Airlines had the biggest losses in 2020, when the negative balance reached BRL 37.5 billion
The 3 largest airlines operating in Brazil had a net loss of BRL 71 billion during the covid-19 pandemic. From 2020 to 2021, the biggest losses in the period were from Latam – Chilean company whose financial results are disclosed in US dollars.
The company had a net loss of US$9.19 billion, according to the balance sheet released on March 9. Here’s the intact (440 KB). When considering the current dollar, of R$ 4.70, the value represents R$ 43.23 billion in local currency.
The company is in judicial reorganization in the United States. The order was made in May 2020. The result was impacted by the restriction on the flow of people due to the pandemic in the countries in which the company operates. In 2020, the loss was BRL 21.38 billion. It got worse in 2021: losses totaled BRL 21.85 billion, up 2.2% against the previous year.
In the 4th quarter of 2021 alone, the company’s loss totaled US$ 2.76 billion (R$ 12.98 billion). It rose 186.3% against the same period in 2020. Before the pandemic, Latam had a net profit of R$ 895.5 million in 2019.
Brazilian companies Goal and Blue added up, together, a net loss of R$ 21.16 billion. The worst year for Gol was also in 2021, when the negative balance was R$ 7.22 billion. Latam, on the other hand, improved its result in the last year. Losses decreased from BRL 10.18 billion in 2020 to BRL 4.77 billion the following year.
#Latam #Gol #Azul #loss #billion #pandemic