This article summarizes reporting by Reuters and data from official company filings. The original Reuters report may be paywalled; this article summarizes publicly available elements and public remarks.

Azul Airlines Exits Chapter 11 Bankruptcy with $2.5 Billion Debt Reduction and New US Investment

Brazilian carrier Azul S.A. formally exited Chapter 11 bankruptcy proceedings in the United States on February 20, 2026, marking the conclusion of a nine-month financial restructuring process. According to reporting by Reuters and official securities filings, the airline has successfully eliminated approximately $2.5 billion in debt and lease obligations while securing significant new equity from major US partners.

The exit positions Azul as the final major Latin American carrier to complete a post-pandemic restructuring, following similar processes by LATAM, Avianca, and Gol. With a leaner balance sheet and renewed capital, the airline has stated it will now pivot from stabilization to strategic growth, specifically targeting demand for the upcoming 2026 FIFA World Cup.

Financial-Results Restructuring Details

The restructuring plan, approved by the U.S. Bankruptcy Court for the Southern District of New York, focused heavily on debt-for-equity swaps and renegotiating contracts without grounding flights. According to summary data regarding the exit, the airline raised approximately $1.375 billion in new debt through Senior Notes and $950 million in new equity capital.

A key component of this financial overhaul involves direct Investment from two of the world’s largest airlines. United Airlines and American Airlines have each invested $100 million into the reorganized carrier. As a result of these capital injections, both US carriers now hold an approximate 8.5% stake in Azul.

In a statement regarding the company’s outlook, CEO John Rodgerson emphasized the carrier’s renewed stability.

“We have emerged significantly strengthened and are positioned for long-term stability and sustainable growth.”

, John Rodgerson, CEO of Azul S.A. (via press statements)

The restructuring also achieved an estimated 50% reduction in annual interest payments compared to pre-filing levels, significantly improving the airline’s cash flow profile.

Operational Changes and Fleet Optimization

While the financial engineering took place in court, Azul implemented strict operational adjustments to improve efficiency. The airline simplified its fleet by returning approximately 20 older generation Commercial-Aircraft, primarily Embraer E195-E1s, to lessors. This move is intended to lower maintenance costs and increase average aircraft utilization across its remaining operational fleet of approximately 170 jets.

Network adjustments were equally aggressive. The carrier cut roughly 50 unprofitable routes to concentrate resources on high-margin domestic hubs, such as Viracopos in Campinas, and key international connections. Despite these cuts, Azul reported carrying a record 32 million customers in 2025 and ranked as the fourth most on-time airline globally.

AirPro News Analysis

The simultaneous investment by United Airlines and American Airlines is a notable development in the Latin American aviation market. Typically, US carriers align exclusively with specific partners to feed their respective alliances (Star Alliance and oneworld). The fact that both major US competitors have taken significant equity stakes in Azul underscores the strategic importance of the Brazilian domestic market.

Furthermore, this dual investment suggests that Azul may remain independent rather than merging with a rival like Gol, a possibility that had been speculated upon during the restructuring process. By securing capital from competing US giants, Azul maintains leverage and connectivity options across multiple international networks.

Strategic Outlook: World Cup 2026

Looking ahead, Azul is aligning its network strategy with the 2026 FIFA World Cup, which will be hosted across the United States, Canada, and Mexico. The airline plans to reinforce flight schedules to the US to capture the anticipated surge in passenger demand between Brazil and North America.

S&P Global Ratings has issued a positive outlook for the airline, citing expectations for capacity expansion and sound operating performance in 2026. The company continues to trade under the ticker AZUL (B3: AZUL4) and its ADRs on the NYSE.

Frequently Asked Questions

When did Azul file for bankruptcy?

Azul filed for Chapter 11 protection in May 2025, citing the impacts of the COVID-19 pandemic, volatile fuel prices, and currency depreciation.

Did Azul stop flying during bankruptcy?

No. Unlike some liquidations, Chapter 11 allows companies to operate normally while restructuring. Azul maintained full operations throughout the nine-month process.

Who owns Azul now?

Ownership has been diluted through debt-for-equity swaps. Notable minority investors now include United Airlines and American Airlines, each holding approximately 8.5%.

Sources: Reuters, MarketScreener, S&P Global Ratings

This article is based on an official press release from Adani Group and additional data from public reporting.

Guwahati Airport’s New Terminal 2 Commences Operations, Quadrupling Capacity

Commercial operations officially began today, February 22, 2026, at the new Integrated Terminal (Terminal 2) of Lokpriya Gopinath Bordoloi International Airport (LGBIA) in Guwahati, Assam. According to an official press release from Adani Airport Holdings Ltd (AAHL), the new facility increases the airport’s annual passenger handling capacity from 3.4 million to 13.1 million, marking a significant shift in the aviation infrastructure of North East India.

The terminal, which was inaugurated by Prime Minister Narendra Modi on December 20, 2025, is designed to serve as the primary aviation gateway to Southeast Asia. The project represents a total investment estimated at ₹5,000 crore (approximately $600 million), with the terminal building alone accounting for over ₹1,600 crore. The transition to the new facility addresses long-standing congestion issues at the airport, which serves as the central hub for the region.

In a statement regarding the operational launch, the Adani Group emphasized that the expansion is not merely a capacity upgrade but a strategic development to bolster connectivity for Assam and its neighboring states. The operator, Guwahati International Airport Limited (GIAL), a subsidiary of AAHL, confirmed that the old terminal (Terminal 1) will now be repurposed into a dedicated cargo hub to support regional trade.

Infrastructure and Capacity Upgrades

The operationalization of Terminal 2 introduces a massive scale-up in infrastructure. The total terminal area has expanded from approximately 20,000 square meters to 140,000 square meters. This physical expansion supports a drastic increase in processing capabilities, designed to handle the projected growth in air traffic over the coming decades.

Key Operational Metrics

According to data provided in the press release and project reports, the new terminal features significant upgrades across all passenger touchpoints:

• Passenger Capacity: Increased from 3.4 million to 13.1 million passengers per annum.
• Runway Throughput: Air Traffic Movements (ATMs) capacity raised from 18 to 34 per hour.
• Check-in Facilities: Expanded to 64 check-in counters.
• Immigration: Now features 20 immigration counters to facilitate international travel.
• Boarding: Equipped with 10 aerobridges to streamline passenger flow.

Jeet Adani, Director of Adani Airport Holdings Ltd, highlighted the collaborative effort behind the project.

Today is more than a commercial milestone. It is a proud moment for the people of Assam and the North-East… This achievement belongs to the countless hands and hearts that turned vision into reality.

, Jeet Adani, Director, Adani Airport Holdings Ltd

Design and Sustainability: The “Bamboo Orchid” Theme

The architecture of Terminal 2, designed by Nuru Karim of NUDES, is marketed as India’s first “nature-themed” airport terminal. The design explicitly references local culture, utilizing the “Bamboo Orchid” theme inspired by the kopou phool (foxtail orchid) and the bholuka bamboo native to Assam.

Sustainability was a core component of the construction brief. The structure incorporates over 140 metric tonnes of bamboo, paying homage to the structural traditions of the Apatani tribe. Inside, the terminal features a “Sky Forest”, an indoor rainforest installation housing nearly 100,000 indigenous plants. The facility also integrates passive cooling systems, extensive natural lighting, and water recycling capabilities to minimize its environmental footprint. These features contributed to the design winning the International Architecture Award 2025.

The Guwahati terminal demonstrates how world-class airport infrastructure can be delivered swiftly while remaining deeply rooted in local identity.

, Gautam Adani, Chairman, Adani Group

Strategic Importance for North East India

With a capacity of 13.1 million passengers, Guwahati (LGBIA) has solidified its position as the undisputed aviation hub of the North East. For comparison, nearby airports such as Imphal and Agartala handle approximately 1.5 to 2 million passengers annually. The expansion allows Guwahati to act as a spoke-and-hub center, feeding traffic to smaller regional airports while maintaining direct connections to major metros and international destinations.

Currently, the airport connects to 21 domestic destinations and 3 international routes (Bangkok, Singapore, and Paro). The increased runway capacity and immigration facilities are expected to attract more international carriers, specifically targeting Southeast Asian markets.

AirPro News Analysis

The opening of Terminal 2 at LGBIA represents a critical maturation point for the privatization of Indian airports. Since the Adani Group took over operations in October 2021, the focus has shifted toward maximizing non-aeronautical revenue and expanding capacity ahead of demand curves.

While the aesthetic and capacity upgrades are substantial, the repurposing of Terminal 1 for cargo is perhaps the more economically significant move for the region. North East India has historically suffered from logistics bottlenecks; a dedicated air cargo hub in Guwahati could significantly lower transit times for perishable goods and export products from Assam, potentially transforming the economic landscape of the state beyond just tourism.

Frequently Asked Questions

When did the new terminal in Guwahati open?

Commercial operations at the new Integrated Terminal (Terminal 2) commenced on February 22, 2026. It was inaugurated earlier by PM Narendra Modi on December 20, 2025.

Who operates the Guwahati International Airport?

The airport is operated by Guwahati International Airport Limited (GIAL), a subsidiary of Adani Airport Holdings Ltd (AAHL), which took over management in October 2021.

What is the capacity of the new terminal?

The new terminal can handle 13.1 million passengers annually, nearly four times the capacity of the previous terminal (3.4 million).

What will happen to the old terminal?

The old terminal (Terminal 1) is slated to be repurposed into a dedicated cargo hub to boost regional trade capabilities.

Sources

• Adani Group Press Release
• Construction World
• India Today
• The Economic Times

This article is based on an official press release from Ethiopian Airlines.

Airlines to Inaugurate Three New Domestic Airports in April 2026

Ethiopian Airlines has announced plans to inaugurate three new domestic airports and launch scheduled passenger services to these destinations by mid-April 2026. The expansion will see the addition of Negele Borena, Gore Metu, and Debre Markos to the carrier’s route map, further solidifying its position as the largest network operator in Africa.

According to the airline, the new services will operate thrice weekly to each destination. This move increases Ethiopian Airlines’ domestic network to 26 airports, following the inauguration of Yabello airport as its 23rd domestic destination in 2025. The expansion aligns with the carrier’s broader strategy to enhance internal air connectivity and support regional economic integration.

Network Expansion Details

The three new airports are geographically distributed to serve distinct regions of the country. Negele Borena is located in the southern Oromia region, a key area for pastoralist communities and cross-border trade. Gore Metu serves the southwestern region, known for its dense forests and coffee production in the Illubabor Zone. Debre Markos is situated in the northwest Amhara region, a historical trade and administrative center.

Ethiopian Airlines Group CEO Mesfin Tasew emphasized the role of air transport in national development. In the press release, Tasew stated:

“The inauguration of these three new airports, along with the commencement of passenger services, represents a major milestone for Ethiopian Airlines and for the nation as a whole. This expansion reflects our steadfast commitment to enhancing connectivity within Ethiopia and serves as a powerful driver of economic growth and regional development.”

The airline confirmed that infrastructure renovation and enhancement remain a priority as it integrates these new stations. The flights are expected to facilitate easier movement for business, tourism, and social visits, reducing travel time significantly compared to road transport in these mountainous and remote areas.

AirPro News Analysis

This expansion underscores Ethiopian Airlines’ aggressive pursuit of its “Vision 2035” strategy, which aims to position the group as a top 20 global aviation competitor while maintaining a robust multi-hub system in Africa. While the carrier is globally recognized for its international long-haul fleet, its domestic network remains the backbone of its hub-and-spoke model at Addis Ababa Bole International Airport.

By connecting secondary and tertiary cities like Debre Markos and Negele Borena, the airline is not only feeding traffic into its international network but also stimulating local economies. The choice of Gore Metu is particularly notable for the coffee industry, potentially expediting the transport of high-value cash crops and business travelers in the southwest. Similarly, Negele Borena’s inclusion strengthens links to the southern borderlands, an area often challenged by long road travel times.

Executive Vision

The airline’s leadership views domestic connectivity as a tool for social inclusion. Tasew highlighted the broader mission behind the new routes:

“Our mission is to build an inclusive and integrated air transport network that empowers communities, unlocks economic opportunities, and supports national development by making safe, reliable, and efficient air travel accessible to all.”

The carrier continues to utilize a mix of aircraft for its domestic operations, which typically includes the De Havilland Q400 turboprop fleet, well-suited for the highland terrain and shorter runways characteristic of Ethiopia’s regional airports.

Frequently Asked Questions

When do flights to the new airports begin?
Passenger services to Negele Borena, Gore Metu, and Debre Markos are scheduled to commence by mid-April 2026.

How frequent will the new flights be?
Ethiopian Airlines plans to operate three weekly flights to each of the three new destinations.

How many domestic destinations does Ethiopian Airlines serve?
With the addition of these three airports, the total number of domestic destinations will rise to 26.

Sources

• Ethiopian Airlines