Azul S.A. (B3:AZUL4) (NYSE:AZUL), the largest airline in Brazil by number of cities served, has announced its results for the first quarter of 2018 (“1Q18”), the company said.
Financial and operating highlights include:
Operating income was BRL 275.9 million, representing a margin of 12.5% compared with BRL 209.2 million and a margin of 11.1% in 1Q17. This is a record first quarter operating result for Azul.
EBITDAR increased 20.8% to BRL 684.2 million, representing a margin of 30.9%.
Net income totaled BRL 210.5 million compared to BRL 58.4 million in 1Q17 representing an increase of BRL 152.2 million.
Passenger revenue per ASK (PRASK) increased 5.1% year over year or 12.5% stage-length adjusted.
Passenger traffic (RPKs) increased 13.4% over a capacity increase of 12.2% resulting in a higher load factor of 82.2% compared to a load factor of 81.4% in 1Q17.
Azul offers 739 daily flights to 106 destinations. With an operating fleet of 120 aircraft and more than 10,000 crew members, the company has a network of 206 non-stop routes as of March 31, 2018. For more information visit www.voeazul.com.br/ir.