Azul S.A. beats by BRL 0.18, misses on revs
- Reports Q1 (Mar) earnings of BRL 0.63 per share, BRL 0.18 better than the Capital IQ Consensus of BRL 0.45; revenues rose 17.8% year/year to BRL 2.21 bln vs the BRL 2.24 bln Capital IQ Consensus.
- Passenger revenue per ASK (PRASK) increased 5.1% year over year or 12.5% stage-length adjusted.
- Passenger traffic (RPKs) increased 13.4% over a capacity increase of 12.2% resulting in a higher load factor of 82.2% compared to a load factor of 81.4% in 1Q17.
- Operating cost per ASK excluding fuel (CASK ex-fuel) increased 0.7% while total CASK increased 3.4% despite the 21% increase in oil prices (WTI) and the 3.2% depreciation of the Brazilian real year over year.