Planemaker also agreed to a $10 billion credit facility with a consortium of banks to shore up its balance sheet amid a strike and problems with its business divisions
According to the Brazilian carrier, US$600 million in debt will be exchanged for 100 million preferred shares. Shares appreciated with lower risk of bankruptcy
Brazilian airline is evaluating alternatives to deal with billion-dollar debt, but denied a possible request for judicial protection. Shares closed down 20% on Thursday
Shares of the Brazilian planemaker had already appreciated by more than 50% by March 25th. Analysts point out that the company could benefit from the bottlenecks of Airbus and Boeing to serve the commercial aircraft market