Brazilian airlines will have a longer period to reimburse cash for tickets

The measures announced by the federal government to minimize the impact of the new coronavirus pandemic on Brazilian commercial aviation are positive, evaluates the president of the Brazilian Association of Airlines (ABEAR). Among the emergency measures announced are a longer period for airlines to reimburse cash for tickets, the postponement of airport fares and airport grants.

Source: Agencia Estado

Brazilian Central Bank cut interest rate by 0.50

The Central Bank’s Copom (Monetary Policy Committee) at the basic interest rate (Selic) at 0.50 percentage point, from 4.25% to 3.75% per year. It is the lowest level since the beginning of the historical series, in 1996. The decision was unanimous. The Central Bank explains that the current situation calls for caution in the conduct of monetary policy and, therefore, sees the new Selic reduction as “adequate”. This was the sixth consecutive cut, the second announced this year, and comes amid concerns about the effects of coronavirus worldwide.

Source: UOL Economia

Coronavirus: companies may cut hours and wages by half

In addition to allowing the payment of taxes and contributions to be postponed, the government wants to allow companies affected by the coronavirus crisis to temporarily cut half the workday and workers’ wages. According to the Ministry of Economy, the measure is important to avoid layoffs and job losses caused by the fall in economic activity. The negotiation will be individual.

Source: Agencia Brasil