Despite this increase in losses, its shares woke up this Monday with a boost of 2.3% compared to Friday's trading session.

The Brazilian airline Azul has closed the first quarter of the year with losses worth US$ 216.7 million, which represents more than tripling the US$ 62 million that the company recorded as 'red numbers' in the same period of the previous year. .

Despite this increase in losses, Azul's shares woke up this Monday with a 2.3% boost compared to Friday's trading session, trading at US$2.1.

As reported, sales have grown by 4.5% year-on-year, reaching a turnover of US$906.7 million. For its passenger transport operations, which represent 93% of its total income, the airline billed 4.5% more.

For its part, Azul has managed to cut its operating expenses by 3.4% year-on-year, up to US$ 751.5 million. The largest allocation has been allocated to fuels, although the figure has been 19.1% lower in year-on-year terms.

Meanwhile, the gross operating result (Ebitda) has been US$ 274 million. This figure exceeds that achieved by the company in the first quarter of 2023 by 37.4%. The Ebitda margin was 30.3% (7.2 percentage points more).

Meanwhile, the operating result has been US$ 155 million, which represents more than quadrupling the US$ 89.5 million operating profit of the first three months of the previous year.

Azul's CEO, John Rodgerson, has highlighted that the first quarter has once again been "record", while predicting that the airline will generate a "significant" expansion of margins in the second half of 2024.