Media ININ Economy We Trust
Media IN/Abu-dhabi/ 12 May 2019
AZUL is one of the largest airline in Brazil by number of flights and cities served. It announced its results for the first quarter of 2019.
While presenting the report, one of the officials said that the financial information, is presented in Brazilian reais and in accordance with International Financial Reporting Standards (IFRS), including the recently adopted IFRS 16 standard.
- Operating income was R$335.6 million in Q1 2019, representing a margin of 13.2%, even with the 16.3% devaluation of the Brazilian real and the end of the 20% payroll tax relief program.
- Net income totaled R$137.7 million compared to a net income of R$172.3 million in Q1 2018.
- RASK( Revenue Per Available Seat-kilometer) increased 1.8% in Q1 2019 on a stage-length adjusted basis, while at the same time capacity increased 16.0%.
- CASK(Cost per Available Seat – kilometer) increased 4.6% mostly due to the 16.3% depreciation of the Brazilian real and the end of the 20% payroll tax relief in Q1 2019. CASK decreased 2.4% controlling for fuel, currency and the payroll tax.
- At the end of Q1 2019, total liquidity position was R$4.0 billion, representing 42.4% of the last twelve months’ revenues.
- Azul’s operating fleet totaled 125 aircraft at the end of the quarter, including 24 next-generation A320neo aircraft, which represented 34% of total capacity.
- TudoAzul ended the quarter with more than 11 million members and recorded a 31% year-over-year increase in gross billings ex-Azul.
- Azul Cargo recorded a 41% growth in revenue in Q1 2019 compared to Q1 2018.
- Azul was elected one of the top 10 airlines in the world and received a record of six awards in the 2019
The awards included TripAdvisor Travelers’ Choice Awards, Best Airline in Brazil, Best Airline in Latin America, Best Low Cost Airline in Latin America, Best Economy class in Latin America and Best Business Class in Latin America.
