Azul(AZUL) - 2019 Q3 - Earnings Call Presentation

Financial Highlights - Net revenue increased by 25% year-over-year, with a 0.8 percentage point increase in operating margin[14] - EBITDA reached R$935.8 million, a 24.4% increase year-over-year[14] - Operating income increased by 31% year-over-year to R$559.3 million[14] - Net income, adjusted for foreign currency, increased by 57% to R$441 million[14] Cargo and Loyalty Program Growth - Cargo revenue increased by 42% year-over-year[15, 17] - Cargo volume share increased from 12% to 22% year-over-year[15] - E-commerce represented 19% of cargo revenue[15] - Gross billings for TudoAzul, the loyalty program, increased by 40% year-over-year[15, 17] Network and Fleet - The company serves 114 destinations, including 104 domestic and 10 international[12] - The company operates 910 daily flights[12] - The company has 237 routes[12] - The company has routes leadership position of 84%[12] Liquidity and Outlook - Cash balance is R$4,367 million[18] - Net Debt/EBITDA is 3.3, or 3.0 adjusting for new leases[18] - ASK (Available Seat Kilometers) growth is expected to be approximately 20% for the full year 2019[22]