Azul S.A., “Azul” (B3:AZUL4) (NYSE:AZUL) the largest airline in Brazil by number of cities and departures, announces today its results for the third quarter of 2017 (“3Q17”). The following financial information, unless stated otherwise, is presented in Brazilian reais and in accordance with International Financial Reporting Standards (IFRS).
Financial and Operating Highlights for 3Q17
Operating income was R$249.3 million, representing a margin of 12.5% compared to R$166.0 million and a margin of 9.6% in 3Q16. This is a record third quarter operating result for Azul.
EBITDAR increased 20% to R$634.0 million, representing a margin of 31.7%, making us the most profitable carrier in South America.
Net income totaled R$204.0 million, representing an improvement of R$194.6 million over 3Q16…