SAO PAULO, May 30 (Reuters) - Brazilian airline Azul ( AZUL )

aims to exit Chapter 11 proceedings early next year,

Fabio Campos, institutional and corporate vice-president, told

reporters in a press conference on Friday.

Asked about plans to combine operations with local airline

Gol, Campos said Azul ( AZUL ) will now focus primarily on its

financial restructuring process. Azul ( AZUL ) filed for Chapter 11

protection in the United States earlier this week.

Abra, the majority investor in Gol and Colombia's Avianca,

announced in January with Azul ( AZUL ) that they had signed a

non-binding memorandum of understanding with the intent of

combining their businesses in Brazil.

Campos also noted that the MoU with Gol, although not Azul's ( AZUL )

current priority, remains valid.

Azul ( AZUL ) completed this week its initial Chapter 11 hearing,

with the court granting approval for the carrier to immediately

access $250 million of its $1.6 billion debtor-in-possession

financing, he added.

The amount, combined with other judicial approvals and

revenue generated from ongoing operations, will provide enough

liquidity to support uninterrupted operations, the company said.

According to Campos, Azul ( AZUL ) is not planning massive layoffs in

the face of its financial restructuring, with sales and

operations unaffected by the proceedings.

Prior to filing for Chapter 11 protection, Azul ( AZUL ) had entered

into agreements with key financial stakeholders, including

existing bondholders, aircraft lessor AerCap ( AER ), and

partners United Airlines and American Airlines ( AAL ).

Additionally, the executive noted on Friday that talks with

other lessors, beyond AerCap ( AER ), are ongoing.

Azul ( AZUL ) was the latest Latin American carrier to file for

bankruptcy, joining a list of airlines in the region that have

been severely impacted by the COVID-19 pandemic.