet of more than 200 planes that make 900 daily flights to more than 150 destinations.
Teneo represents American Ocean Minerals Corp as its merges with NASDAQ-listed Odyssey Marine Exploration to create a $1B deep-sea critical minerals research and mining platform that is under US-control.
Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
FTI Consulting handles media for McCormick as the 137-year-old flavors company combines with Unilever Foods in a deal valued at $45B.
Edelman Smithfield handles Sysco as the world's largest food-away-from-home distributor acquires Foxcroft Strategy Group client Jetro Restaurant Depot, which serves delis and mom & pop shops, in a deal valued at $29B.
FGS Global represents Brown-Forman Corp. as it confirms merger discussions with French liquor giant Pernod Ricard.
