Commercial Aviation
Azul S.A. Returns to NYSE American After Chapter 11 Restructuring
Azul S.A. resumes trading on NYSE American June 1, 2026, after Chapter 11 exit and financial restructuring, with plans to uplist to NYSE by July.

This article is based on an official press release from Azul S.A.
Azul S.A. Returns to U.S. Exchanges Following Rapid Restructuring
On May 26, 2026, Azul S.A., Brazil’s largest Airlines by cities served, announced that its American Depositary Shares (ADSs) have been approved for listing on the NYSE American exchange. According to the company’s official press release, trading is scheduled to commence on June 1, 2026, under the ticker symbol “AZUL.”
This announcement represents a significant milestone in what has been a rapid corporate turnaround for the South American carrier. Exactly one year prior, in May 2025, Azul filed for Chapter 11 bankruptcy protection in the United States, a move that resulted in its delisting from the main New York Stock Exchange (NYSE). Now, having successfully emerged from bankruptcy in February 2026 with a deleveraged balance sheet, the airline is utilizing the NYSE American listing as a transitional step.
Company statements indicate that Azul plans to uplist back to the main NYSE by early July 2026, provided it meets all applicable listing requirements. We at AirPro News are closely monitoring this phased return to the primary U.S. public markets, which underscores the airline’s renewed financial stability.
Details of the NYSE American Listing
Transition from OTC Markets
The transition to the NYSE American exchange will bring structural changes to how Azul’s shares are traded in the United States. The press release details that each ADS will represent two common shares of the company. Upon the commencement of trading on June 1, 2026, Azul’s ADSs will officially cease trading on the Over-The-Counter (OTC) Markets, where they have been available under the ticker “AZLUY.”
For investors holding shares in Azul’s home market, the company confirmed that its common shares will continue to trade normally on Brazil’s primary exchange, B3 S.A., under the ticker “AZUL3.” The airline explicitly noted in its announcement that existing shareholders do not need to take any action regarding this transition.
“Our listing on NYSE American marks a defining moment for Azul as we emerge from our restructuring process on a stronger financial footing. We are on track to uplist to the New York Stock Exchange in early July 2026, when we expect to satisfy all applicable listing requirements and conditions.”
John Rodgerson, CEO of Azul, as quoted in the May 26 press release.
A Swift Corporate Turnaround
Chapter 11 and Financial Restructuring
To understand the significance of the NYSE American listing, it is essential to look at the airline’s recent Financial-Results. Facing pandemic-era leverage, currency volatility, and heavy aircraft lease obligations, Azul filed for voluntary Chapter 11 bankruptcy protection on May 28, 2025. The restructuring process was notably swift for the aviation sector, concluding in less than nine months while the airline maintained normal flight operations.
According to historical financial data provided alongside the company’s announcements, Azul officially exited Chapter 11 on February 20, 2026. The restructuring yielded substantial financial improvements. The company reported reducing its debt and lease obligations by approximately $2.5 billion and cutting its annual interest expenses on loans and financing by over 50%.
Furthermore, Azul successfully raised $850 million in new equity and secured $1.375 billion in exit financing. In a statement from February 2026, CEO John Rodgerson noted that the comprehensive restructuring effort positioned the airline for long-term sustainable growth and significantly increased its financial resilience.
Strategic Backing and Market Position
Support from U.S. Legacy Carriers
A critical component of Azul’s successful emergence from bankruptcy was the financial backing it received from major U.S. airlines. The $850 million equity raise included a $100 million Investments from United Airlines, which serves as a codeshare partner. Additionally, American Airlines committed an additional $100 million, pending antitrust approval. This capital injection from global aviation leaders highlights strong industry confidence in Azul’s regional-focused business model.
Azul maintains a dominant position in the Brazilian aviation market. The company operates approximately 800 daily flights to over 137 destinations, utilizing a network of 250 non-stop routes. With a fleet of over 180 aircraft and a workforce exceeding 14,000 crewmembers, Azul is the largest airline in Brazil measured by the number of flight departures and cities served.
AirPro News analysis
We view Azul’s rapid return to the U.S. exchanges as a testament to its aggressive and effective restructuring Strategy. Emerging from Chapter 11 with a net leverage ratio below 2.5x, the lowest in the company’s history, has fundamentally altered its risk profile. This improved financial health was recently validated by S&P Global Ratings, which upgraded Azul’s credit rating from ‘D’ to ‘B-‘ with a stable outlook, citing a leaner capital structure and stronger cash generation.
Furthermore, Azul’s competitive moat remains robust. According to executive remarks, 80% of Azul’s routes currently face no direct competition. This near-monopoly on a vast majority of its domestic network provides the airline with significant pricing power. When combined with a deleveraged balance sheet and strategic Partnerships with U.S. legacy carriers, Azul appears uniquely positioned to absorb macroeconomic shocks, such as fuel price volatility, far better than it could prior to its May 2025 bankruptcy filing.
Frequently Asked Questions
What happens to current AZLUY shares?
According to the company’s announcement, Azul’s ADSs will cease trading on the OTC Markets under the ticker “AZLUY” once they begin trading on the NYSE American exchange under the ticker “AZUL” on June 1, 2026.
Will this affect Azul’s Brazilian shares?
No. The company has confirmed that its common shares will continue to trade normally on Brazil’s B3 exchange under the ticker “AZUL3,” and existing shareholders do not need to take any action.
Sources
Photo Credit: Paris Aéroport
Aircraft Orders & Deliveries
Porter Airlines Secures BNDES Financing for 19 Embraer E195-E2s
Porter Airlines secures BNDES financing for up to 19 Embraer E195-E2 deliveries through December 2030, backed by Brazilian export credit.

Porter Airlines (PD) has secured a financing commitment from the Brazilian Development Bank (BNDES) to support the delivery of up to 19 Embraer E195-E2 aircraft through December 2030. The agreement, announced on July 29, 2026, provides the capital required for the majority of the Canadian carrier’s remaining firm orders for the narrowbody jet.
In a press release issued by Porter Aviation Holdings Inc., the company confirmed the financing is fully backed by Export Credit Insurance from Brazil’s Export Credit Guarantee Fund (FGE), which is managed by the Brazilian Agency for Guarantee Funds and Guarantees (ABGF). The financial backing ensures a stable delivery pipeline as Porter continues its rapid network expansion across North America, Latin America, and the Caribbean.
Fleet expansion and delivery timeline
Porter Airlines introduced the Embraer E195-E2 to its fleet in 2023. The airline holds a total of 75 firm orders for the aircraft type and has already taken delivery of 54 units. Prior to this new agreement, BNDES had previously supported the financing of three aircraft currently operating in the Porter fleet.
Rob Palmer, Executive Vice President and Chief Financial Officer at Porter Airlines, stated that the E2 fleet has been fundamental in introducing the airline to millions of new passengers over the past three years.
“This represents a great milestone for Porter, successfully securing financing for the majority of our remaining firm E2 order. Having BNDES and ABGF as partners at this stage demonstrates that our business plan is progressing well, with many more E2 deliveries to come,” Palmer said.
Brazilian export support and manufacturer relations
The financing arrangement highlights the role of Brazilian state-backed institutions in supporting Embraer’s export market. By utilizing the FGE and ABGF, BNDES facilitates international sales for Brazil’s aerospace sector while providing operators like Porter with long-term capital stability.
Felipe Santana, Executive Vice President of Financial and Investor Relations at Embraer, noted the importance of the transaction for both the manufacturer and its financial partners. Santana highlighted Porter’s position as one of the largest global operators of the E2 family.
“It is a great satisfaction to see this customer’s fleet growth and to be able to connect more people with our aircraft, in addition to celebrating the solid partnership with BNDES in supporting our exports,” Santana said.
AirPro News analysis
We view this financing agreement as a critical de-risking step for Porter Airlines as it executes the final phase of its initial Embraer E195-E2 fleet strategy. Securing a delivery pipeline through December 2030 shields the carrier from near-term capital market volatility. The involvement of BNDES underscores Embraer’s competitive advantage in leveraging state-backed export credit to finalize large-scale fleet placements in the North American market.
Sources: Porter Aviation Holdings Inc.
Photo Credit: Porter Airlines
Commercial Aviation
Airbus A350-1000ULR Sets Commercial Flight Distance Record
An Airbus A350-1000ULR flew 12,460 nautical miles nonstop from Melbourne to Toulouse in 24 hours and 24 minutes.

The first Airbus A350-1000ULR flight test aircraft landed in Toulouse, France (TLS), on July 28, 2026, completing a 24-hour and 24-minute nonstop development flight from Melbourne, Australia (MEL). The 12,460-nautical-mile journey marks the longest flight ever completed by a commercial aircraft, validating the platform’s capability for ultra-long-haul operations.
In a press release issued by Airbus, the manufacturer confirmed the flight was a critical milestone for Qantas Airways (QF) and its forthcoming “Project Sunrise” network. The Australian carrier plans to use a fleet of 12 A350-1000ULR jets to launch nonstop commercial service connecting Australia’s east coast with cities including London and New York, with initial deliveries expected in April 2027.
Validating ultra-long-range systems
The primary objective of the development flight was to test the aircraft’s specialized fuel management systems and cabin comfort parameters under extreme endurance conditions. The A350-1000ULR features an additional rear center tank (RCT) with a capacity of 20,900 litres, enabling an approximate range of 10,000 nautical miles.
Airbus test pilot Xavier Pepin noted that while much of the RCT’s functionality had been demonstrated earlier in the flight test campaign, the Melbourne-to-Toulouse leg finalized remaining test points.
“So we filled this tank to validate all necessary parameters during the mission, making this, along with cabin comfort, the primary focus of our testing,” Pepin said.
The test aircraft, designated MSN707, completed its initial first flight on June 2, 2026. The outward journey departed Toulouse for Melbourne on July 23, 2026, before the record-setting return leg commenced on July 27, 2026. To avoid potential air traffic control complications with unpublished tracks, the return flight followed a unique eastbound routing across the Pacific Ocean, North America, and the Atlantic Ocean.
Crew fatigue management and operational records
Operating an aircraft for more than 24 continuous hours requires specific fatigue management protocols. The flight deck was staffed by a joint team of Airbus test pilots and Qantas captains.
Pepin explained that the crew implemented four-hour shifts for each pilot, rotating every two hours. This staggered schedule ensured a two-hour overlap between incoming and outgoing pilots to maintain full situational awareness. The crew utilized the rear cabin crew rest compartment during their off-duty periods, allowing them to quickly return to the cockpit or flight test engineer station if needed.
The 24-hour and 24-minute duration surpasses the previous commercial flight record of 22 hours and 42 minutes, set in 2005 by a Boeing 777-200LR flying from Hong Kong to London, according to reporting by The Guardian. The Airbus test demonstrated a target block time capability of 23 hours, exceeding the 21-hour and 40-minute intended flight time for the planned Project Sunrise routes.
The milestone flight generated substantial public interest. Reuters reported that 3.6 million people monitored the journey on Flightradar24, making it the second-most-tracked flight in the platform’s history.
AirPro News analysis
The successful completion of this 24-hour endurance test is a definitive technical victory for Airbus and a crucial de-risking event for Qantas. By proving the A350-1000ULR can sustain a 23-hour block time in real-world conditions, the manufacturer has effectively answered the primary aerodynamic and fuel-burn questions surrounding Project Sunrise. We view the integration of the 20,900-litre rear center tank as the linchpin of this capability. Moving forward, the focus will likely shift from aircraft performance to regulatory certification of the extended crew duty limits and passenger wellbeing protocols required for regular 21-hour commercial sectors.
Sources: Airbus
Photo Credit: Airbus
Aircraft Orders & Deliveries
De Havilland Canada Earns EASA Certification for Twin Otter Classic 300-G
De Havilland Canada secured EASA certification for the DHC-6 Twin Otter Classic 300-G, with first delivery to Zimex Aviation already completed.

De Havilland Aircraft of Canada Limited has secured European Union Aviation Safety Agency (EASA) certification for its DHC-6 Twin Otter Classic 300-G, clearing the path for European operations and deliveries to global regions that recognize the regulatory standard.
Announced in a press release on July 22, 2026, during the Farnborough Airshow, the regulatory approval marks a major milestone for the next-generation Twin Otter program. The certification validates the updated airframe and its modern avionics suite, enabling the manufacturer to expand its delivery footprint to operators requiring EASA compliance.
Zimex Aviation inaugurates European operations
The first EASA-certified Twin Otter Classic 300-G has already entered commercial service. On June 24, 2026, De Havilland Canada delivered the initial production aircraft, bearing serial number 998, to Switzerland-based Zimex Aviation Ltd. The operator has a long history with the aircraft type, having flown Twin Otter airframes for more than five decades in various operational environments.
Daniele Cereghetti, Chief Executive Officer of Zimex Aviation Ltd., noted that the new variant maintains the operational characteristics of the legacy fleet while introducing necessary upgrades.
“The Twin Otter has long been an important part of our fleet. The Classic 300-G builds on everything we value about the aircraft while adding modern technology and improved efficiency,” Cereghetti said. “We are proud to be the first operator flying the EASA-certified aircraft and look forward to putting it to work supporting our customers around the world.”
De Havilland Canada Vice President of Sales Ryan DeBrusk highlighted the operational readiness of the new airframe. He stated that the manufacturer is pleased the first EASA-certified aircraft is already flying with Zimex Aviation, which demonstrates that the aircraft is delivering on its promise from day one.
Global fleet expansion and recent orders
The EASA certification announcement follows a series of recent delivery and sales milestones for the Classic 300-G program. On June 18, 2026, De Havilland Canada delivered the first of two Twin Otter Classic 300-G aircraft to Ethiopian Airlines. The African carrier is utilizing the aircraft to support regional connectivity across East Africa, operating in environments that require the short takeoff and landing capabilities inherent to the DHC-6 design.
Concurrent with the EASA certification announcement on July 22, 2026, De Havilland Canada signed a Letter of Intent (LOI) with Island Aviation Services Limited, operating as Maldivian. The agreement covers two DHC-6 Twin Otter Classic 300-G aircraft, marking the first order for this specific variant in the Maldives. The Classic 300-G features the Garmin G1000 NXi integrated flight deck, which provides operators with modernized navigation and situational awareness tools compared to legacy Twin Otter flight decks.
AirPro News analysis
We view the EASA certification of the Twin Otter Classic 300-G as a critical commercial unlock for De Havilland Canada. EASA approval is not only mandatory for European operators like Zimex Aviation but also serves as the baseline certification standard for numerous civil aviation authorities globally. By securing this validation, De Havilland Canada effectively opens the addressable market for the 300-G variant.
The rapid succession of the Ethiopian Airlines delivery, the Zimex Aviation delivery, and the Maldivian LOI demonstrates sustained demand for rugged, unpaved-runway capable utility aircraft. The integration of the Garmin G1000 NXi avionics suite resolves the primary obsolescence issue that faced legacy DHC-6 operators. We expect this modernization, combined with the EASA stamp of approval, to drive a steady replacement cycle among existing Twin Otter operators over the next decade.
Sources: De Havilland Aircraft of Canada Limited (EASA Certification)
Photo Credit: De Havilland Aircraft of Canada Limited
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