Azul Reports Third Quarter Results

SÃO PAULO, Nov. 7, 2019 /PRNewswire/ -- Azul S.A., "Azul" (B3:AZUL4, NYSE:AZUL), the largest airline in Brazil by number of cities and departures, announces today its results for the third quarter of 2019 ("3Q19"). The following financial information, unless stated otherwise, is presented in Brazilian reais and in accordance with International Financial Reporting Standards (IFRS).

Financial and Operating Highlights for 3Q19

  • Net revenue reached a record R$3.0 billion, up 25.5% year over year.
  • Operating income increased 31.4% to R$559.3 million, representing a margin of 18.5%.
  • EBITDA rose 24% to R$935.8 million, representing a margin of 30.9%.
  • Net income excluding the non-cash impact of foreign currency fluctuation totaled R$441.4 million, 56.7% higher than in 3Q18.
  • Passenger traffic (RPK) increased 27.1% over a capacity increase of 26.1%, resulting in a load factor of 84.3%, 0.6 percentage points higher than in 3Q18.
  • RASK increased 1.7% in 3Q19 on a stage-length adjusted basis.
  • Total CASK decreased 1.5%. Excluding the impact of the end of the payroll tax relief, CASK would have decreased 4.0%.
  • Total liquidity position was R$4.4 billion, up R$249.6 million, representing 41% of last twelve months' revenue. Azul also generated R$187 million in free cash flow during the quarter.

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Conference Call Details

Thursday, November 7th, 2019
1:00 p.m. (EST) | 3:00 p.m. (Brasília time)
USA: +1 412 717-9627
Brazil: +55 11 3181-8565 or +55 11 4210-1803
Verbal Code: Azul  
+55 11 3193-1012 or +55 11 2820-4012
Code: 8622178#

About Azul

Azul S.A. (B3: AZUL4, NYSE: AZUL), the largest airline in Brazil by number of flight departures and cities served, offers 910 daily flights to 114 destinations. With an operating fleet of 133 aircraft and more than 12,000 crewmembers, the Company has a network of 237 non-stop routes as of September 30, 2019. In 2019, Azul was awarded best airline in Latin America by TripAdvisor Travelers' Choice and also best regional carrier in South America for the ninth consecutive time by Skytrax. In 2018, the Company was elected best airline by Kayak's Flight Hacker Guide. Azul also ranked as most on-time airline in Brazil in 2018 according to FlightStats. For more information visit


Andrea Bottcher,
Investor Relations
Tel: +55 11 4831 2880

Media Relations
Tel: +55 11 4831 1245

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