Azul Reports Record Second Quarter Results
Revenue increased 19.3% to R$1.7 billion year over year
Operating income was R$105 million, representing a margin of 6.1%

São Paulo, August 14th, 2017 - 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 second quarter of 2017 ("2Q17").

Financial and Operating Highlights for 2Q17

  • Operating income was R$104.9 million, representing a margin of 6.1% compared with R$1.3 million and a margin of 0.1% in 2Q16. This is a record second quarter operating result for Azul.
  • EBITDAR increased 41% to R$476.1 million, representing a margin of 27.6%.
  • Net loss totaled R$33.9 million, representing an improvement of R$86.2 million over 2Q16
  • Passenger traffic (RPKs) increased 21% over a capacity increase of 18% resulting in a higher load factor of 80.9%, 1.9 percentage points higher than in 2Q16.
  • In addition to the double-digit growth in capacity, total revenue per ASK (RASK) and passenger revenue per ASK (PRASK) increased 1.2% and 1.7% year over year totaling 28.93 cents and 24.92 cents, respectively.
  • Operating cost per ASK excluding fuel (CASK ex-fuel) decreased 8.1% while CASK decreased 4.9%, despite the 11.2% increase in fuel cost per liter.

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