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Azul Reports Preliminary Impact of Truck Driver’s Strike
S„o Paulo, June 1st, 2018 - Azul S.A., "Azul", (B3: AZUL4, NYSE: AZUL), the largest airline in Brazil by number of cities served, announces today the preliminary operational and financial impact of Brazil’s truck drivers’ strike that began on May 21st.
- Operating results are currently forecast to have a one-time impact from the strike of approximately R$ 50 million, to be recognized in full in the second quarter of 2018.
- The strike led to 169 operational flight cancellations out of a total of 2,637 flights between May 24 and May 27 due to jet fuel shortages at several airports supplied by fuel trucks. The Company also proactively reduced flight schedules by an additional 523 flights from May 28 to June 3 in response to higher than average customer cancelation and no-show rates.
- Azul implemented several initiatives to minimize the impact of the strikes, including fuel tankering operations and technical refueling stops, waiving cancellation and change fees for affected flights, and implementing shuttle services to help crewmembers reach their work stations.
According to John Rodgerson, Azul’s CEO, "our crewmembers have been working very hard to accommodate our customers over the past few days and we remain committed to offering the best travel experience possible. Our network strength, diversified fleet and strong corporate culture were key to help minimize the short-term impact of this unexpected event. We remain confident in our business strategy and our ability to maximize customer and crewmember satisfaction while delivering superior value to our shareholders."
Azul will hold a conference call to discuss this investor update on Friday, June 1st at 11:00 am EST.
Click here to access the document.