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Azul Azul Reports Second Quarter 2021 Results with Record Liquidity and Unit Revenue Expansion São Paulo , August 12 , 2021 - 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 2021 ( " 2Q21 " ) . 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 % A 323.9 % 1,702.4 401.6 -35.0 % ( 2,102.5 ) ( 1,221.8 ) 72.1 % -7.3 % ASKS ( million ) 6,105 1,395 337.7 % -25.1 % RPKS ( million ) 4,681 1,016 360.7 % -31.8 % PRASK ( Cents ) 23.2 20.3 14.6 % -23.9 % RASK ( R $ cents ) 27.9 28.8 -3.2 % -13.1 % Operating expenses were adjusted for non - recurring items recorded under other expenses netting R $ 1.7 million in 2Q21 from COVID - 19 related aircraft redeliveries expenses and revised non - cash provisions , partially offset by the reversal of an impairment loss of E1s that have returned to the fleet as dedicated freighters . Operating expenses in 2Q20 and 2Q19 were adjusted for non - recurring items totaling R $ 203.6 million and R $ 8.4 million , respectively . 1 Operating revenues ( R $ million ) Operating expenses ( R $ million ) ¹ Second Quarter Results 2021 2Q21 2Q20 2Q19 2,617.7 ( 2,267.6 ) 8,156 6,860 30.5 32.1 % A During the second quarter of 2021 , Azul continued its network recovery , reaching 130 destinations served , compared to 116 pre - pandemic . Operating revenues totaled R $ 1.7 billion for the second quarter of the year . PRASK increased 14.6 % compared to 2Q20 and 4.2 % compared to 1Q21 . These figures are further evidence of our rational capacity deployment and the sustainable competitive advantages of our network and business model . Azul Cargo had another record revenue quarter . Net revenue grew 137.2 % compared to 2Q19 even with 33.2 % fewer departures , driven by strong demand in our logistics solutions supported by our domestic and international network . 1 Operating expenses decreased 7.3 % or R $ 165.1 million compared to 2Q19 , mainly driven by lower capacity related expenses and by cost reduction initiatives implemented since the onset of the pandemic to ensure higher operational efficiency going forward . During the quarter , Azul's operational cash inflows surpassed operating cash outflows by R $ 421.3 million . At the end of 2Q21 , our immediate liquidity position was the highest in our history at R $ 5.5 billion . Total liquidity , including long - term investments and receivables , maintenance reserves and deposits , reached R $ 8.2 billion , an increase of 45.5 % compared to 2Q20 . In June , Azul successfully concluded a public offering of US $ 600 million in unsecured bonds at a 7.375 % yield . We were the first and only airline in Latin America to issue new unsecured debt since the onset of the COVID - 19 pandemic . As we exit the second quarter , which was impacted by weak seasonality and the second wave of the COVID 19 pandemic , recent booking trends are very encouraging . We have seen an acceleration in the demand recovery , leading to an increase in fares . Our booked leisure and corporate fares are currently all higher than 2019 levels .