Azul reports its Q1 2019 financial results

Brazilian carrier Azul has reported its operating income was R$335.6 million (approximately $84.8 million) in its first quarter 2019 results, representing a margin of 13.2%, even with the 16.3% devaluation of the Brazilian real and the end of the 20% payroll tax relief program. The group’s net income for the first three months of 2019 totalled R$137.7 million compared to a net income of R$172.3 million in 2018. On a stage-length adjusted basis, RASK increased 1.8% in Q1 2019, while at the same time capacity increased 16.0% Meanwhile, CASK increased 4.6% mostly due to the 16.3% depreciation of the Brazilian