March 24, 2020 / 12:34 PM / in 12 days

Brazil's Azul looks for new credit line, half of its crew on unpaid leave-filing

SAO PAULO, March 24 (Reuters) - Brazilian airline Azul said it is in talks with banks over a new credit line, as the company reduces its capacity by 90% between March 25 and April 30, according to a securities filing on Tuesday.

The company said around 7,500 employees, more than half of its crew, have agreed to its unpaid leave program and that top management will take a 50% pay cut and managers, a 25% cut. (Reporting by Tatiana Bautzer, editing by Louise Heavens)

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