São Paulo, April 16, 2020 – Azul S.A. announces today the hiring of a team of advisors to increase efficiency in light of the Covid-19 crisis and to help lever Azul’s strength to prepare itself to the new economic environment following the end of the pandemic. The engagement of advisors is consistent with previously disclosed measures including the reduction of the Company’s network, salary cuts and the launch of a successful leave of absence program with adhesion of over 10,000 crewmembers , as well as the suspension of aircraft deliveries during 2020.
The Company selected Galeazzi & Associados, a leading corporate consulting firm, which has also provided advice in the past on Azul’s cargo business strategy. Galeazzi’s has worked with several renowned companies in Brazil including Itaú, Magazine Luiza, BRF, and Pão de Açúcar.
To support Azul’s fleet plan strategy and engage with aircraft manufacturers and lessors, the Company hired Plane View Partners, an aviation consultant. Law firms Pinheiro Neto and TWK will be responsible for commercial negotiations.
“Over the last 11 years we have created a sustainable long-term competitive advantage with our business model. Our focus now is to take the best of that competitive advantage and optimize it for the post COVID-19 world so that we can become even more efficient, flexible and in a better position to take advantage of future opportunities. To help us with this process in a constructive and beneficial manner for Azul and its partners, we have hired a team of expert advisors. We entered this crisis as one of the best airlines in the world and our intention is to exit it even stronger. Together with our partners we will make history as we continue to build the best airline in the world”, said Alex Malfitani, Azul’s CFO.