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Azul Announces Sale of Six E-Jets
Sale is part of the Company’s Fleet Transformation Process
São Paulo, June 1st, 2018 - Azul S.A. announces today the sale of six E-195s, continuing Azul’s fleet transformation process. These E-Jets will be replaced by next-generation A320neos, which are more fuel-efficient and have 56 additional seats compared to the E-195, resulting in a unit cost reduction of approximately 29% on longer-haul domestic flights.
As a result of this transaction, our pro-forma first quarter 2018 debt position would have been reduced by R$ 244 million, net cash would have been increased by R$ 55 million and leverage in terms of adjusted net debt to EBITDAR would have been 3.8. Additionally, this sale will generate a non-recurring, non-cash book loss in our second quarter 2018 results and will be disclosed on our earnings release. These aircraft have been parked since the first quarter of 2018 to be prepared for sale.
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