Brazilian airline Azul SA hopes to take over 30 of struggling Avianca Brasil’s aircraft at cheaper lease rates, take control of two-thirds of Avianca’s airport slots and rehire many of its workers, while avoiding its crippling debts and any labor disputes, Chief Executive John Rodgerson said on Thursday. If the bid is successful, it would restructure the domestic Brazilian air travel market, reducing the number of big players from four to three, Reuters reported.

Brazilian airline Azul SA on Monday said it will seek to buy certain assets held by struggling rival Avianca Brasil for $105 million, on the same day a local court allowed the carrier to hold onto its planes despite mounting missed payments, Reuters reported. Under the proposed terms, Azul would buy airport slots and assume some aircraft leases from Avianca Brasil but inherit none of its debts.

Brazilian state bank Caixa Economica Federal is preparing an extraordinary provision of 7 billion reais ($1.87 billion) due to expected defaults on home loans and a loss of value in the real estate held by the bank, two sources told Reuters. The move is being done at the behest of newly appoint Chief Executive Pedro Guimaraes, said the sources, who requested anonymity to discuss private matters, Reuters reported. If the proposal goes into effect, it will reduce profit to 10 billion reais in 2018, against the bank’s expectations for 16 billion reais, the sources said.

Brazilian conglomerate Odebrecht SA next week will ask its bondholders to accept losses of more than 70 percent from their bonds’ face value as part of a restructuring, two sources with knowledge of the matter said on Wednesday. Around $3 billion in outstanding Odebrecht Finance Ltd bonds will be affected, the sources added, asking for anonymity to disclose private plans, Reuters reported. The exact size of the haircut is still undefined, but the person said it could be between 70 percent and 80 percent of the bonds’ value.

Samarco Mineracao SA, the Brazilian mining venture that hasn’t operated since a deadly dam collapse in 2015, will seek to reboot talks with creditors after one of its parent companies suffered an even worse disaster at its own site, according to people involved in the discussions. Last month’s deadly accident at a Vale SA tailings dam in Minas Gerais state has upended the outlook for Samarco, which is jointly owned by Vale and BHP Group Ltd, Bloomberg News reported.

Funds controlled by activist investor Elliott Management have agreed to extend $75 million in financing to bankrupt airline Avianca Brasil, according to documents seen by Reuters on Wednesday. A term sheet signed by Manchester Securities Corp, Elliott Associates and Elliott International was submitted to the court overseeing Avianca Brasil’s bankruptcy proceedings on Monday, the document shows.

Brazilian fertilizer company Fertilizantes Heringer SA has said it is filing for bankruptcy protection, closing down nine plants in Brazil and laying off their workers, Reuters reported. Heringer, among the largest players in the Brazilian fertilizer market with annual output of around 6 million tonnes, explained in a securities filing late on Monday that its liquidity situation deteriorated recently, leading to the decision. Reuters last week reported that the company was closing down 10 installations including plants and regional offices, and laying off an unspecified number of workers.

Banco Bradesco SA on Thursday posted forecast-beating quarterly earnings and set more aggressive targets for 2019, including eyeing upcoming government asset sales, sending the Brazilian lender’s shares to a record high. Brazil’s second-largest privately owned bank reported a 19.9 percent rise in fourth-quarter profit over a year earlier and beat analysts’ average estimate on lower loan-loss provisions. Recurring net income at Banco Bradesco came in at 5.830 billion reais ($1.58 billion) in the fourth quarter, above the average Refinitiv estimate of 5.526 billion reais.

Brazilian fertilizer company Fertilizantes Heringer SA has decided to close several of its plants and distribution centres as part of a restructuring plan to lower its debt burden, two sources told Reuters on Thursday, the International New York Times reported on a Reuters story. Heringer, one of the largest players in the Brazilian fertilizer market, sent a message to workers on Thursday in at least 10 installations, including plants and regional offices, advising them that they faced closure, according to a e-mail message seen by Reuters. Workers in those units would be laid off.

Brazilian airline Avianca Brasil, which filed for bankruptcy protection in December, expects that advanced loan talks with hedge fund Elliott Management Corp will avoid the grounding of its planes, two sources with knowledge of the matter said on Thursday, Reuters reported. Avianca Brasil has been talking to Elliott about the hedge fund’s providing a 250 million real ($68.59 million) loan, the sources said. No agreement has yet been reached, however, and the aircraft lessors have not been paid, the people added, asking for anonymity to disclose private talks.