Brazil's Azul has revealed its third-quarter 2019 financial results with the airline stating that its net revenues have reached a record R$3 billion, up 25.5% year over year.
The airline's operating income increased by 31.4% to R$559.3 million, representing a margin of 18.5%.
Meanwhile, EBITDA rose 24% to R$935.8 million, representing a margin of 30.9%.
Net income excluding the non-cash impact of foreign currency fluctuation totaled R$441.4 million, 56.7% higher than in 3Q18.
Passenger traffic (RPK) increased 27.1% over a capacity increase of 26.1%, resulting in a load factor of 84.3%, 0.6 percentage points higher than in 3Q18.
RASK increased 1.7% in 3Q19 on a stage-length adjusted basis.
Total CASK decreased 1.5%. Excluding the impact of the end of the payroll tax relief, CASK would have decreased 4.0%.
Total liquidity position was R$4.4 billion, up R$249.6 million, representing 41% of last twelve months' revenue. Azul also generated R$187 million in free cash flow during the quarter.