• Azul’s gross debt rose 5.7% quarter over quarter to BRL 22.64 billion in the third quarter of 2026.
• The increase primarily reflected a BRL 1.3 billion FNAC financing draw and higher lease liabilities from fleet additions.
• Total assets reached BRL 32.21 billion on September 30, up from BRL 30.78 billion on June 30.
• Cash and cash equivalents doubled to BRL 2.54 billion; accounts receivable fell 35.3% to BRL 1.55 billion.
• Immediate liquidity increased 11.8% to BRL 4.09 billion, while negative equity widened to BRL 5.65 billion from BRL 5.15 billion.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Azul SA published the original content used to generate this news brief on November 12, 2026, and is solely responsible for the information contained therein.