Análise das demonstrações financeiras da Azul S.A em um contexto de pandemia

Abstract

The rapid spread and contagion of Covid-19 has made countries around the world, including Brazil, adopt measures recommended by the WHO (World Health Organization) of social distancing, travel restrictions and border closures. As a result, the airline industry was one of the first and hardest hit in its operations. This work evaluates the economic-financial performance of an airline company with shares traded on the Stock Exchange, going through a period of crisis caused by the Covid-19 pandemic, at the beginning of 2019 and during the year of 2020. The research is classified as descriptive and quantitative. The analyzed data on the Balance Sheet and Income Statement are published by the company on B3. Based on the data generated by the liquidity, capital structure and profitability ratios, we will be able to more clearly assess the effectiveness of the strategies adopted in the administrative and financial spheres conducted by the management of Azul S.A during this period. The values measured by the financial indicators show that the company continues to depend heavily on financing with third-party capital, and that due to negotiations with suppliers and employees, it managed to go through the most critical period of the pandemic, even managing to celebrate at the end of 2020 an improvement in liquidity, which demonstrates its operational viability in the sector in the medium and long term.