AZUL SA files 20-F

Azul S.A. reported a net profit of R$124.9 million for the fiscal year ended December 31, 2025, a significant turnaround from a R$9.15 billion loss in 2024, primarily driven by a comprehensive financial reorganization under Chapter 11 proceedings. The company successfully reduced its total funded debt by approximately US$1.1 billion and aircraft lease liabilities by nearly 40% upon emerging from Chapter 11 on February 20, 2026.