Azul reports net loss despite record quarterly revenue

Brazilian airline Azul reported a record three-month operating revenue of R$4.5bn (US$ 860 million) for the fourth quarter of 2022 (Q4 2022), taking it to R$15.9bn revenue for the year. But the carrier recorded a R$610.5 million loss for the quarter, exceeding the pandemic-era loss reported Q4 2021, with the difference driven by higher fuel expenses, which were up over 50% year-on-year, and interest payments on leases Annual revenue was up 39.4% on 2019 and 59.9% compared to 2021, the Brazilian airline said, with passenger revenue, measured in available seat kilometres, also hitting record levels in Q4 2022 and yields