Azul posted a fourth-quarter net loss pressured by financial expenses, although the operating result beat analysts’ forecasts.
The company’s net loss was R$945.7 million in the fourth quarter, reversing a profit of R$543.4 million in the same period of the previous year.
In adjusted terms, the net loss dropped 52.5% from October to December over a year earlier, to R$436 million.
The average expectation of analysts who follow the company was a loss of R$ 397.8 million in the period, according to data from Refinitiv.
Operating income measured by earnings before interest, taxes, depreciation and amortization (Ebitda) grew 432.5% compared to the fourth quarter of the previous year, to R$1.027 billion, above the market consensus of R$763.5 million.
Net revenue totaled R$3.73 billion in the quarter, an increase of 109.1% compared to the same period in 2020, with an increase in passenger revenue, driven by the removal of restrictions related to the pandemic, and cargo.
Source: CNN Brasil
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