March 14, 2019 / 12:22 PM / 11 days ago

Brazilian airline Azul posts profit drop in Q4

SAO PAULO, March 14 (Reuters) - Brazil’s third largest airline Azul SA on Thursday said it had a profit of 138 million reais ($36.19 million) in the fourth quarter of 2018, a 54 percent drop from the same period last year.

The airline also said it will expand flight capacity, by between 18 to 20 percent, a figure that does not include a separate planned expansion, in which Azul intends to take over several airport slots currently operated by rival Avianca Brasil, which is operating under bankruptcy protection. ($1 = 3.8130 reais) (Reporting by Marcelo Rochabrun)

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