April 30, 2020 / 9:05 PM / 2 months ago

Brazil airline Azul says it has received default notices on some aircraft leases

SAO PAULO, April 30 (Reuters) - Brazil airline Azul said on Thursday in a securities filing that it has received default notices on some of its leased aircraft, after failing to renegotiate lease terms due to the coronavirus crisis.

The filing did not say if lessors have sued to repossess those planes, but Azul said it was working on a deal and believes it will be able to reach “satisfactory agreements” on them.

Azul, like many airlines around the world, is skipping lease payments on its aircraft in order to preserve cash. (Reporting by Marcelo Rochabrun; Editing by Sandra Maler)

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