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Consolidated statements of cash flows - BRL (R$)
R$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net loss R$ (4,213,208) R$ (10,834,709) R$ (2,403,086)
Reconciliation of non-cash items:      
Depreciation and amortization 1,544,333 1,805,553 1,622,352
Results from impairment of onerous assets and liabilities (1,075,682) (757,554) 2,897,333
Unrealized derivative results (864,184) 2,207,470 (367,753)
Share-based payment 17,180 22,910 17,239
Foreign currency exchange, net 1,431,508 4,040,945 448,901
Interest income (expenses) on assets and liabilities 3,418,852 2,166,133 1,082,256
Related parties 0 687,531 (3,241)
Deferred income tax and social contribution 0 (242,516) (135,407)
Provisions 646,606 701,322 77,231
Sale and leaseback (22,736) (16,224) 0
Result from modification of lease contracts (24,323) (902,888) 0
Gain or loss from sale and/or disposal of property and equipment and intangible assets 832 621,415 106,914
Adjusted net loss (profit) 859,178 (500,612) 3,342,739
Changes in operating assets and liabilities      
Accounts receivable (270,334) 341,759 (98,803)
Aircraft sublease receivables 65,032 69,336 66,899
Inventories (159,118) (44,587) (78,511)
Security deposits and maintenance reserves (421,612) (173,778) (57,848)
Prepaid expenses (364,107) (25,089) (24,483)
Taxes recoverable 26,009 251,962 (15,718)
Advances to suppliers (120,266) 7,239 (23,908)
Other assets 79,201 265,479 (79,325)
Rights and obligations with derivatives (24,520) (257,021) (2,412)
Accounts payable 1,078,643 993,546 83,593
Accounts payable – supplier finance (1,356,689) (249,727) 86,949
Reimbursement to customers (63,507) 212,542 4,043
Salaries, wages and benefits 185,692 40,093 113,563
Insurance premiums payable 40,669 2,489 14,939
Taxes payable 66,719 4,212 (8,417)
Government installment payment program (7,399) (9,749) 27,326
Air traffic liability 574,944 394,618 421,802
Provision (395,361) (116,393) (93,718)
Airport fees 80,788 38,046 9,304
Other liabilities 439,957 212,463 (121,882)
Interest paid (624,535) (480,294) (969,061)
Income tax and social contribution paid 0 (304) (2,434)
Total changes in operating assets and liabilities (1,169,794) 1,476,842 (748,102)
Total changes in operating assets and liabilities (310,616) 976,230 2,594,637
Short-term investments      
Acquisition of short-term investments (98,788) (1,471,743) (1,451,616)
Redemption of short-term investments 189,470 1,513,613 1,816,862
Long-term investments      
Loans granted to third parties 0 0 51,028
Payment for acquisition of subsidiary (20,000) (38,713) 0
Proceeds from sale of property and equipment 0 45,670 59,381
Acquisition of intangible assets (152,542) (109,587) (132,454)
Acquisition of property and equipment (624,286) (343,073) (1,427,965)
Net cash provided by (used in) investing activities (706,146) (403,833) (1,186,820)
Loans and financing      
Proceeds 3,071,274 1,936,223 592,312
Repayment (390,985) (192,408) (174,304)
Payment of debt issuance costs (75,645) 0 0
Lease payment (1,799,815) (834,086) (1,372,701)
Proceeds from sale and leaseback 21,256 0 16,276
Advance for future capital increase 24,004 0 0
Capital increase 0 23,777 37,767
Treasury shares (16,198) 0 (12,853)
Net cash provided by (used in) financing activities 833,891 933,506 (913,503)
Exchange rate changes on cash and cash equivalents 191,855 (88,968) (15,570)
Net increase (decrease) in cash and cash equivalents 8,984 1,416,935 478,744
Cash and cash equivalents at the beginning of the year 3,064,815 1,647,880 1,169,136
Cash and cash equivalents at the end of the year R$ 3,073,799 R$ 3,064,815 R$ 1,647,880