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Home»Finance»Brazilian airline Azul’s core earnings up 33% in Q4
Finance

Brazilian airline Azul’s core earnings up 33% in Q4

February 24, 2025No Comments2 Mins Read
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Brazilian airline Azul's core earnings up 33% in Q4
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SAO PAULO (Reuters) – Brazilian airline Azul on Monday reported fourth-quarter core earnings barely above market expectations and mentioned it was optimistic about this 12 months, after a difficult 2024 marked by a serious debt restructuring.

The service’s earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) reached 1.95 billion reais ($340.31 million) within the October-December interval, it mentioned, up 33% year-on-year, helped by larger passenger visitors and cargo issue.

Analysts polled by LSEG anticipated EBITDA to return in at 1.91 billion reais within the quarter.

“The mixture of a weakening Brazilian actual, the floods in Rio Grande do Sul state, important OEM (authentic gear producers) and provide chain points, and higher-than-expected gas costs made for a really difficult 12 months,” CEO John Rodgerson mentioned in an announcement.

Full-year EBITDA reached 6.07 billion reais, according to Azul’s beforehand launched outlook of greater than 6 billion reais.

Internet income rose 10.2% within the fourth quarter to five.54 billion reais, whereas analysts anticipated 5.62 billion reais.

Azul just lately concluded a serious restructuring that included the termination of just about $1.6 billion in debt from its stability sheet, whereas it additionally raised $525 million in recent cash.

The corporate is now eyeing a possible enterprise mixture with rival Gol that will create a dominant service in Latin America’s No. 1 financial system, holding roughly 60% of the home market.

(Reporting by Gabriel Araujo, Modifying by Louise Heavens and David Evans)

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