Notícias
DATA
Brazilian airlines show profit in the second quarter
The three largest Brazilian airlines (Gol, Azul and Latam) obtained a positive net result of R$ 899.5 million, with a net margin of 22%, in the 2nd quarter of 2021. In the same period of the previous year, the result was R$ -6.1 billion and net margin of -399.6%. In the context of the 2nd quarter of 2021, the airline industry remained marked by the Covid-19 pandemic, with companies still seeking to financially equalize their operations.
According to the National Civil Aviation Agency (ANAC) Statistical Data, companies more than tripled their supply (ASK) in Q2 2021 compared to the same period a year earlier. However, compared to 2019, supply was down 43.4% in the 2nd quarter.
In Q2 2021, dollar remained relatively stable, down 1.7% from Q2 2020. The price of fuel (QAV), however, increased 91.7% on the quarterly average.
The air service revenues of the Brazilian companies had an increase of 177.9% in Q2 2021 when compared to the same period of the previous year. Operating costs and expenses increased by 2.8%. Ticket revenue increased 804.5% and represented 76% of the total air service revenue. Cargo and Luggage revenues, in turn, increased 22.5% and represented 14.4% of the total. Among the costs and expenses, the highest cost in the sector was with insurance, leases, and aircraft maintenance (22.4%), followed by fuel and lubricants (22.6%) and personnel (18.8%).
The positive result of the reference quarter must, however, be seen with caution, because the three companies presented negative gross profit, which implies that the revenues directly linked to their operation were not enough to cover their costs. The main factor for the transformation of the net result into a positive one in the sector was the financial result (+R$2.7 billion), mostly resulting from gains with exchange rate variations. In the case of Azul and Gol, the financial result also made their net income positive, but not so in the case of Latam.
The information is available in the Data and Statistics section of the ANAC portal (available only in Portuguese).
Methodology of the Financial Statements
In compliance with Resolution N. 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 revenue 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.