Azul reports 'faster than expected ramp-up in capacity and demand'

3 August, 2020

Azul announced (02-Aug-2020) its preliminary liquidity position totalled BRL2.3 billion (USD440.3 million) as of 30-Jun-2020, compared to BRL2.2 billion (USD421.2 million) on 31-Mar-2020 and to a previous forecast of BRL2 billion (USD382.9 million). Azul originally forecast a daily cash burn between BRL3 million (USD574,371) and BRL4 million (USD765,828) in May/Jun-2020. For the remainder of 2020 Azul expects an average daily cash burn of approximately BRL3 million with no scheduled debt amortisation as a result of ongoing negotiations with its financial partners. Azul reported a "faster than expected ramp-up in capacity and demand", leading to projections of sufficient liquidity through the end of 2021 assuming no new capital raise. [more - original PR]