Azul SA, “Azul” (B3:AZUL4, NYSE:AZUL), announced today its results for the third quarter of 2024 (“3Q24”).
The airline had a net profit of R$360,3 million in the third quarter of 2024, which reverses the net loss recorded in the same period last year, of R$1,279 billion.
The adjusted net loss of R$203 million in the third quarter of 2024, 76,3% lower than the loss of R$855,9 million recorded in the same period last year
The financial information presented below, except where indicated, is in reais and in accordance with IFRS (International Financial Reporting Standards) ing standards.
Financial and Operational Highlights
- EBITDA reached an all-time high of R$1.653,3 million, with a margin of 32,2%, increasing 6,0% year-over-year and 57,1% quarter-over-quarter.
- Operating profit increased 6,7% year-over-year, reaching a record R$1.027,2 million, with a margin of 20,0%. Compared to 2Q24, operating profit increased 132,8%.
- Operating revenue reached an all-time high of R$5,1 billion, increasing 4,3% year-over-year and 22,9% quarter-over-quarter.
- enger traffic (RPK) grew 4,3% against a capacity growth of 3,7%, resulting in a load factor of 82,6%, 0,5 percentage points higher than in 3Q23.
- CASK in 3Q24 was R$34,28 cents, stable compared to 3Q23, despite the average depreciation of the real against the US dollar of 13,6%, with fuel prices 8,6% higher and inflation of 4,2% in the last 12 months, as a result of cost reduction and productivity initiatives, in addition to the greater use of state-of-the-art aircraft.
- Fuel consumption per ASK decreased 2,9% in 3Q24 compared to 3Q23, as a result of the greater utilization of latest generation aircraft in our fleet.
- Immediate liquidity was R$2,5 billion, stable compared to 2Q24, representing 13,1% of last twelve months' revenue. In the quarter, we continued our deleveraging process with the payment of R$1,4 billion in current and deferred leases and debt amortization, with approximately R$700 million of cash generated by operating activities.
To access the Results Release, click here.
