Brazilian airlines have net loss of R$ 5.7 billion in the 3rd quarter

The results of the main Brazilian airlines (Gol, Latam and Azul) continued to suffer impacts from the pandemic Covid-19 in the third quarter of 2021, with the maintenance of a reduced supply of flights, with a still reduced revenue and financial expenses higher than those observed in the period before the pandemic. Together, the companies had a net loss of R$5.7 billion in the period, with a net margin of -78.4%. Although the supply of these companies was 132% higher compared to the same period in 2020, it was still 19.8% lower than in 2019, when there was no crisis scenario in global aviation.

In this period, there was an increase in the indicators related to the most significant costs of the industry: the price of fuel, which increased 56.6% on the quarterly average, and the exchange rate, which was 2.8% higher than in Q3 2020.

Air service revenues increased 179.7% from Q3 2020, while operating costs and expenses increased 60.6%. Ticket revenue increased 221% and accounted for 82.3% of total air service revenue. Cargo and Luggage revenues, meanwhile, increased 12% and accounted for 8.1% of the total. Among costs and expenses, the highest cost in the sector was fuel and lubricants (25.1%), followed by insurance, leases, and maintenance (16.8%) and operating expenses (16.8%).

The complete information is available in the Data and Statistics section of the ANAC portal (available only in Portuguese).

Methodology Financial Statements

In compliance with Resolution No. 342/2014, Brazilian public air transport companies with relevant market share must submit their financial statements to ANAC. Quarterly financial statements must be submitted by companies with a share equal to or greater than 1% in terms of domestic or international paid passenger kilometers (RPK). The annual financial statements must be submitted by companies with a participation equal to or greater than 1% of the domestic or international RPK or ton kilometers paid kilometers transported (RTK).

ANAC Communications Office