Financial Data and Key Metrics Changes - The company reported an all-time first quarter record revenue of BRL 3.2 billion, an increase of 75% compared to Q1 2021 and almost 26% up compared to the same period in 2019 [13] - EBITDA reached BRL 593 million, representing a margin of 18.6% in the quarter, with an estimated EBITDA of BRL 900 million if excluding the impact of Omicron [14][20] - Cash flow generated during the quarter was BRL 500 million, with immediate liquidity at BRL 3.3 billion, well above Q1 2019 levels [21] Business Line Data and Key Metrics Changes - Cargo revenue tripled compared to Q1 2019, reaching almost BRL 300 million, highlighting the strong performance of the logistics business [11] - Azul Viagens saw record domestic sales with bookings increasing more than 70% compared to 2019, and over 900 dedicated flights planned for July, more than double compared to 2019 [12] Market Data and Key Metrics Changes - Corporate revenue recovered to more than 120% of 2019 levels, with corporate volumes still 29% below pre-pandemic levels, indicating potential for further recovery [15] - The company experienced strong booking trends, with record booking days in March and April, leading to expectations of record unit revenue in Q2 [42] Company Strategy and Development Direction - The company aims to leverage its unique network and diversified fleet to support growth in Brazil, which is viewed as a growth market due to its commodity economy [8][9] - Azul's strategy includes focusing on margin expansion and cost reduction while maintaining a disciplined approach to capacity deployment [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the Brazilian aviation market's future, anticipating a generation of BRL 4 billion in EBITDA for 2022 and BRL 5.5 billion in 2023, which would triple EBITDA compared to pre-IPO levels [22] - The company noted that the operational challenges from Omicron were behind them, and they are optimistic about sustained demand growth [13][14] Other Important Information - The company has no significant debt repayments over the next two years and has reduced gross debt by 13% compared to December 31, 2021 [21] - Azul's loyalty program has grown to 14 million members, with active customers doubling compared to 2019 [17] Q&A Session Summary Question: What components of corporate demand have not yet recovered? - Management noted that finance and government sectors are still recovering but are accelerating, with finance performing better than 2021 but not yet reaching 2019 levels [24] Question: What assumptions are baked into the 2022 and 2023 outlook regarding fuel prices? - The company is using the forward curve for fuel and FX, with expectations of slightly lower fuel prices in 2023 but still above historical levels [26][27] Question: Can you provide details on your deleveraging strategy? - The majority of the company's debt consists of capitalized leases, with plans to pay down deferred rents next year as EBITDA returns to pre-pandemic levels [31][33] Question: What has changed structurally in the Brazilian market regarding leisure demand? - Seasonality has flattened, leading to sustained demand at higher levels, with weekend bookings indicating a new normal rather than pent-up demand [50][51] Question: Is there still more upside in pricing? - The company is seeing more opportunities to increase prices without resistance from customers, supported by a disciplined capacity environment [52]

Azul S.A. (NYSE:AZUL) Q4 2021 Earnings Conference Call February 24, 2022 10:00 AM ET Company Participants Thais Haberli - IR Manager David Neeleman - Founder and Chairman Abhi Shah - Chief Revenue Officer John Rodgerson - CEO Alexandre Malfitani - CFO Conference Call Participants Savanthi Syth - Raymond James Alejandro Zamacona - Credit Suisse Gabriel Inagaki - Itaú BBA Michael Linenberg - Deutsche Bank Daniel McKenzie - Seaport Global Nicolas Fabiancic - Jefferies Operator Hello, everyone, and welcome to A ...

Azul SA (NYSE:AZUL) Q3 2021 Earnings Conference Call November 11, 2021 10:00 AM ET Company Participants Thais Haberli - IR Manager David Neeleman - Founder, CEO and Chairman, Azul Linhas Aéreas Brasileiras S.A Abhi Shah - Chief Revenue Officer John Rodgerson - CEO Alexandre Malfitani - CFO & IR Officer Conference Call Participants Joshua Milberg - Morgan Stanley Savanthi Syth - Raymond James & Associates Michael Linenberg - Deutsche Bank Alejandro Zamacona - Credit Suisse Bruno Amorim - Goldman Sachs Group ...

Azul S.A. (NYSE:AZUL) Q2 2021 Earnings Conference Call August 12, 2021 11:00 AM ET Company Participants Thais Haberli - IR Manager David Neeleman - Founder & Chairman John Rodgerson - CEO Alex Malfitani - CFO Abhi Shah - CRO Conference Call Participants Hillary Cacanando - Deutsche Bank Savi Syth - Raymond James Dan McKenzie - Seaport Global Operator Hello, everyone, and welcome to Azul's Second Quarter 2021 Results Conference Call. My name is Simone and I'll be your operator for today. This event is being ...