Azul expands losses and records a net loss of R$ 2.24 billion in the 3rd quarter

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A Blue registered a net loss of R$ 2.24 billion in the third quarter of the year, increasing the losses in relation to the same period of last year, when the result was negative by R$ 1.22 billion, informed the company in the balance sheet sent to the Commission of Mobile values ​​(CVM) this Thursday (11).

In the adjusted criterion, the airline reported a net loss of R$ 766.2 million. Cash generation measured by earnings before interest, taxes, depreciation and amortization (Ebitda) reached R$ 485.6 million in the third quarter, against R$ 198.3 million in the same period of 2020.

With that, the company ended the period with an Ebitda margin of 17.9%, down 6.7 percentage points in the annual comparison.

The company’s total net revenue reached BRL 2.71 billion from July to September, a significant increase compared to the BRL 805.3 million registered in the same period last year.

Passenger revenue reached BRL 2.4 billion in the third quarter, compared to BRL 624.5 million a year earlier.

On balance, the company claims that the increase in passenger revenue “shows the recovery in demand as vaccination advances in Brazil”.

Cargo revenue totaled R$317.6 million in the quarter, a performance related to “strong demand for our logistics solutions and our exclusive network”.

Reference: CNN Brasil

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