Azul Clarifies Newspaper Report re Avianca Brasil

São Paulo, December 14th, 2018 – In response to the Valor Economico article published today entitled “Azul studies to make a Bid for Avianca Brasil”, Azul clarifies that its Chairman and founder David Neeleman made a comment referencing the company’s fiduciary duty to evaluate potential market opportunities. The company is currently not engaged in any negotiations to make a bid for Avianca Brasil.