Azul (AZUL - Free Report) has announced plans to expand operations across Europe with a new non-stop service to Porto, Portugal. The carrier will begin plying on the route Jun 3, 2019 onward from its main hub at Campinas. This thrice weekly service will be operated on Airbus A330 aircraft consisting of 272 seats. Tickets on the route are currently available.
At present, Azul serves Lisbon from Campinas. Additionally, the airline operates flights to Paris in partnership with Aigle Azur. Apart from growing its base across Europe, the new service will help Azul strengthen its footprint in its primary hub.
Notably, solid demand for air travel has been aiding the company immensely in generating higher passenger revenues and in turn, boosting its top-line growth. Passenger revenues, accounting for bulk of the company’s top line, rose 19.6% on a year-over-year basis during the first nine months of 2018. The new service is anticipated to attract significant traffic and further bolster passenger revenues.
Azul carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space are Air France-KLM SA (AFLYY - Free Report) , International Consolidated Airlines Group SA (ICAGY - Free Report) and Spirit Airlines, Inc. (SAVE - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Air France-KLM and Spirit Airlines have rallied 24.5% and 69.8%, respectively, in the past six months. Meanwhile, the International Consolidated Airlines stock flaunts an encouraging earnings history, having outshined the Zacks Consensus Estimate in three of the last four reported quarters, the average beat being 92.9%.
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