Azul reports record Q1 revenue after 40% increase

Azul’s first-quarter operating revenue hit a record RS$ 4.5bn (US$ 920 million) after a year-on-year increase of over 40%. The revenue surge could not prevent an adjusted net loss of over RS$ 727 million,  a 10% improvement on Q1 2022. The Brazilian airline’s earnings (EBITDA) came to R$1.03bn, for a margin of 23.0%, after a 73.8% increase compared to Q1 2022 and despite a 23.6% jumo in fuel prices. Operating income was R$462.4 million in the quarter,  a margin of 10.3%. The carrier ended the Q1 2023 period with liquidity of R$1.8bn, as “operational cash inflows” surpassed outflows by over