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19-Jun-2017 8:46 AM

Brazilian major carriers register USD36.4m profit in 1Q2017

Brazil ANAC announced (16-Jun-2017) Azul, Gol Linhas Aereas and LATAM Airlines Brazil registered BRL120 million (USD36.4 million) in profit in 1Q2017. The three carriers registered BRL109 million (USD33.1 million) in losses in 1Q2016. Combined operational costs reduced by 28.3% year-on-year in 1Q2017. Avianca Brazil failed to present its financial results to ANAC, and will face administrative process, which could lead to penalty. As previously reported by CAPA, Avianca Holdings announced it is planning a merger with Avianca Brazil. Avianca Holdings is also amidst the process of negotiating a strategic partnership with United Airlines and the financial result of the Brazilian carrier could play a vital role on the negotiations. [more - original PR - Portuguese]

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