MANAGERIAL ACTION AS A RESULT OF THE IMPACT OF COVID - 19 30th September, 2020 I FOREWORD ........................................................................................................................ 9 II IDENTIFIED PATTERNS ......................................................................................................... 9 III COUNTRIES AND EUROPEAN INSTITUTIONS ............................................................................ 13 1. GENERAL .......................................................................................................................... 13 2. BRAZIL ............................................................................................................................ 14 3. CHINA ............................................................................................................................. 14 4. EUROPEAN CENTRAL BANK ..................................................................................................... 14 5. EUROPEAN STABILITY MECHANISM ............................................................................................ 14 6. EUROPEAN UNION ............................................................................................................... 15 7. FRANCE ............................................................................................................................ 15 8. GERMANY ......................................................................................................................... 16 9. ITALY .............................................................................................................................. 16 10. JAPAN .............................................................................................................................. 16 11. PORTUGAL......................................................................................................................... 16 12. RUSSIA ............................................................................................................................ 17 13. SPAIN .............................................................................................................................. 17 14. UNITED KINGDOM ............................................................................................................... 17 15. USA ............................................................................................................................... 17 IV BUSINESS BY SECTORS ....................................................................................................... 18 1. ACTIVISM ......................................................................................................................... 18 1.1. Elliot Management ................................................................................................. 18 2. AERONAUTICS .................................................................................................................... 19 2.1. International ......................................................................................................... 19 Airbus .................................................................................................... 19 Boeing ................................................................................................... 19 Embraer ................................................................................................. 19 Rolls-Royce ............................................................................................ 20 Safran ................................................................................................... 20 3. AGRICULTURE .................................................................................................................... 20 3.1. US ....................................................................................................................... 20 4. AIR TRANSPORT .................................................................................................................. 20 4.1. China ................................................................................................................... 20 4.2. International ......................................................................................................... 20 Air France/KLM ....................................................................................... 21 Alitalia ................................................................................................... 21 Cathay Pacific ......................................................................................... 21 Condor................................................................................................... 21 EasyJet .................................................................................................. 21 Finnair ................................................................................................... 21 IAG ....................................................................................................... 21 4.2.7.1. British Airways ........................................................................................ 22 4.2.7.2. Iberia .................................................................................................... 22 LATAM ................................................................................................... 22 LOT ....................................................................................................... 22 Lufthansa ............................................................................................... 22 Norwegian .............................................................................................. 24 Quantas ................................................................................................. 24 Ryanair .................................................................................................. 25 SAS ....................................................................................................... 25 Thai ....................................................................................................... 25 Virgin Atlantic ......................................................................................... 25 Virgin Australia ....................................................................................... 25 Wizz ...................................................................................................... 25 4.3. Portugal ................................................................................................................ 25 TAP * .................................................................................................... 25 2 4.4. US ....................................................................................................................... 26 American Airlines .................................................................................... 27 Delta ..................................................................................................... 27 United ................................................................................................... 27 5. AUDITING ......................................................................................................................... 27 5.1. International ......................................................................................................... 27 5.2. Portugal ................................................................................................................ 27 KPMG .................................................................................................... 27 6. BANKING .......................................................................................................................... 27 6.1. Europe.................................................................................................................. 27 Germany ................................................................................................ 28 6.1.1.1. Commerzbank ........................................................................................ 28 6.1.1.2. Deutsche Bank ........................................................................................ 28 Italy ...................................................................................................... 28 Portugal * .............................................................................................. 28 6.1.3.1. BCP * .................................................................................................... 29 6.1.3.2. BPI * ..................................................................................................... 29 6.1.3.3. Banco Montepio * .................................................................................... 29 6.1.3.4. Caixa Geral de Depósitos * ....................................................................... 29 6.1.3.5. EuroBic * ............................................................................................... 29 6.1.3.6. Novo Banco ............................................................................................ 29 Spain ..................................................................................................... 29 6.1.4.1. Banco Santander * .................................................................................. 29 6.1.4.2. Bankinter ..............................................................................................