São Paulo, March 2, 2020 – Azul S.A, “Azul”, (B3: AZUL4, NYSE: AZUL), the largest airline in Brazil by number of flight departures and cities served, announces today that the related party sublease agreement with Breeze Aviation, a U.S. start-up airline, was approved by 97% of the votes received during today’s Extraordinary Shareholders’ Meeting.
“I would like to thank our shareholders for all their support in helping us accelerate our fleet transformation, the main source of our growth and margin expansion in the coming years. In addition to providing us with additional fleet flexibility, each E1 replaced with a next-generation aircraft will contribute to a significant reduction in operating costs while contributing to an increase in revenue streams. We are looking forward to replacing our entire fleet of E1s with next-generation aircraft by 2022”, says John Rodgerson, CEO of Azul.
As determined by Azul’s related party transaction policy, Azul’s controlling shareholder abstained from voting. The table below provides detailed voting results for the related party transaction matter considered and voted upon at the meeting.