Azul Announces Second Quarter Liquidity Position and Cash Burn Guidance

Azul S.A., "Azul" (B3: AZUL4, NYSE: AZUL), announces today that as of June 30th, 2020, its preliminary liquidity position, including cash and cash equivalents, short-term investments, and accounts receivables, totaled R$2.3 billion compared to R$2.2 billion on March 31st and to a previous forecast of R$ 2.0 billion. Azul had originally forecasted a daily cash burn between R$3 million and R$4 million in May and June, but was actually able to increase its cash position in the same period.