# Azul SA: Form 20-F for the period ended Dec 31, 2025

- Company: [Azul SA](/companies/azul.md) (CIK 1432364)
- Form: 20-F
- Filed: 2026-04-03
- Accepted by EDGAR: Apr 2, 2026, 19:15 ET
- Period: 2025-12-31
- Accession: 0001628280-26-023423
- Inline XBRL: yes
- Main document: https://www.sec.gov/Archives/edgar/data/1432364/000162828026023423/azul-20251231.htm
- All documents and exhibits: https://www.sec.gov/Archives/edgar/data/1432364/000162828026023423/

## Figures reported in this filing

Standardized XBRL line items for the period ended 2025-12-31.

| Line item | Period | Value | XBRL concept |
| --- | --- | ---: | --- |
| Revenue | 12 months, 2025-01-01 to 2025-12-31 | BRL 21.64bn | ifrs-full:Revenue |
| Operating income | 12 months, 2025-01-01 to 2025-12-31 | BRL 4.32bn | ifrs-full:ProfitLossFromOperatingActivities |
| Income tax | 12 months, 2025-01-01 to 2025-12-31 | BRL 12.0k | ifrs-full:IncomeTaxExpenseContinuingOperations |
| Net income | 12 months, 2025-01-01 to 2025-12-31 | BRL 124.9m | ifrs-full:ProfitLoss |
| Operating cash flow | 12 months, 2025-01-01 to 2025-12-31 | −BRL 1.23bn | ifrs-full:CashFlowsFromUsedInOperatingActivities |
| Capital expenditure | 12 months, 2025-01-01 to 2025-12-31 | BRL 198.4m | ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities |
| Cash and equivalents | at 2025-12-31 | BRL 991.6m | ifrs-full:CashAndCashEquivalents |
| Current assets | at 2025-12-31 | BRL 6.30bn | ifrs-full:CurrentAssets |
| Total assets | at 2025-12-31 | BRL 23.64bn | ifrs-full:Assets |
| Current liabilities | at 2025-12-31 | BRL 29.47bn | ifrs-full:CurrentLiabilities |
| Shareholders' equity | at 2025-12-31 | −BRL 29.04bn | ifrs-full:Equity |

## Sections

Sections are extracted only from 10-K and 10-Q reports. Read this filing’s documents on sec.gov. https://www.sec.gov/Archives/edgar/data/1432364/000162828026023423/azul-20251231.htm

Filed Apr 3, 2026.
Source: SEC EDGAR, the filing index for accession 0001628280-26-023423. Last ingested by Listed: Oct 30, 2026, 17:18 ET. No prices; not investment advice.