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Azul's (AZUL) March Traffic Drops 13.4% From February Level
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With Brazil reeling under a second wave of the deadly coronavirus pandemic, it was obvious that Azul’s (AZUL - Free Report) March traffic report will be a disappointment compared with its February numbers.
Notably, traffic, measured in revenue passenger kilometers, declined13.4% month over month. With travel demand falling below the year-ago levels, the company reduced capacity significantly. In the same time frame, capacity measured in available seat kilometers contracted 5% in March from February levels. Since traffic decline was more than capacity contraction, load factor (% of seats filled by passengers) skidded to 71.7% in March from 78.6% in February.
However, on a year-over-year basis, the scenario was rosier with consolidated traffic increasing 11.2%. However, the capacity expansion in March was more (15.4%). Consequently, load factor decreased 2.7 percentage points. While traffic declined 8.9% domestically, the fall was huge (89.3%) internationally. Load factor declined 2.2 percentage points to 71.2% in March. Internationally, the measure plummeted 12.5% percentage points to 57.3% at Azul, which competes with the likes of Gol Linhas and Copa Holdings (CPA - Free Report) in the Latin American aviation space.
Zacks Rank & Key Pick
Azul presently carries a Zacks Rank #4 (Sell).
A better-ranked stock in the Zacks Transportation sector is Old DominionFreight Line (ODFL - Free Report) , presently carrying a Zacks Rank #2 (Buy).
Shares of Old Dominion have gained more than 75% in a year’s time.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year. Free: See Our Top Stock and 4 Runners Up >>
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Azul's (AZUL) March Traffic Drops 13.4% From February Level
With Brazil reeling under a second wave of the deadly coronavirus pandemic, it was obvious that Azul’s (AZUL - Free Report) March traffic report will be a disappointment compared with its February numbers.
Notably, traffic, measured in revenue passenger kilometers, declined13.4% month over month. With travel demand falling below the year-ago levels, the company reduced capacity significantly. In the same time frame, capacity measured in available seat kilometers contracted 5% in March from February levels. Since traffic decline was more than capacity contraction, load factor (% of seats filled by passengers) skidded to 71.7% in March from 78.6% in February.
AZUL SA Price
AZUL SA price | AZUL SA Quote
However, on a year-over-year basis, the scenario was rosier with consolidated traffic increasing 11.2%. However, the capacity expansion in March was more (15.4%). Consequently, load factor decreased 2.7 percentage points. While traffic declined 8.9% domestically, the fall was huge (89.3%) internationally. Load factor declined 2.2 percentage points to 71.2% in March. Internationally, the measure plummeted 12.5% percentage points to 57.3% at Azul, which competes with the likes of Gol Linhas and Copa Holdings (CPA - Free Report) in the Latin American aviation space.
Zacks Rank & Key Pick
Azul presently carries a Zacks Rank #4 (Sell).
A better-ranked stock in the Zacks Transportation sector is Old Dominion Freight Line (ODFL - Free Report) , presently carrying a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Old Dominion have gained more than 75% in a year’s time.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>