Airline Azul's Q3 hit by Brazil's weak currency

Azul reported a Q3 net loss of 438m reais, taking a hit from the depreciation of the Brazilian real, the company said Thursday. Azul, Brazil’s third biggest airline, is expanding rapidly and, like other airlines in the country, has felt the impact of currency fluctuations because much of their expenses — especially aircraft rent, airport fees and fuel — are denominated in US dollars. Azul said it lost 879m reais ($216.87m) during the quarter because of exchange rate losses, compared to a loss of 329m reais a year ago. The carrier updated its operating margin forecast to 18%, from a previous range between 18% and 20% for the year. Azul also reduced its forecast for growth in available seats to the bottom of its previous guidance range to 23% growth for domestic flights and 20% growth for international flights.<br/>