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Brazil's airlines post record 2Q revenues, but profits are elusive

Premium Analysis

The recovery in Brazil’s aviation market is well under way, and the country’s airlines believe that the momentum will continue for the foreseeable future.

Both Azul and GOL posted record revenues during 2Q2022, which is typically the slower time of year in the Brazilian market. 

Now, as a busier season is under way, the pricing environment should remain robust. And it appears that Brazilian operators are behaving in a rational manner in their capacity deployment. 

But familiar challenges remain – fuel costs volatility and pressure from currency fluctuations.

Those headwinds pushed Azul and GOL into losses for 2Q2022, and could possibly continue to pressure profitability. 

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