Brazil's Azul sees EBITDA at record level in 2022, further up in 2023 & More News Here

People queue at Brazil’s airline Azul check-in at Viracopos airport in Campinas, Brazil, April 11, 2017. REUTERS/Paulo Whitaker

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SAO PAULO, May 9 (Reuters) – Brazilian airline Azul SA stated on Monday it expects its earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) to achieve a record of about 4 billion reais ($787.42 million) in 2022 and proceed to develop subsequent yr.

Available seat kilometers (ASK) are anticipated to develop 10% in 2022 from pre-pandemic 2019 ranges, Azul stated in a securities submitting, whereas income per obtainable seat-kilometer (RASK) is ready to rise greater than 20% when put next with 2019 ranges.

“We have seen nine straight months of strong and growing leisure demand, while corporate demand accelerated rapidly,” Azul stated, including that it has additionally ended the primary quarter with costs at record ranges in each segments.

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The firm has projected its EBITDA at about 5.5 billion reais in 2023.

Azul added that it expects to start out decreasing its leverage measured by the online debt/EBITDA ratio, which is seen reaching 5 at the top of this yr earlier than falling to 4 in 2023 and three in 2024.

The projections got here as Azul on Monday reported a first- quarter web revenue of two.66 billion reais, up from a 2.65 billion-real web loss seen a yr in the past, pushed primarily by foreign money positive factors.

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The airline posted an adjusted web lack of 808.4 million reais in the quarter when such overseas trade positive factors aren’t thought-about, versus a 1.07 billion-real adjusted web loss seen in the identical interval of 2021.

Azul stated its quarterly web income got here in above pre-pandemic ranges for the second quarter in a row, up 74.9% to three.2 billion reais.

The firm expects to achieve a record quarterly working income in the second quarter, in addition to an all-time excessive RASK, even contemplating that such interval is seasonally weaker, it stated.

($1 = 5.0799 reais)

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Reporting by Gabriel Araujo; Editing by Toby Chopra, Louise Heavens and Andrea Ricci

Our Standards: The Thomson Reuters Trust Principles.

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