According to the company's statement on Monday, sales have remained stable, with a year-on-year growth of 1.2%, reaching a turnover of 8.851 billion Brazilian reals (US$ 1.607 billion).
Brazilian airline Azul posted losses of R$4.984 billion (US$905 million) in the first half of the year, compared to profits of R$175.7 million (US$31.9 million) in the same period last year.
According to the company's statement on Monday, sales have remained stable, with a year-on-year growth of 1.2%, reaching a turnover of 8.851 billion Brazilian reals (US$ 1.607 billion).
Revenue from passenger transport, which represents more than 92% of Azul's total turnover, increased by 1.2% compared to the first half of 2023, while revenue from freight transport was 0.9% higher year-on-year.
Gross operating profit (EBITDA) rose 12.8% compared to the first six months of the previous year, to R$2.467 billion (US$447 million). The EBITDA margin rose 2.9 percentage points to 27.9%.
Operating income was 1.241 billion Brazilian reals (US$ 225.3 million), 17.8% more than in the same period of the previous year.
In the second quarter, Azul recorded losses of R$3.865 billion (US$701 million), compared to a loss of R$497.9 million (US$90.4 million) in the same quarter of the previous year.
The company said the floods in Rio Grande do Sul last May had a negative impact on its results, as did the rapid devaluation of the Brazilian real.
Revenues were also affected by a temporary reduction in its international capacity, which fell by 8% year-on-year. In this context, the company has revised down its annual projections, and now expects a capacity of 7%, compared to the 11% it had previously estimated.
As a result of this worsening of expectations, EBITDA will be above 6 billion reais (US$ 1.089 billion) at the end of the year. Previously, it was expected to reach 6.5 billion reais (US$ 1.18 billion).
Azul CEO John Rodgerson has expressed optimism for the future as we enter the seasonally strong spring and summer periods in Brazil, with additional next-generation aircraft entering our fleet.
"Bookings have improved over the past four weeks and we expect this trend to accelerate," he said.
