Revenues rose 2.3% year-on-year to 13.98 billion Brazilian reals (US$2.42 billion).
Brazilian airline Azul has cut its losses by 40.9% in the first nine months of the year compared to the same period last year, bringing its losses to 1.271 billion Brazilian reals (US$ 220 million), the company reported on Thursday.
Revenues rose 2.3% year-on-year to 13.98 billion Brazilian reals (US$2.42 billion). In passenger transport, which accounts for 92% of its revenue, Azul achieved revenues of 12.978 billion Brazilian reals (US$2.248 billion), 2.2% higher than the previous year.
Costs, meanwhile, remained virtually stable, with a slight year-on-year increase of 0.6% to R$11.711 billion (US$2.028 billion).
For its part, the airline has invoiced more than 1,001 million Brazilian reals (US$ 173.4 million) in freight transport until September, 3.7% more than in the same period of fiscal year 2023.
Gross operating profit (EBITDA) was 4.121 billion Brazilian reals (US$ 713 million), 10% higher than in the first three quarters of the previous year. The EBITDA margin grew by 2.1 percentage points to 29.5%.
Operating income reached BRL 2.269 billion (US$ 393 million), representing a year-on-year increase of 12.5%.
In the third quarter, Azul reduced its losses by 76.3% year-on-year, to a loss of 203 million Brazilian reals (US$ 35.1 million). Revenue increased by 4.3% and Ebitda by 6%.
UPDATED OUTLOOK FOR 2025
Looking ahead to the end of the year, Azul has maintained its growth projections. Thus, it expects to increase its operating capacity by approximately 6% compared to 2023 and achieve an EBITDA of R$6 billion (US$1,039 million).
This figure will be the result of the robust demand environment in the domestic and international markets, as the airline has increased, as well as the positive trend in fuel prices and a greater number of fuel-efficient aircraft entering Azul's fleet.
The company also shared its EBITDA projections for 2025 on Thursday, when it expects to reach 7.4 billion Brazilian reals (US$ 1.281 billion). This increase will be mainly due to strong travel demand, as it expects robust growth in all its business units.
"The structured financing plan, focused on improving liquidity and cash generation, and reducing leverage, will allow Azul to achieve the results mentioned in the forward-looking outlook for 2025," the airline said.
