Azul Statement on the LATAM Codeshare and Potential Industry Consolidation

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May 24, 2021, 20:58 ET

SAO PAULO, May 24, 2021 /PRNewswire/ -- Azul, the largest airline in Brazil in terms of destinations and departures updates the market on its codeshare with LATAM and possible industry consolidation. Azul believes that consolidation is an important part of the post-pandemic industry response and the Company is in a strong position to drive that consolidation. The Company has hired advisors and is actively exploring industry consolidation opportunities in the region.

“The codeshare with LATAM was a unique solution in our pandemic response. We also realized that industry consolidation would be important for the post-pandemic recovery and Azul would be a key part of any such activity. At the end of the first quarter of 2021 we hired financial advisors and are actively exploring consolidation opportunities. We believe the cancelation of the codeshare by LATAM is a reaction to that process,” says John Rodgerson, CEO of Azul. “Azul is emerging from this crisis in a leadership position in terms of liquidity, network recovery and competitive advantages. Our plans are unchanged and I am confident that we are in the best position to pursue strategic alternatives at this point in time,” says Rodgerson.

Azul will keep the market update of any developments.

About Azul
Azul S.A. (B3: AZUL4, NYSE: AZUL), the largest airline in Brazil by number of flight departures and cities served, offers over 700 daily flights to more than 110 destinations. With an operating fleet of approximately 150 aircraft and more than 12,400 crewmembers. In 2020, Azul was awarded best airline in Latin America by TripAdvisor Travelers' Choice and also best regional carrier in South America for the ninth consecutive time by Skytrax. Additionally, in 2019, Azul ranked among the top ten most on–time low-cost carriers in the world, according to OAG. For more information visit www.voeazul.com.br/ir.

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SOURCE Azul S.A.