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Azul S.A. Statement on the Successful Settlement of Public Convertible Debentures

Azul S.A. (B3: AZUL4,NYSE: AZUL) and its partners celebrate the successful settlement of its public offering of convertible debentures in Brazil.  The settlement took place on Nov 12 and the official settlement announcement can be found on the Azul Investor Relations website.  Financial advisors to the company included Seabury Securities LLC, a US investment banking firm and Itau BBA, a Brazilian investment bank which acted as sole underwriter for the public offer.

"We want to thank all of our financial partners for their support during this process.  Together with our anchor investors Knighthead and Certares, we are setting the stage for a successful long-term partnership.  Azul's strategic competitive advantages and unique business model, combined with the strong market recovery in Brazil, lead to us to be optimistic about our future.  The successful conclusion of this public offering ensures that we are in a position to be a long-term winner," says John Rodgerson, Chief Executive Officer at Azul.

"Since its founding in 2008, Azul has executed one of the most creative and ambitious business plans in aviation," said Tom Wagner, Founder of Knighthead Capital Management.  "Amidst uncertainty around COVID-19, this transaction provides the airline with one of the best liquidity positions in the global industry.  Brazil has been an excellent and resilient air travel market for several years, and Azul's strong balance sheet and market position set the stage for its future success.  We are excited to partner with management as the company grows in the years ahead."

"Azul is a premier airline that has been recognized globally for delivering great customer experiences and consistently strong financial performance," said Tom Klein Senior Managing Director at Certares.  "That, coupled with Azul's being strategically positioned for growth and a long term winner in Latin American aviation, makes partnering with its respected management team ideal for Certares."

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