{"id":137278,"date":"2023-03-06T19:00:00","date_gmt":"2023-03-06T19:00:00","guid":{"rendered":"https:\/?p=137278"},"modified":"2023-03-07T22:03:24","modified_gmt":"2023-03-07T22:03:24","slug":"brazils-azul-posts-higher-net-loss-in-fourth-quarter","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2023\/03\/brazils-azul-posts-higher-net-loss-in-fourth-quarter.html","title":{"rendered":"Brazil’s Azul posts higher net loss in fourth quarter"},"content":{"rendered":"\n

Brazilian airline Azul <\/strong>reported Monday that its fourth-quarter adjusted net loss deepened on a year-over-year basis, but expects clearer skies ahead thanks to a new agreement with aircraft lessors to reduce payments.<\/p>\n\n\n\n

Azul said in a securities filing that the agreement should allow it to be cash flow positive starting in 2024, while projecting an “appreciable reduction” in capital expenditures over that period.<\/p>\n\n\n\n

The airline had disclosed the deal late Sunday, saying lessors responsible for 90% of its obligations had agreed to receive equity and marketable debt in exchange for lower payments.<\/p>\n\n\n\n

\u2192 Brazil\u2019s AZUL was the world\u2019s most punctual airline in 2022<\/a><\/em><\/strong><\/p>\n\n\n\n

“We are encouraged by the strong demand environment and important milestones in our route network” in 2023, CEO John Rodgerson said in a statement, noting that the carrier has added routes to Paris and Curacao and is poised to increase flights to the United States.<\/p>\n\n\n\n

Azul expects to generate record revenue of 20 billion reais ($3.84 billion) this year and earnings before interest, taxes, depreciation and amortization (EBITDA) of more than 5 billion reais, about 40% above pre-pandemic 2019 levels, Rodgerson said.<\/p>\n\n\n\n

In the fourth quarter, the company posted an adjusted net loss of R$610.5 million, deeper than the R$436 million loss posted a year earlier and also higher than the R$562.81 million forecast by analysts polled by Refinitiv.<\/p>\n\n\n\n

Total operating income rose 19.4% in the period to R$4.45 billion, slightly below analysts’ forecasts, while EBITDA came in around expectations at R$1.1 billion, up 6.9%, Reuters reported.<\/p>\n\n\n\n

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