Azul’s main competitors in Brazil are Latam Airlines Group and Gol Transportes Aéreos.
This article compares key airline metrics between the three companies.
I argue that superiority in key ratios along with growth catalysts I have analyzed in earlier articles make Azul a strong buy.
This article will compare key metrics between Brazil’s most prominent airlines; Azul (AZUL), LATAM Airlines Group (LTM), and GOL Linhas Aereas Inteligentes (GOL). Before getting started, please refer to my earlier article on Azul which analyzes Azul’s growth catalysts and compares Azul’s EBITDAR valuation with Avianca (AVH), another high growth South American airline.LTM, a passenger and cargo airline with the largest airline by market cap on the list, operates domestically in Brazil as well as throughout South America. LTM has a much more extensive South American and international network than the other two on the list, making it the largest international airline and second largest domestic airline in Brazil. GOL also operates in Brazil and leads the domestic market, holding 36% of the domestic market in 2017. Azul holds the third largest domestic and second largest international spots.
