Azul SA ADR
AZULIndustrials·Airlines·Brazil·Small·NYSE·Nov 11 • 3:59 PM ET
Price
AZUL against its 20 and 50-day averages99.0% under the 52-week high of 491.19 on 2 Feb 2026. 52-week low 3.35 on 27 Oct 2026. Last 15 sessions, 86.9% high to low
Volume 0.45× normal · the line is the 50-bar volume average
Profile
AZULAzul SA is a holding company, which engages in the provision of airline passenger and cargo services. The firm's service features include passenger seat selection, leather seats, individual entertainment screens with free live television at every seat in all E-Jets, extensive legroom with a pitch of 30 inches or more, complimentary beverage and snack services and free bus service to key airports. The company was founded by David Neeleman on January 03, 2008 and is headquartered in Barueri, Brazil.
| Employees | 14674 |
|---|---|
| IPO | Feb 02, 2026 |
| ATR, 14d | 0.52 |
| Rel volume | 0.45 |
| Short float | 0.16% |
| Insider own | 8.64% |
| Inst own | 35.24% |
Snapshot
6 groupsValuation
| Index | - |
|---|---|
| Market Cap | 992.03M |
| Enterprise Value | 4.88B |
| Income | 315.22M |
| Sales | 4.11B |
| Book/sh | -5.40 |
| Cash/sh | 1.22 |
| Dividend Est. | - |
| Dividend TTM | 0.12 (2.32%) |
| Dividend Ex-Date | - |
| Dividend Gr. 3/5Y | - - |
| Payout | - |
| Employees | 14674 |
| IPO | Feb 02, 2026 |
Ratios
| P/E | - |
|---|---|
| Forward P/E | 3.82 |
| PEG | - |
| P/S | 0.24 |
| P/B | - |
| P/C | 4.05 |
| P/FCF | - |
| EV/EBITDA | 4.46 |
| EV/Sales | 1.19 |
| Quick Ratio | 0.32 |
| Current Ratio | 0.42 |
| Debt/Eq | - |
| LT Debt/Eq | - |
| Option/Short | No / Yes |
Earnings
| EPS (ttm) | -185945.22 |
|---|---|
| EPS next Y | 1.30 |
| EPS next Q | -0.14 |
| EPS this Y | 302.49% |
| EPS next Y | 166.71% |
| EPS next 5Y | - |
| EPS past 3/5Y | - - |
| Sales past 3/5Y | 7.85% 28.31% |
| EPS Y/Y TTM | 46.01% |
| Sales Y/Y TTM | 12.03% |
| EPS Q/Q | -100.00% |
| Sales Q/Q | 12.99% |
| Earnings | Nov 12 BMO |
| EPS/Sales Surpr. | -122.58% -1.09% |
Ownership
| Insider Own | 8.64% |
|---|---|
| Insider Trans | 0.00% |
| Inst Own | 35.24% |
| Inst Trans | 78.13% |
| ROA | 5.80% |
| ROE | - |
| ROIC | 13.24% |
| Gross Margin | 20.99% |
| Oper. Margin | 13.60% |
| Profit Margin | 7.67% |
| SMA20 | -1.90% |
| SMA50 | -20.11% |
| SMA200 | -59.09% |
| Trades | - |
Technical
| Shs Outstand | 184.28M |
|---|---|
| Shs Float | 183.10M |
| Short Float | 0.16% |
| Short Ratio | 0.87 |
| Short Interest | 0.29M |
| 52W High | 491.19 -98.99% |
| 52W Low | 3.35 47.76% |
| Volatility | 12.62% 11.44% |
| ATR (14) | 0.52 |
| RSI (14) | 44.28 |
| Beta | - |
| Rel Volume | 0.45 |
| Avg Volume | 331.25K |
| Volume | 150,378 |
Performance
| Perf Week | 1.85% |
|---|---|
| Perf Month | -29.89% |
| Perf Quarter | -41.56% |
| Perf Half Y | -63.05% |
| Perf YTD | -98.99% |
| Perf Year | - |
| Perf 3Y | - |
| Perf 5Y | - |
| Perf 10Y | - |
| Recom | 2.40 |
| Target Price | 10.76 |
| Prev Close | 5.32 |
| Price | 4.95 |
| Change % | -6.95% |
Analyst ratings
latest 2 of 2| Date | Action | Analyst | Rating change | Target | Implied |
|---|---|---|---|---|---|
| Oct 19, 2026 | Initiated | GGoldman | Neutral | $8.10 | +63.6% |
| Sep 09, 2026 | Resumed | DDeutsche Bank | Buy | $11 | +122.2% |
Peers
Mkt cap| Ticker | Company | Mkt cap |
|---|---|---|
| LTM | LATAM Airlines Group SA ADR | 14.05B |
| CPA | Copa Holdings SA | 6.08B |
| AERO | Grupo Aeromexico SAB de CV ADR | 2.43B |
| VLRS | Controladora Vuela Cia De Aviacion ADR | 997.77M |
| AAL | American Airlines Group Inc | 9.34B |
| JBLU | Jetblue Airways Corp | 1.52B |
| SKYW | Skywest Inc | 3.25B |
| RJET | Republic Airways Holdings Inc | 997.65M |
| UAL | United Airlines Holdings Inc | 38.46B |
| ULCC | Frontier Group Holdings Inc | 1.86B |
Held by
AUM| Ticker | Company | AUM |
|---|---|---|
| FBND | Fidelity Total Bond ETF | AUM: 28.57B |
Quarterly earnings
actual against estimate| Period | Reported | EPS act | EPS est | EPS rep | Sales act | Sales est | Analysts |
|---|---|---|---|---|---|---|---|
| 2026Q3 | 2026-11-12 | - | -0.144 | - | - | 1,085 | 4 |
| 2026Q2 | 2026-08-13 | -1.089 | -0.489 | -1.389 | 963.88 | 974.49 | 2 |
| 2026Q1 | 2026-05-07 | 1.498 | 0.450 | 6.278 | 1,068 | 1,120 | 2 |
| 2025Q3 | 2025-11-14 | -40,519 | - | -87,872 | 1,112 | - | - |
| 2026Q4 | - | - | -0.040 | - | - | 1,158 | 4 |
| 2027Q1 | - | - | 0.256 | - | - | 1,266 | 1 |
| 2027Q2 | - | - | 0.256 | - | - | 1,266 | 1 |
Annual earnings
| Period | EPS act | EPS est | EPS rep | Sales act | Sales est |
|---|---|---|---|---|---|
| 2024FY | -133,916 | -129,671 | -160,704 | 3,476 | 3,411 |
| 2025FY | -0.240 | 110,525 | -0.240 | 4,238 | 4,259 |
| 2026FY | - | 0.487 | - | - | 4,232 |
| 2027FY | - | 1.297 | - | - | 4,790 |
| 2028FY | - | 1.504 | - | - | 5,216 |
Estimate revisions
last 14 periods| Period | Type | Date | Estimates | Up | Down | Mean | Low | High |
|---|---|---|---|---|---|---|---|---|
| 2026Q3 | S | 2026-11-02 | 5 | 1 | 1 | 1,085 | 1,032 | 1,150 |
| 2026Q3 | S | 2026-10-30 | 5 | 1 | 1 | 1,097 | 1,032 | 1,150 |
| 2026Q3 | S | 2026-10-16 | 4 | 1 | 1 | 1,114 | 1,049 | 1,150 |
| 2026Q3 | S | 2026-09-18 | 3 | 1 | 1 | 1,102 | 1,049 | 1,145 |
| 2026Q3 | S | 2026-09-07 | 3 | 0 | 2 | 1,097 | 1,035 | 1,145 |
| 2026Q3 | S | 2026-09-01 | 2 | 0 | 2 | 1,090 | 1,035 | 1,145 |
| 2026Q3 | S | 2026-08-14 | 2 | 0 | 2 | 1,113 | 1,035 | 1,191 |
| 2026Q3 | S | 2026-08-13 | 2 | 0 | 2 | 1,149 | 1,106 | 1,191 |
| 2026Q3 | S | 2026-07-09 | 2 | 0 | 2 | 1,149 | 1,106 | 1,191 |
| 2026Q3 | S | 2026-06-18 | 2 | 0 | 2 | 1,159 | 1,127 | 1,191 |
| 2026Q3 | S | 2026-06-01 | 2 | 0 | 1 | 1,177 | 1,127 | 1,226 |
| 2026Q3 | S | 2026-05-29 | 2 | 0 | 1 | 1,173 | 1,121 | 1,226 |
| 2026Q3 | S | 2026-05-08 | 2 | 0 | 1 | 1,192 | 1,158 | 1,226 |
| 2026Q3 | S | 2026-05-07 | 2 | 0 | 0 | 1,198 | 1,170 | 1,226 |
Estimate history
| EPS, annual | 157523.75 | -154464.647 | -536006.782 | -1841650.162 | -677614.86 | -120690.3 | -411397.197 | -1464823.2 | 8506.578 | -185945.2225 |
|---|---|---|---|---|---|---|---|---|---|---|
| Period | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
| EPS, quarterly | -631259.686 | 18854.112 | -651853.305 | 198259.355 | 90334.345 | -87871.513 | -98078.484 | 6.278 | -1.504 | |
| Period | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
| Sales, annual | 2439.863 | 2477.129 | 2900.641 | 1113.599 | 1848.665 | 3088.008 | 3714.689 | 3622.036 | 3873.527 | 4110.88 |
| Period | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
| Sales, quarterly | 800.934 | 924.988 | 949.919 | 922.456 | 872.003 | 1052.906 | 1031.811 | 1040.922 | 985.238 | |
| Period | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
| Shares, annual | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 184.279 |
| Period | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | MRQ |
| Shares, quarterly | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 182.436 | 184.279 | |
| Period | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
Income statement, annual
| Metric | TTM | 2025FY | 2024FY | 2023FY | 2022FY | 2021FY | 2020FY | 2019FY | 2018FY |
|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 4,110.88 | 3,873.53 | 3,622.04 | 3,714.69 | 3,088.01 | 1,848.67 | 1,113.60 | 2,900.64 | 2,477.13 |
| Cost of Goods Sold Incl. D&A | 3,248.01 | 2,798.67 | 2,683.39 | 3,089.97 | 2,769.77 | 1,741.55 | 1,310.43 | 2,378.61 | 1,857.53 |
| Gross Profit | 862.87 | 1,074.86 | 938.64 | 624.72 | 318.24 | 107.12 | -196.83 | 522.03 | 619.60 |
| Selling, General and Administrative Excl. Other | - | 303.14 | 276.35 | 262.64 | 206.45 | 138.16 | 219.45 | 305.76 | 293.14 |
| Other Operating Expense | 0.00 | 0.00 | - | - | - | - | 0.00 | 0.00 | 0.00 |
| Operating Income | 559.03 | 771.72 | 662.29 | 362.08 | 111.78 | -31.04 | -416.28 | 216.27 | 326.46 |
| Interest Expense | 1,253.69 | 1,325.17 | 893.43 | 839.97 | 744.57 | 599.54 | 527.82 | 273.93 | 254.90 |
| Unusual Expense | 1,150.02 | 207.23 | -89.83 | 101.02 | -363.84 | -359.49 | 134.65 | 436.80 | -81.53 |
| Net Income Before Taxes | -1,114.23 | 22.35 | -1,704.74 | -468.67 | -139.87 | -780.78 | -2,147.51 | -642.95 | -123.88 |
| Income Taxes | -1,429.44 | 0.00 | -7.20 | 7.91 | 0.00 | 0.00 | -47.01 | -33.76 | 50.00 |
| Consolidated Net Income | 315.22 | 22.35 | -1,697.54 | -476.58 | -139.87 | -780.78 | -2,100.50 | -609.19 | -173.87 |
| Net Income From Continuing Operations | 315.22 | 22.35 | -1,697.54 | -476.58 | -139.87 | -780.78 | -2,100.50 | -609.19 | -173.87 |
| Net Income | 315.22 | 22.35 | -1,697.54 | -476.58 | -139.87 | -780.78 | -2,100.50 | -609.19 | -173.87 |
| EPS (Recurring) | 6.08 | 63,720.79 | -1,519,085.72 | -350,356.33 | -340,453.72 | -896,008.42 | -1,759,008.53 | -266,974.48 | -205,164.54 |
| EPS (Basic, Before Extraordinaries) | -185,945.22 | 8,506.58 | -1,464,823.20 | -411,397.20 | -120,690.30 | -677,614.86 | -1,841,650.16 | -536,006.78 | -154,464.65 |
| EPS (Diluted) | -185,945.22 | 8,506.58 | -1,464,823.20 | -411,397.20 | -120,690.30 | -677,614.86 | -1,841,650.16 | -536,006.78 | -154,464.65 |
| EBITDA | 1,096.12 | 1,311.10 | 1,137.90 | 843.42 | 517.33 | 255.15 | -66.24 | 627.54 | 677.65 |
| Non-Operating Income (Expense) | 730.46 | 783.03 | -1,563.44 | 110.24 | 129.08 | -509.69 | -1,068.76 | -148.49 | -276.96 |
| Other After Tax Adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stock Option Compensation Expense | 10.29 | 8.36 | 5.32 | 8.61 | -2.33 | 3.18 | 2.93 | - | - |
| Price To Sales Ratio | 0.40 | - | - | - | - | - | - | - | - |
| Gross Margin | 20.99 | 27.75 | 25.91 | 16.82 | 10.31 | 5.79 | -17.67 | 18.00 | 25.01 |
| Operating Margin | 13.60 | 19.92 | 18.29 | 9.75 | 3.62 | -1.68 | -37.38 | 7.46 | 13.18 |
| Net Margin | 7.67 | 0.58 | -46.87 | -12.83 | -4.53 | -42.23 | -188.62 | -21.00 | -7.02 |
| Shares Outstanding | 184.28 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Market Capitalization | 992.05 | 992.05 | - | - | - | - | - | - | - |
Income statement, quarterly
| Metric | 2026Q2 | 2026Q1 | 2025Q4 | 2025Q3 | 2025Q2 | 2025Q1 | 2024Q4 | 2024Q3 |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | 985.24 | 1,040.92 | 1,031.81 | 1,052.91 | 872.00 | 922.46 | 949.92 | 924.99 |
| Cost of Goods Sold Incl. D&A | 964.65 | 791.95 | 734.55 | 756.85 | 756.42 | 535.77 | 693.38 | 640.09 |
| Gross Profit | 20.58 | 248.97 | 297.26 | 296.05 | 115.58 | 386.69 | 256.54 | 284.90 |
| Selling, General and Administrative Excl. Other | 78.54 | 85.06 | - | 140.24 | 86.52 | 97.02 | 67.97 | 73.86 |
| Other Operating Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | - | 0.00 |
| Operating Income | -57.96 | 163.92 | 297.26 | 155.82 | 29.07 | 289.67 | 188.56 | 211.04 |
| Interest Expense | 142.03 | 269.47 | 359.02 | 483.17 | 260.15 | 251.05 | 223.12 | 220.70 |
| Unusual Expense | -2.85 | 988.95 | 139.54 | 24.39 | -245.42 | 158.84 | -70.65 | 53.60 |
| Net Income Before Taxes | -277.18 | -284.07 | -302.19 | -250.78 | 259.01 | 282.77 | -755.92 | 21.98 |
| Income Taxes | 0.00 | -1,429.44 | -0.00 | 0.00 | 0.00 | 0.00 | -0.04 | 0.12 |
| Consolidated Net Income | -277.18 | 1,145.37 | -302.19 | -250.78 | 259.01 | 282.77 | -755.87 | 21.85 |
| Net Income From Continuing Operations | -277.18 | 1,145.37 | -302.19 | -250.78 | 259.01 | 282.77 | -755.87 | 21.85 |
| Net Income | -277.18 | 1,145.37 | -302.19 | -250.78 | 259.01 | 282.77 | -755.87 | 21.85 |
| EPS (Recurring) | -1.51 | 10.07 | -66,377.01 | -81,889.03 | 30,418.20 | 276,214.27 | -694,502.68 | 51,228.10 |
| EPS (Basic, Before Extraordinaries) | -1.50 | 6.28 | -98,078.48 | -87,871.51 | 90,334.34 | 198,259.35 | -651,853.30 | 18,854.11 |
| EPS (Diluted) | -1.50 | 6.28 | -98,078.48 | -87,871.51 | 90,334.34 | 198,259.35 | -651,853.30 | 18,854.11 |
| EBITDA | 89.88 | 288.42 | 430.34 | 287.48 | 163.65 | 429.08 | 310.52 | 323.94 |
| Non-Operating Income (Expense) | -80.04 | 810.43 | -100.90 | 100.97 | 244.68 | 402.99 | -792.01 | 85.24 |
| Other After Tax Adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stock Option Compensation Expense | 2.62 | 7.64 | 0.01 | 0.02 | 6.72 | 1.44 | 1.18 | 1.28 |
| Price To Sales Ratio | 0.40 | 0.18 | - | - | - | - | - | - |
| Gross Margin | 2.09 | 23.92 | 28.81 | 28.12 | 13.25 | 41.92 | 27.01 | 30.80 |
| Operating Margin | -5.88 | 15.75 | 28.81 | 14.80 | 3.33 | 31.40 | 19.85 | 22.82 |
| Net Margin | -28.13 | 110.03 | -29.29 | -23.82 | 29.70 | 30.65 | -79.57 | 2.36 |
| Shares Outstanding | 184.28 | 182.44 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Market Capitalization | 992.05 | 711.50 | 0.00 | - | - | - | - | - |
Balance sheet, annual
| Metric | 2025FY | 2024FY | 2023FY | 2022FY | 2021FY | 2020FY | 2019FY | 2018FY | 2017FY |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 185.76 | 207.50 | 390.59 | 126.59 | 552.11 | 607.72 | 425.06 | 435.16 | 547.95 |
| Short Term Receivables | 534.90 | 320.39 | 276.56 | 399.47 | 212.53 | 218.04 | 343.20 | 368.08 | 309.70 |
| Inventories | 245.29 | 197.13 | 210.03 | 159.75 | 139.19 | 77.51 | 64.85 | 51.64 | 45.34 |
| Other Current Assets | 184.38 | 190.83 | 161.22 | 236.96 | 145.78 | 139.71 | 195.74 | 97.25 | 93.16 |
| Total Current Assets | 1,150.33 | 915.86 | 1,038.40 | 922.76 | 1,049.61 | 1,042.98 | 1,028.84 | 952.12 | 996.15 |
| Net Property, Plant & Equipment | 2,353.63 | 2,347.94 | 2,327.78 | 1,800.40 | 1,429.22 | 1,234.15 | 2,374.93 | 1,909.69 | 1,002.54 |
| Total Investments and Advances | 0.00 | 168.42 | 160.64 | 183.52 | 211.38 | 231.71 | 510.97 | 484.17 | 755.35 |
| Long-Term Note Receivable | 5.37 | 0.00 | 3.34 | 20.05 | 35.55 | 36.48 | 50.82 | 74.33 | 2.93 |
| Intangible Assets | 280.30 | 252.45 | 301.23 | 270.19 | 243.81 | 225.30 | 270.34 | 262.29 | 289.71 |
| Deferred Tax Assets | - | - | - | - | - | 0.00 | 4.29 | 4.69 | 38.02 |
| Other Assets | 524.04 | 568.42 | 395.58 | 348.96 | 357.80 | 270.16 | 536.38 | 470.00 | 63.45 |
| Total Assets | 4,313.68 | 4,253.09 | 4,226.97 | 3,545.87 | 3,327.37 | 3,040.79 | 4,776.58 | 4,157.28 | 3,148.15 |
| Short Term Debt Incl. Current Port. of LT Debt | 3,143.53 | 1,399.47 | 990.87 | 976.12 | 811.68 | 602.73 | 513.70 | 360.37 | 171.30 |
| Accounts Payable | 717.41 | 671.31 | 468.92 | 460.79 | 318.07 | 430.99 | 342.27 | 332.24 | 287.46 |
| Income Tax Payable | 24.58 | 19.03 | 28.35 | 35.82 | 21.81 | 10.64 | 12.20 | 14.71 | 13.39 |
| Other Current Liabilities | 1,493.05 | 1,364.84 | 1,548.11 | 1,378.94 | 950.82 | 921.80 | 837.66 | 653.95 | 533.05 |
| Total Current Liabilities | 5,378.56 | 3,454.65 | 3,036.25 | 2,851.67 | 2,102.38 | 1,966.16 | 1,705.82 | 1,361.26 | 1,005.20 |
| Long Term Debt | 3,400.50 | 4,506.24 | 4,129.17 | 3,421.67 | 3,660.37 | 3,224.87 | 3,370.45 | 2,652.17 | 880.79 |
| Provision for Risks Charges | 255.58 | 567.89 | 494.98 | 456.22 | 452.87 | 382.86 | 370.38 | 184.21 | 22.07 |
| Deferred Tax Liabilities | 35.33 | 32.20 | 31.25 | 13.56 | - | 0.00 | 64.58 | 80.34 | 136.57 |
| Other Liabilities | 542.87 | 618.64 | 925.92 | 402.82 | 403.14 | 190.84 | 140.18 | 176.02 | 249.28 |
| Total Liabilities | 9,612.84 | 9,179.60 | 8,617.58 | 7,145.94 | 6,618.76 | 5,764.74 | 5,651.41 | 4,454.01 | 2,293.91 |
| Non-Equity Reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Preferred Stock - Carrying Value | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Common Equity | -5,299.16 | -4,926.51 | -4,390.61 | -3,600.08 | -3,291.38 | -2,723.95 | -874.83 | -296.73 | 854.24 |
| Total Shareholders Equity | -5,299.16 | -4,926.51 | -4,390.61 | -3,600.08 | -3,291.38 | -2,723.95 | -874.83 | -296.73 | 854.24 |
| Accumulated Minority Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Equity | -5,299.16 | -4,926.51 | -4,390.61 | -3,600.08 | -3,291.38 | -2,723.95 | -874.83 | -296.73 | 854.24 |
| Total Liabilities & Stockholders Equity | 4,313.68 | 4,253.09 | 4,226.97 | 3,545.87 | 3,327.37 | 3,040.79 | 4,776.58 | 4,157.28 | 3,148.15 |
| Book Value Per Share | -56,004,234.31 | -119,322,666.09 | -106,342,884.45 | -87,195,641.81 | -79,718,948.79 | -65,975,477.70 | -21,188,794.25 | -7,186,866.60 | 20,690,198.68 |
| Tangible Book Value Per Share | -58,966,639.44 | -125,437,189.84 | -113,638,787.28 | -93,739,721.18 | -85,624,220.37 | -71,432,425.51 | -27,736,488.31 | -13,539,571.79 | 13,673,255.30 |
| Full-Time Employees | 14,674 | 15,367 | 15,248 | 13,543 | 12,485 | 11,945 | 13,189 | 11,807 | 10,878 |
| Price to Book Ratio | -0.92 | - | - | - | - | - | - | - | - |
| Return on Assets | 0.52 | -40.04 | -12.26 | -4.07 | -24.52 | -53.74 | -15.54 | -4.76 | 5.76 |
| Return on Equity | - | - | - | - | - | - | - | -62.37 | 28.52 |
| Return on Invested Capital | - | - | - | - | -211.60 | -419.33 | -24.41 | -7.38 | 9.55 |
| Quick Ratio | 0.17 | 0.21 | 0.27 | 0.27 | 0.43 | 0.49 | 0.57 | 0.66 | 0.95 |
| Current Ratio | 0.21 | 0.27 | 0.34 | 0.32 | 0.50 | 0.53 | 0.60 | 0.70 | 0.99 |
Cash flow, annual
| Metric | TTM | 2025FY | 2024FY | 2023FY | 2022FY | 2021FY | 2020FY | 2019FY | 2018FY |
|---|---|---|---|---|---|---|---|---|---|
| Net Income | 384.36 | 22.35 | -1,697.54 | -476.58 | -139.87 | -780.78 | -2,100.50 | -609.19 | -173.87 |
| Depreciation | 542.57 | 539.38 | 475.61 | 481.34 | 405.55 | 286.56 | 350.04 | 411.27 | 351.19 |
| Other Funds (Non Cash) | 974.99 | -265.35 | 1,639.64 | 449.53 | -14.78 | 537.70 | 1,607.25 | 831.22 | 379.19 |
| Funds from Operations | 432.40 | 296.38 | 410.38 | 462.20 | 250.90 | 43.48 | -190.22 | 598.98 | 603.43 |
| Extraordinary Item | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in Working Capital | -653.90 | -516.99 | 106.60 | 226.44 | 221.04 | -101.05 | 379.48 | 58.76 | -120.73 |
| Income Taxes Payable | 10.08 | -2.16 | 14.45 | -5.36 | 1.38 | 12.36 | -1.07 | 4.79 | 1.06 |
| Cash from Operating Activities | -221.50 | -220.62 | 516.98 | 688.64 | 471.93 | -57.56 | 189.26 | 657.74 | 482.71 |
| Capital Expenditures | -98.39 | -69.23 | -169.96 | -126.79 | -280.97 | -143.96 | -87.76 | -395.57 | -324.55 |
| Net Assets From Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | -5.87 | -3.71 | -7.51 | 0.00 | 0.00 |
| Sale of Fixed Assets and Businesses | 0.05 | 1.30 | 0.00 | 0.00 | 100.44 | 0.00 | 8.85 | 15.05 | 99.32 |
| Purchase or Sale of Investments | 5.12 | -3.96 | -18.78 | 0.00 | 0.29 | 16.80 | 8.12 | 92.59 | 150.33 |
| Purchase of Investments | -0.10 | -3.96 | -18.78 | 0.00 | -2.02 | -18.31 | -285.32 | -367.99 | -777.57 |
| Sale Or Maturity of Investments | 5.21 | 0.00 | 0.00 | 0.00 | 2.31 | 35.11 | 293.44 | 460.58 | 927.90 |
| Other Uses | -71.01 | -65.70 | -107.13 | -67.87 | 0.00 | 0.00 | 0.00 | -12.94 | 0.00 |
| Other Sources | 59.46 | 34.96 | 5.44 | 19.59 | 62.21 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from Investing Activities | -104.77 | -102.63 | -290.42 | -175.08 | -123.89 | -130.86 | -78.29 | -300.86 | -74.90 |
| Cash Dividends Paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Change in Capital Stock | 538.91 | 1.46 | -0.48 | -1.04 | 3.70 | -3.00 | 4.61 | 6.32 | 9.70 |
| Repurchase of Common Pref Stock | -0.00 | -0.00 | -0.48 | -1.37 | -0.76 | -3.00 | 0.00 | -3.26 | -3.33 |
| Sale of Common Pref Stock | 538.91 | 1.46 | 0.00 | 0.32 | 4.45 | 0.00 | 4.61 | 9.57 | 13.03 |
| Proceedsfrom Stock Options | 538.91 | 1.46 | 0.00 | 0.32 | 4.45 | 0.00 | 0.00 | 0.00 | 0.00 |
| Issuance or Reduction of Debt, Net | - | 851.13 | 256.34 | 359.77 | -122.34 | 482.68 | 338.07 | 105.97 | -31.83 |
| Net Financing Active Other Cash Flow | 0.00 | 0.00 | -92.06 | -166.47 | -158.44 | 8.39 | 0.00 | 4.13 | 3.25 |
| Other Financing Activities Uses | 0.00 | 0.00 | -92.06 | -166.47 | -158.44 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from Financing Activities | 338.68 | 305.89 | -356.17 | -278.87 | -813.94 | 154.53 | 180.98 | -231.57 | -314.88 |
| Exchange Rate Effect | -40.64 | -21.73 | 2.12 | 11.36 | 0.13 | 35.55 | -17.25 | -3.95 | 18.34 |
| Net Change in Cash | -28.23 | -39.09 | -127.50 | 246.05 | -465.77 | 1.66 | 274.70 | 121.36 | 111.27 |
| Free Cash Flow | -278.72 | -256.13 | 390.60 | 595.68 | 229.41 | -173.25 | 122.75 | 295.75 | 185.56 |
| Preferred Dividends (Cash Flow) | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Deferred Taxes & Investment Tax Credit | - | 0.00 | -7.33 | 7.91 | 0.00 | 0.00 | -47.02 | -34.33 | 46.93 |
Balance sheet, quarterly
| Metric | 2026Q2 | 2026Q1 | 2025Q4 | 2025Q3 | 2025Q2 | 2025Q1 |
|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 245.15 | 399.86 | 185.76 | 331.51 | 475.11 | 279.54 |
| Short Term Receivables | 501.91 | 532.38 | 534.90 | 542.42 | 348.15 | 335.58 |
| Inventories | 307.32 | 270.92 | 245.29 | 253.44 | 228.18 | 209.90 |
| Other Current Assets | 161.33 | 181.00 | 184.38 | 243.16 | 264.12 | 215.71 |
| Total Current Assets | 1,215.72 | 1,384.15 | 1,150.33 | 1,370.52 | 1,315.56 | 1,040.73 |
| Net Property, Plant & Equipment | 2,375.24 | 2,306.52 | 2,353.63 | 2,659.05 | 2,643.53 | 2,540.15 |
| Total Investments and Advances | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.97 |
| Intangible Assets | 297.00 | 293.38 | 280.30 | 290.35 | 287.02 | 273.59 |
| Deferred Tax Assets | 1,451.99 | 1,439.19 | - | - | - | - |
| Other Assets | 606.03 | 542.19 | 524.04 | 866.09 | 682.03 | 602.15 |
| Total Assets | 5,947.68 | 5,968.37 | 4,313.68 | 5,187.49 | 4,928.14 | 4,460.59 |
| Short Term Debt Incl. Current Port. of LT Debt | 761.00 | 682.81 | 3,143.53 | 2,886.94 | 1,675.83 | 849.40 |
| Accounts Payable | 511.30 | 562.17 | 717.41 | 655.78 | 656.65 | 641.08 |
| Income Tax Payable | 31.95 | 29.14 | 24.58 | 18.43 | 16.76 | 15.43 |
| Other Current Liabilities | 1,572.88 | 1,498.66 | 1,493.05 | 1,476.51 | 1,565.07 | 1,465.91 |
| Total Current Liabilities | 2,877.14 | 2,772.79 | 5,378.56 | 5,037.66 | 3,914.30 | 2,971.82 |
| Long Term Debt | 3,376.57 | 3,270.20 | 3,400.50 | 4,223.23 | 4,752.11 | 5,415.73 |
| Provision for Risks Charges | 275.38 | 256.64 | 255.58 | 463.46 | 459.77 | 464.51 |
| Deferred Tax Liabilities | 34.12 | 35.52 | 35.33 | 37.60 | 34.29 | 34.34 |
| Other Liabilities | 380.40 | 356.00 | 542.87 | 571.81 | 538.86 | 541.52 |
| Total Liabilities | 6,943.61 | 6,691.16 | 9,612.84 | 10,333.76 | 9,699.33 | 9,427.92 |
| Non-Equity Reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Preferred Stock - Carrying Value | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Common Equity | -995.93 | -722.79 | -5,299.16 | -5,146.27 | -4,771.19 | -4,967.33 |
| Total Shareholders Equity | -995.93 | -722.79 | -5,299.16 | -5,146.27 | -4,771.19 | -4,967.33 |
| Accumulated Minority Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Equity | -995.93 | -722.79 | -5,299.16 | -5,146.27 | -4,771.19 | -4,967.33 |
| Total Liabilities & Stockholders Equity | 5,947.68 | 5,968.37 | 4,313.68 | 5,187.49 | 4,928.14 | 4,460.59 |
| Book Value Per Share | -5.40 | -3.96 | -56,004,234.31 | -54,388,476.57 | -50,424,428.78 | -120,311,246.90 |
| Tangible Book Value Per Share | -7.02 | -5.57 | -58,966,639.44 | -57,457,034.20 | -53,457,780.60 | -126,937,764.78 |
| Full-Time Employees | 14,735 | 14,751 | 14,674 | 14,886 | 15,363 | 15,338 |
| Price to Book Ratio | -0.92 | -0.98 | 0.00 | - | - | - |
| Return on Assets | 5.80 | 16.33 | -0.26 | -9.80 | -4.25 | -27.39 |
| Return on Invested Capital | -11.64 | 44.96 | - | - | - | 63.06 |
| Quick Ratio | 0.32 | 0.40 | 0.17 | 0.22 | 0.28 | 0.28 |
| Current Ratio | 0.42 | 0.50 | 0.21 | 0.27 | 0.34 | 0.35 |
Cash flow, quarterly
| Metric | 2026Q2 | 2026Q1 | 2025Q4 | 2025Q3 | 2025Q2 | 2025Q1 |
|---|---|---|---|---|---|---|
| Net Income | -242.06 | 1,145.37 | -289.76 | -229.20 | 258.65 | 282.77 |
| Depreciation | 149.54 | 124.50 | 133.90 | 134.63 | 134.29 | 139.41 |
| Other Funds (Non Cash) | 190.16 | 345.45 | 148.54 | 290.84 | -305.97 | -400.17 |
| Funds from Operations | 57.92 | 185.52 | -7.31 | 196.27 | 86.97 | 22.01 |
| Extraordinary Item | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in Working Capital | -99.29 | -210.02 | 44.97 | -389.56 | -99.57 | -75.56 |
| Income Taxes Payable | -0.74 | 4.48 | 5.29 | 1.05 | -1.47 | -7.03 |
| Cash from Operating Activities | -41.37 | -24.49 | 37.65 | -193.28 | -12.60 | -53.55 |
| Capital Expenditures | -22.32 | -20.71 | -44.74 | -10.62 | -6.26 | -7.99 |
| Net Assets From Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sale of Fixed Assets and Businesses | 0.00 | 0.00 | 0.01 | 0.03 | 0.02 | 1.24 |
| Purchase or Sale of Investments | 0.14 | 5.07 | 0.00 | -0.10 | 13.82 | -17.70 |
| Purchase of Investments | 0.00 | 0.00 | 0.00 | -0.10 | 13.82 | -17.70 |
| Sale Or Maturity of Investments | 0.14 | 5.07 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Uses | -20.05 | -5.66 | -33.12 | -12.18 | -4.05 | -16.69 |
| Other Sources | 16.46 | 13.19 | 29.68 | 0.14 | 4.92 | 0.41 |
| Cash from Investing Activities | -25.77 | -8.11 | -48.16 | -22.73 | 8.44 | -40.73 |
| Cash Dividends Paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Preferred Dividends (Cash Flow) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Change in Capital Stock | 14.59 | 524.27 | 0.02 | 0.04 | 1.10 | 0.32 |
| Repurchase of Common Pref Stock | 0.00 | 0.00 | -0.00 | -0.00 | -0.00 | 0.00 |
| Sale of Common Pref Stock | 14.59 | 524.27 | 0.02 | 0.04 | 1.10 | 0.32 |
| Proceedsfrom Stock Options | 14.59 | 524.27 | 0.02 | 0.04 | 1.10 | 0.32 |
| Issuance or Reduction of Debt, Net | 44.09 | -116.22 | 201.25 | 201.77 | 306.49 | 146.12 |
| Net Financing Active Other Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Financing Activities Uses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from Financing Activities | -74.17 | 259.41 | 69.12 | 84.33 | 184.30 | -30.24 |
| Exchange Rate Effect | -13.06 | -18.21 | 1.25 | -10.62 | -8.87 | -3.61 |
| Net Change in Cash | -154.37 | 208.59 | 59.87 | -142.31 | 171.28 | -128.13 |
| Free Cash Flow | -56.34 | -37.07 | 13.49 | -198.81 | -13.37 | -58.81 |
Revenue breakdown
| Air Transport | 2024: 3.58B 2025: 3.81B |
|---|---|
| Ancillary revenues | 2024: 46.08M 2025: 63.97M |
| Consolidation, Policy | 2024: 19.64M 2025: 25.68M |
| Consolidation, Policy | 2024: 19.64M 2025: 25.68M |
| Country of domicile | 2024: 2.99B 2025: 3.07B |
| Foreign countries | 2024: 639.24M 2025: 802.22M |
Short interest
shares short against float, oldest to newest| Settlement | Of float | Shares short | Float | Avg volume |
|---|---|---|---|---|
| 2026-10-30 | 0.16% | 0.3M | 183.1M | 276.43K |
| 2026-10-15 | 0.10% | 0.2M | 168.4M | 209.41K |
| 2026-09-30 | 0.03% | 0.1M | 168.4M | 205.57K |
| 2026-09-15 | 0.10% | 0.2M | 168.4M | 149.53K |
| 2026-08-31 | 0.05% | 0.1M | 168.4M | 165.17K |
| 2026-08-14 | 0.02% | 0.0M | 168.4M | 171.15K |
| 2026-07-31 | - | 0.1M | - | 110.69K |
| 2026-07-15 | - | 0.0M | - | 113.85K |
| 2026-06-30 | - | 0.0M | - | 116.57K |
| 2026-06-15 | - | 0.0M | - | 142.75K |
Option chain
expiry 2026-11-11| Type | Strike | Bid | Ask | Last | IV | Open int | Volume | Delta | Theta | Vega |
|---|---|---|---|---|---|---|---|---|---|---|
| No option chain for this symbol. | ||||||||||
Latest SEC filings
30| Filed | Form | Description | Period | Link |
|---|---|---|---|---|
| 2026-10-30 | 3 | Initial statement of beneficial ownership of securities | 2026-10-20 | SEC |
| 2026-10-26 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-10-24 | SEC |
| 2026-10-26 | SCHEDULE 13D | SEC | ||
| 2026-10-21 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-10-20 | SEC |
| 2026-10-20 | 424B3 | SEC | ||
| 2026-10-07 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-10-07 | SEC |
| 2026-09-30 | 424B3 | SEC | ||
| 2026-09-30 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-09-30 | SEC |
| 2026-09-14 | EFFECT | Effectiveness filing by commission order | SEC | |
| 2026-09-14 | 424B3 | SEC | ||
| 2026-08-28 | POS AM | Post-effective amendment to a registration statement that is not immediately effective upon filing | SEC | |
| 2026-08-14 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-06-30 | SEC |
| 2026-08-14 | SCHEDULE 13G/A | SEC | ||
| 2026-08-14 | SCHEDULE 13G/A | SEC | ||
| 2026-07-16 | 25 | Notification of removal from listing and/or registration from a national securities exchange | SEC | |
| 2026-07-10 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-07-09 | SEC |
| 2026-07-06 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-07-06 | SEC |
| 2026-07-06 | 8-A12B | SEC | ||
| 2026-07-06 | 424B3 | SEC | ||
| 2026-07-06 | CERT | SEC | ||
| 2026-07-01 | EFFECT | Effectiveness filing by commission order | SEC | |
| 2026-07-01 | 6-K | Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 | 2026-06-30 | SEC |
| 2026-07-01 | 424B3 | SEC | ||
| 2026-06-17 | 4 | Statement of changes in beneficial ownership of securities | 2026-06-15 | SEC |
| 2026-06-17 | 3 | Initial statement of beneficial ownership of securities | 2026-06-15 | SEC |
| 2026-06-17 | 4 | Statement of changes in beneficial ownership of securities | 2026-06-15 | SEC |
| 2026-06-17 | 4 | Statement of changes in beneficial ownership of securities | 2026-06-15 | SEC |
| 2026-06-17 | 4 | Statement of changes in beneficial ownership of securities | 2026-06-15 | SEC |
| 2026-06-17 | 4 | Statement of changes in beneficial ownership of securities | 2026-06-15 | SEC |
| 2026-06-17 | 4 | Statement of changes in beneficial ownership of securities | 2026-06-15 | SEC |
Insider activity by month
| Month | Bought | Buys | Sold | Sells |
|---|---|---|---|---|
| 2026-11 | 0 | 0 | 0 | 0 |
| 2026-10 | 0 | 0 | 0 | 0 |
| 2026-09 | 0 | 0 | 0 | 0 |
| 2026-08 | 0 | 0 | 0 | 0 |
| 2026-07 | 0 | 0 | 0 | 0 |
| 2026-06 | 0 | 0 | 0 | 0 |
| 2026-05 | 0 | 0 | 0 | 0 |
| 2026-04 | 0 | 0 | 0 | 0 |
| 2026-03 | 0 | 0 | 0 | 0 |
| 2026-02 | 0 | 0 | 0 | 0 |
| 2026-01 | 0 | 0 | 0 | 0 |
| 2025-12 | 0 | 0 | 0 | 0 |
| 2025-11 | 0 | 0 | 0 | 0 |
Institutional holders
| Manager | % owned |
|---|---|
| United Airlines Holdings, Inc. | 8.64% |
| VR Advisory Services Ltd | 4.81% |
| WHITEBOX ADVISORS LLC | 4.54% |
| DSC Meridian Capital LP | 2.97% |
| Compass Rose Asset Management, LP | 2.96% |
| FMR LLC | 1.77% |
| READYSTATE ASSET MANAGEMENT LP | 1.14% |
| MIRABELLA FINANCIAL SERVICES LLP | 1.12% |
| PointState Capital LP | 1.01% |
| Knighthead Capital Management, LLC | 0.96% |
Funds
| Fund | % owned |
|---|---|
| BlackRock Strategic Income Opportunities Portfolio | 0.29% |
| Blackstone Alternative Multi-Strategy Fund | 0.22% |
| Fidelity New Markets Income Fund | 0.15% |
| Fidelity Series Emerging Markets Debt Fund | 0.15% |
| Fidelity Total Bond Fund | 0.13% |
| Fidelity Emerging Markets Debt Central Fund | 0.08% |
| Fidelity SAI Total Bond Fund | 0.06% |
| Emerging Markets Core Fund | 0.05% |
| Fidelity Total Bond ETF | 0.05% |
| VIP Strategic Income Portfolio | 0.03% |
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