Azul saw its long-term debt increase 17% to R3.29 billion ($839 million) due to the depreciation of the Brazilian real during the second quarter.
The 16% depreciation of the real versus the US dollar resulted in a R410 million increase in the Sao Paulo-based carrier's non-real denominated debt during the period, a quarterly financial filing shows.
Debt was up 29.5% at end June from R2.54 billion a year earlier.
Cash, cash equivalents and short-term investments at Azul increased 14.6% to R1.57 billion during the second quarter. Cash was up 29.5% year-over-year.
Azul took delivery of one Airbus A320neo (MSN 8297) leased from GECAS in the quarter, Flight Fleets Analyzer shows.
Capital expenditures totalled R165 million during the second quarter.