Aviation
Commercial /
Brazil
Azul announces results
Cash situation improves in 2Q20
A-300-900
Azul
voeazul.com.br
José PEDRO Magalhães Ramos
8/4/2020
The financial result of the company Azul Linhas Aéreas in the second quarter of 2020 is surprising. The company, which had 2.2 billion reais in cash at the end of the first quarter, announces that it reaches the end of the second quarter with a strengthened cash position for 2.3 billion.
The result may be, at least in part, the result of the control over the expected daily cash burn for the pandemic stop period. It was expected something around 3 to 4 million reais but per day, but the real value was below the estimated, which may have contributed to the good result.
A-300-900
Azul
voeazul.com.br
The cash burn is now estimated at 3 million for the next quarter.
the company negotiated well with banks and creditors in general, which projects a situation of robust liquidity at least until the end of next year. A more robust than expected demand recovery also contributed to this. the possibility of raising financing at an "opportune moment" remains open if demand recovery forces it to do so.
The second quarter of the current year would have been, according to the company's CFO, Alex Malfitani, the most difficult in history. The executive sent a message of confidence in the future and in the company's ability to go through the difficult phase faced by aviation and adds that the company will consolidate its position as one of the most profitable in the industry.
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José PEDRO Magalhães Ramos
He is a professional with almost four decades of experience in aviation. Having worked at Rio Sul and TAM in the 1980s and in the 1990's, joined Vasp where he spent 10 years in the Engineering area. He then created and operated the website www.aerospace.com.br for 4 years, now extinct and in 2004 he joined Gol, having stayed until 2017 and passed in various technical and business areas. Currently as a technical consultant still-and always-in the aviation area, he dedicates his private time to create and operate this our portal!
   
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