May 14, 2020 / 12:30 PM / 15 days ago

Brazil's Azul posts $1 billion loss on currency devaluation in Q1

SAO PAULO, May 14 (Reuters) - Brazil’s No. 3 airline Azul SA on Thursday posted a loss of 6.14 billion reais ($1.04 billion) in the first quarter, heavily affected by the depreciation of the country’s currency.

Like other airlines around the world, Azul is reeling from the effects of the coronavirus and says 78% of its employees are taking unpaid leave. ($1 = 5.9188 reais) (Reporting by Marcelo Rochabrun)

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