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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.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
Joele Frank handles C.H. Robinson Worldwide as the freight transportation company acquires RXO Inc. in a stock and cash transaction pegged at $5.8B to create a company with an enterprise value of more than $25B.
Brunswick Group handles France’s Schneider Electric as it acquires Boston’s PTC, maker of engineering software, for $22.6B cash.
