The following is a summary of the Azul S.A. (AZUL) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Azul reported record revenues of nearly BRL19 billion for the year, 60% higher than 2019.

• The Q4 revenue alone was BRL5 billion, a new record for any quarter.

• Yearly EBIT recorded at BRL5.2 billion, BRL2 billion higher than the previous year.

• Q4's EBITDA was BRL1.5 billion with a 29% EBITDA margin.

• They generated a positive cash flow used to pay off debt and deferrals, resulting in a BRL300 million boost in cash.

Business Progress:

• Azul concluded a capital optimization plan aiming at long-term success.

• The company continued to perform well operationally, standing as the second most on-time airline globally.

• Over 25% of its revenue now comes from non-ticket operations edging their diversification strategy forward.

• Future deliveries will come mainly from Embraer, reinforcing their fleet transformation and growth plans.

• Azul has opportunities to reduce costs by bringing services like maintenance in-house, ensuring continuity amidst supply chain crisis.

• The company is in talks with the Brazilian government to secure a competitive credit line to aid growth. This credit line, between BRL6 billion to BRL8 billion, is not yet included in future forecasts.

More details: Azul SA IR

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