AZUL - Why Shares of Azul Soared This Week
2023-05-18 13:14:53 ET
Shares of Brazilian airline Azul (NYSE: AZUL) rose by 10.1% this week to midday on Thursday. The move comes after Azul's well-received first-quarter earnings and outlook for 2023 and 2024.
The earnings report showed the company growing revenue by 40.3% compared to the same period a year ago as the airline enjoyed the benefits of rapidly recovering domestic and international air travel. In addition, Azul reported a substantial improvement in some of its key operating metrics.
For example, available seat kilometers (ASK) increased by 19.1% in the quarter, and management expects a 14% increase for the full year.
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Why Shares of Azul Soared This Week