The following is a summary of the Azul S.A. (AZUL) Q1 2024 Earnings Call Transcript:
Financial Performance:
Azul's Q1 2024 operating revenue increased 4.5% to R$4.7 billion, driven by a healthy demand environment, robust ancillary revenues and growth in business units.
EBITDA reached R$1.4 billion, a record for the first quarter, and increased by 37.4% compared to Q1 2023. The EBITDA margin of 30.3% was also a record.
Gross billings of the loyalty program increased by 31% compared to Q1 2023, and the vacations business saw an increase in gross billings by 75% year-over-year.
Business Progress:
Azul managed to raise over 1,300 tons of supplies and donations alongside Itau Bank to help Rio Grande do Sul during a severe flooding crisis.
The company is transitioning its fleet, with the process expected to be fully complete by the end of August 2024.
The company is expecting increased aircraft utilization and capacity growth due to upgrading from E1 to E2 and A320 aircrafts.
More details: Azul SA IR
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