Infraero faces R$ 1.3 billion deficit over two years

The Brazilian state-owned airport operator Infraero has accumulated a deficit of R$ 1.315 billion over the 2024 and 2025 fiscal years. The Tribunal de Contas da União (TCU) has issued a warning regarding the company’s financial sustainability due to this deteriorating fiscal situation.

Primary losses rose from R$ 540 million in 2024 to R$ 775 million in 2025. This decline follows a reduction in the company's footprint caused by airport concessions; while Infraero managed 66 airports in 2011, it began 2026 with only 22 regional terminals, all of which are currently deficit-ridden.

The company’s only profitable asset is the Santos Dumont airport in Rio de Janeiro. However, technical projections from the TCU suggest that passenger limits at Santos Dumont could reduce Infraero’s operational results by R$ 983 million between 2026 and 2030. If these constraints remain, the state-owned entity may face increased reliance on the National Treasury, despite currently holding R$ 1.58 billion in reserves from extraordinary revenues.