Azul S.A., "Azul" (B3:AZUL4,NYSE:AZUL) the largest airline in Brazil by number of cities and departures, announces today its results for the second quarter of 2019 ("2Q19"). The following financial information, unless stated otherwise, is presented in Brazilian reais and in accordance with International Financial Reporting Standards (IFRS).

Financial and Operating Highlights for 2Q19

Operating income was R$339.9 million yielding a margin of 13.0%, compared with R$200.1 million and a margin of 10.0% in 2Q18.
Net income totaled R$345.5 million, compared to a net loss of R$791.4 million in 2Q18.
Passenger traffic (RPK) increased 21.3% on a capacity growth of 15.5%, representing a load factor of 84.1%, 4.0 percentage points higher than 2Q18.
In addition to the double-digit growth in capacity, RASK and PRASK increased 13.6% and 13.0% year over year, respectively. RASK adjusted for the increase in stage length increased 15.1% year over year.
Total liquidity[1]position was R$4.2 billion, up R$371.1 million, representing 42% of last twelve months' revenue. Azul also generated R$386.9 million in free cash flow during the quarter.

To access the full report visit www.voeazul.com.br/ir