SCHEDULE 13G: VR Global Partners and Affiliates Divest Entire 5.48% Stake in Azul S.A.

VR Global Partners, along with its affiliated entities and principal, Richard Deitz, have fully exited their beneficial ownership of 49,141,785 Preferred Shares, representing a 5.48% stake in Brazilian airline Azul S.A., as of April 30, 2025.

Summary

• VR Global Partners, L.P., and its affiliated entities (VR Advisory Services Ltd, VR Capital Participation Ltd., VR Capital Group Ltd., VR Capital Holdings Ltd.) and principal Richard Deitz, collectively referred to as the "Reporting Persons," have filed a Schedule 13G.
• The filing indicates that as of April 25, 2025, the Reporting Persons beneficially owned 49,141,785 Preferred Shares of Azul S.A., which represented approximately 5.48% of the total Preferred Shares outstanding.
• However, the Reporting Persons fully exited their entire position in Azul S.A. on April 30, 2025, resulting in 0 shares beneficially owned as of the filing date.
• The percentage of class is based on 896,039,753 Preferred Shares of Azul S.A. outstanding as of April 24, 2025, as reported in the Issuer's Form 20-F filed on April 29, 2025.
• The filing certifies that the securities were acquired and held in the ordinary course of business and not for the purpose of changing or influencing control of Azul S.A.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of a change in beneficial ownership. While a significant investor exiting a position could be interpreted negatively by the market, the filing itself provides no commentary or reasons for the divestment, thus maintaining a neutral factual tone from the perspective of the issuer's performance.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: A significant institutional investor has fully divested its stake, which could lead to increased selling pressure or a perception of reduced institutional confidence, potentially impacting share price.
• Investors: Provides transparency regarding changes in major shareholder positions, allowing other investors to assess the evolving ownership structure of Azul S.A.

Key Dates

Keywords

Azul S.A., AZUL, Schedule 13G, beneficial ownership, VR Global Partners, VR Advisory Services, Richard Deitz, share divestment, institutional investor, preferred shares, American Depository Shares