In addition to your financial results, Azul SA announced today (06) its projections for cargo revenue and immediate liquidity in December 2021 and EBITDA for 2022.
In its statement to investors, Azul said it remains confident of the market's recovery in the coming months, despite the challenges of the pandemic.
All data reported below are the company's own preliminary estimates, and exclude non-recurring events and additional impacts of the pandemic.
Check out Blue's statement below:
1) Azul expects to double Azul Cargo's revenue in the year 2021 compared to 2019, totaling approximately R$1,0 billion in revenue.
Azul Cargo has been growing rapidly, leveraging our competitive advantages such as the largest network in Brazil, the most flexible fleet and the best punctuality. Azul offers a wide and unique range of logistical services, with short delivery times at competitive prices.
Thus, we expect to double our cargo revenue in 2021 compared to 2019, mainly due to the growth of e-commerce in Brazil.
2) Azul estimates to end 2021 with immediate liquidity, including cash and cash equivalents, short-term investments and receivables of at least R$3,0 billion.
Azul was the only airline in the Americas to increase its cash in 2020 before raising capital, thanks to its efficient cost management and payment deferrals negotiated with lessors, suppliers and banks. We have also proven our access to capital markets at competitive rates even in times of volatility.
We are confident that, as demand recovers, we will generate more cash and use our strong liquidity to deleverage through payments to our stakeholders and investments in the future.
These assumptions should allow us to end the year with at least R$3,0 billion in immediate liquidity, maintaining our leadership to take advantage of the recovery in demand.
3) We estimate to calculate EBITDA in 2022 above the EBITDA calculated in 2019 (R$3,6 billion). In 2020, Brazil had one of the fastest demand recoveries in the world.
While the country has been impacted by a second wave of the pandemic, vaccination is accelerating and we believe this will have the same positive effect that we see in other countries ahead in their vaccination efforts. We believe that with this we will start 2022 with our operation fully recovered.
Combined with Azul Cargo's revenue growth, our cost reduction initiatives and a rational competitive environment, we expect to generate EBITDA of approximately R$4 billion in 2022 compared to R$3,6 billion in 2019.
These preliminary estimates exclude non-recurring events and additional impacts from the pandemic.
