The Consecration of Three Stars

Brazilian airline posts R$1.47 billion net income, boosted by stronger real and lower foreign currency debt

Revenue climbs 25% and Ebitda surges, driven by diversified high-end assets and expansion plans

Net revenue rose 22.9% to BRL 4.83 billion from BRL 3.93 billion a year earlier

Net debt climbed sharply to 49 billion reais from 34 billion reais in the previous quarter, driven by heavy cash consumption

Net revenue rose 2.9% from the prior year to 15.37 billion reais, exceeding projections

Net revenue rose 7.3% year-over-year, though the adjusted EBITDA margin fell to 11% from a year earlier

Administrative expenses increased 4.7% to 9.7 billion reais, driven by higher personnel costs

Founders allege conflict of interest, claim bank concealed better offers in transaction involving MGLU3 and ITUB4

Corporate loans accounted for 46.57 billion reais of the total portfolio, up 8.9% in the quarter and 15.9% year-over-year