Brazil’s Azul Reports Record Operating Revenue in Q2 2025
Brazil’s Azul Linhas Aéreas, which filed for Chapter 11 bankruptcy protection in the U.S. in May, posted a record operating revenue of R$ 4.9 billion between April and June 2025—an 18% increase compared to the same quarter in the previous year. This performance, the best second-quarter result in the company’s history, was driven primarily by strong passenger demand, higher ancillary revenue, and increased market share in international routes and strategic business units.
EBITDA (earnings before interest, taxes, depreciation, and amortization) grew by 9% year-over-year, reaching R$ 1.1 billion, with a 23% margin. Immediate liquidity closed the quarter at R$ 3.3 billion, reflecting an increase of R$ 945 million compared to the previous quarter.
Profitability and International Expansion
One of the most notable milestones was the net profit of R$ 1.29 billion, a stark contrast to the R$ 3.5 billion loss recorded in Q2 2024. The international market showed outstanding growth, with a 37% increase in capacity—including flight and seat offerings—compared to the same period last year.
Azul’s CEO, John Rodgerson, described this quarter as “one of the most pivotal in the company’s history,” emphasizing that the results reinforce its position amid the ongoing transformation process.
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Route Optimization and Operational Adjustments
As part of its efficiency strategy, Azul completed the closure of operations in 14 cities between February and March, along with the gradual elimination of approximately 50 routes. These changes were prompted by factors such as demand fluctuations, unfavorable exchange rates, high fuel prices, and costs stemming from the elevated level of litigation affecting Brazil’s aviation sector.
The redesigned network is tailored for peak travel seasons, with plans to add 3,600 extra flights and 520,000 additional seats across Brazil. For the first time, 45% of flights originally targeting corporate travelers will shift to leisure routes, with a focus on new operations from Congonhas Airport.
Strengthening Business Units
Azul’s complementary business units also contributed to the strong results:
- Azul Viagens: Gross bookings surged by over 45% compared to Q2 2024.
- Azul Cargo: Net revenue grew by 14.3%, with international expansion exceeding 50%.
- Azul Fidelidade: Ticket issuance rose by more than 8%, reaching record redemption levels.
With this performance, Azul solidifies its position as one of Brazil’s leading airlines, maintaining a focus on revenue diversification, international expansion, and operational optimization.
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