Azul posts record Q1 revenue amid a ‘robust, sustained revenue’ recovery
Brazil’s Azul sees “robust, sustained revenue performance” for the rest of the year with passengers travelling in greater numbers as the global Covid-19 pandemic is largely in the rear-view mirror. The Sao Paulo-based airline said on 15 May that its operating revenue reached “an all-time record” of R$4.48b ($910m) during the first three months of 2023, as travel demand remained high. That is about 40% higher than in Q1 2022. Still, expenses weighed on the company, coming in at R$4.02b – including R$1.67b for fuel, up 41% from last year. All told, including financial expenses, the company posted a Q1 loss of R$322m. “Demand in the international markets continues very strong, highlighted by our new Paris service, which debuted on 26 April,” CE John Rodgerson says. “Together with our recently doubled presence at [Sao Paulo’s] Congonhas airport, our product offering has never been more relevant, allowing us to showcase to new customers our superior product, broad network, award-winning loyalty program and unique travel and logistics offerings.” Azul currently has 158 destinations in its network, the company says. Capacity as measured in ASKs rose 19% to 10.8b, the company says. During the full year of 2023, the carrier expects to increase capacity by about 14% compared to 2022. Azul sees the domestic market growing at about 6%, with chief revenue officer Abhi Shah saying that growth will be “very disciplined overall”. Internationally, the company expects to maintain the network it is currently flying. “I don’t see any major new markets or destinations for the rest of the year,” Shah says. The airline is relying on partners like United Airlines and JetBlue Airways in North America and TAP Portugal in Europe to help increase its footprint those regions. “Together with United and JetBlue, we have been slowly expanding our network into the United Sates,” Shah says. “Via our gateways in Orlando and Fort Lauderdale, we can connect to 27 cities in the US and eight in the Caribbean.”<br/>
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Azul posts record Q1 revenue amid a ‘robust, sustained revenue’ recovery
Brazil’s Azul sees “robust, sustained revenue performance” for the rest of the year with passengers travelling in greater numbers as the global Covid-19 pandemic is largely in the rear-view mirror. The Sao Paulo-based airline said on 15 May that its operating revenue reached “an all-time record” of R$4.48b ($910m) during the first three months of 2023, as travel demand remained high. That is about 40% higher than in Q1 2022. Still, expenses weighed on the company, coming in at R$4.02b – including R$1.67b for fuel, up 41% from last year. All told, including financial expenses, the company posted a Q1 loss of R$322m. “Demand in the international markets continues very strong, highlighted by our new Paris service, which debuted on 26 April,” CE John Rodgerson says. “Together with our recently doubled presence at [Sao Paulo’s] Congonhas airport, our product offering has never been more relevant, allowing us to showcase to new customers our superior product, broad network, award-winning loyalty program and unique travel and logistics offerings.” Azul currently has 158 destinations in its network, the company says. Capacity as measured in ASKs rose 19% to 10.8b, the company says. During the full year of 2023, the carrier expects to increase capacity by about 14% compared to 2022. Azul sees the domestic market growing at about 6%, with chief revenue officer Abhi Shah saying that growth will be “very disciplined overall”. Internationally, the company expects to maintain the network it is currently flying. “I don’t see any major new markets or destinations for the rest of the year,” Shah says. The airline is relying on partners like United Airlines and JetBlue Airways in North America and TAP Portugal in Europe to help increase its footprint those regions. “Together with United and JetBlue, we have been slowly expanding our network into the United Sates,” Shah says. “Via our gateways in Orlando and Fort Lauderdale, we can connect to 27 cities in the US and eight in the Caribbean.”<br/>
