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São Paulo, May 28, 2025 - Azul S.A. (B3:AZUL4; NYSE:AZUL), the largest airline in Brazil by number of flight departures and cities served, has announced the formation of a Special Independent (LON:IOG) Committee. The announcement was made today following the approval by the Company’s Board of Directors.
The newly formed Committee is composed of three independent directors of the Company: Mrs. Renata Faber Rocha Ribeiro, Mr. Jonathan Seth Zinman, and Mr. James Jason Grant. The Committee is tasked with providing advisory services to the Board, specifically concerning the evaluation, review, planning, oversight of negotiations, and offering recommendations on any matters related to the Chapter 11 proceedings initiated by the Company.
This move comes as part of Azul’s ongoing efforts to navigate the Chapter 11 proceedings, with the aim of restructuring the company’s operations and finances. The establishment of the Committee is intended to ensure that the process is handled with the necessary independence and expertise.
Azul, recognized for its punctuality and service, continues to operate a significant number of daily flights to various destinations, maintaining a robust network despite the challenges it faces. The airline has been acclaimed for its performance, including being named the most on-time airline in the world in 2023 by Cirium and earning the title of the best airline in the world by TripAdvisor (NASDAQ:TRIP) in 2020.
The creation of the Special Independent Committee is part of Azul’s broader strategy to emerge from Chapter 11 proceedings as a stronger, more competitive airline. The announcement is based on a press release statement and reflects the company’s commitment to transparency and good governance as it works through this critical phase of its corporate restructuring.
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