March 16, 2020 / 4:06 PM / 14 days ago

BRIEF-Azul Reducing Consolidated Capacity By 20%-25% In March

March 16 (Reuters) - Azul SA:

* AZUL SA - REDUCING CONSOLIDATED CAPACITY BY 20%-25% IN MARCH AND BY 35% TO 50% IN APRIL AND BEYOND UNTIL CORONAVIRUS SITUATION NORMALIZES

* AZUL SA - AS OF MARCH 16TH, ALL INTERNATIONAL FLIGHTS, EXCEPT FLIGHTS LEAVING FROM CAMPINAS, WILL BE SUSPENDED

* AZUL SA - CLOSING NEW LINE OF CREDITS WITH FINANCIAL INSTITUTIONS TO FURTHER STRENGTHEN ITS CASH CUSHION

* AZUL SA - TAKING SEVERAL MEASURES TO REDUCE ITS FIXED COSTS, WHICH REPRESENT APPROXIMATELY 40% OF TOTAL OPERATING COST

* AZUL SA - PREEMPTIVELY NEGOTIATING NEW PAYMENT TERMS WITH ITS PARTNERS

* AZUL SA - MEASURES TO REDUCE FIXED COSTS INCLUDE EXECUTIVE MANAGEMENT TEAM SALARY CUT OF 25% UNTIL SITUATION NORMALIZES

* AZUL SA - CLOSING NEW LINE OF CREDITS WITH FINANCIAL INSTITUTIONS TO FURTHER STRENGTHEN CASH CUSHION

* AZUL SA - ENDED 2019 WITH R$2.8 BILLION IN LIQUID ASSETS, INCLUDING CASH AND CASH EQUIVALENTS AND ACCOUNTS RECEIVABLES

* AZUL SA - CO IS SUSPENDING ALL NEW AIRCRAFT DELIVERIES

* AZUL SA - MEASURES TO REDUCE FIXED COSTS INCLUDE HIRING FREEZE

* AZUL SA - MEASURES TO REDUCE FIXED COSTS INCLUDE GROUNDING AIRCRAFT Source text for Eikon: Further company coverage:

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