Quarterly ResultMay 7, 2026, 11:11 AM
Azul 1Q26 EBITDA R$1.7B (+22.6%); Revenue R$5.5B (+1.4%)
AI Summary
Azul S.A. reported strong first-quarter 2026 results, with EBITDA reaching a record R$1.7 billion, a 22.6% increase year-over-year, and operating revenue growing 1.4% to R$5.5 billion. The company achieved record RASK and PRASK, while CASK decreased by 5.7% due to structural cost initiatives and lower fuel prices. Azul significantly strengthened its financial position, reducing total debt by R$14.0 billion and improving its leverage ratio to 2.4x following a successful financial restructuring. The company also generated R$216.9 million in recurring free cash flow.
Key Highlights
- EBITDA reached a record R$1,699.4 million in 1Q26, increasing 22.6% year-over-year.
- Total operating revenue was a record R$5,471.4 million, up 1.4% year-over-year.
- Operating income increased 83.1% year-over-year to R$1,045.0 million.
- CASK decreased 5.7% to R$35.55 cents, driven by restructuring and 10.7% lower fuel prices.
- Total debt decreased R$14.0 billion year-over-year to R$20.6 billion.
- Leverage ratio (net debt to EBITDA) improved to 2.4x, down 3.1 turns year-over-year.
- Generated R$216.9 million in recurring free cash flow in 1Q26.
- Immediate liquidity stood at R$4.7 billion, up 98.6% from 1Q25.