Azul S.A. American Depositary Shares (each representing three preferred shares) (AZUL) News
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Latest AZUL News From Around the Web
Below are the latest news stories about Azul Sa that investors may wish to consider to help them evaluate AZUL as an investment opportunity.
Shares of Brazilian discount airline Azul (NYSE: AZUL) bounced back from a 6.5% loss Tuesday and were racing ahead 22% today as of 10:40 a.m. EDT. As recently as February, Azul was still in growth mode, with consolidated passenger traffic up 25% year over year. By May, things were so bad that S&P Global Ratings downgraded the Brazilian airline's debt to CCC+ (a junk level) with a negative outlook promising more downgrades ahead.
The likes of Ryanair (RYAAY) and Azul (AZUL) incur coronavirus-induced losses in Q1.
Azul (AZUL) expects to slash its capacity by 75-85% for second-quarter 2020.
What happened On Friday, Brazil's state development bank said that the massive South American country's top three air carriers accepted an aid package worth 4 billion reais ($683 million) in total.
Tripping air travel demand due to COVID-19 causes consolidated load factor to tank by 1560 basis points.Tripping air travel demand due to COVID-19 causes consolidated load factor to tank by 1560 basis points.
Coronavirus-led demand slump and depreciation of the Brazilian real weighed on Azul's (AZUL) Q1 performance. Despite adversities, passenger revenues rose in the quarter.
AZUL earnings call for the period ending March 31, 2020.
(Bloomberg) -- The rescue package to airlines in Brazil will total about 4 billion reais ($680 million), according to people familiar to the matter.The package, which was presented to airlines on Wednesday, includes credit from development lender BNDES, which will provide 60%, or no more than 2.4 billion reais, the people said, asking not to be named because the discussions are private. Other banks will provide another 10%, or no more than 400 million reais, they said, adding that the companies will have to seek at least the remaining 30%, or 1.2 billion reais, from investment funds via capital markets.Azul SA, Gol Linhas Aereas Inteligentes SA and Latam Airlines Group SA can seek the aid, the people said. The companies will use local bonds and warrants to raise funds, and the price for...
Brazilian state development bank BNDES proposed a rescue package worth 4 billion reais ($680 million) for the nation's airlines, less than half the amount initially anticipated, Azul SA's Chief Executive John Rodgerson said on Thursday. Rodgerson confirmed reports on the rescue size on an analysts' call, saying he was "disappointed" with the value but that he understood Brazil lacked resources for a larger bailout. The plan, which first centered around a 10 billion reais credit line, has shrunk in value over time as private lenders balked at extending bigger loans and because the airlines were reluctant to accept larger share dilution, said two sources who declined to be identified as the discussions were private.
Lower air travel demand and increased cargo services are likely to get reflected in Azul's (AZUL) first-quarter 2020 results.