Azul S.A. Files 20-F/A Amendment for FY 2023

TL;DR

Azul S.A. updated its 2023 annual report (20-F/A) - check for new details.

AI Summary

Azul S.A. filed an amendment (20-F/A) to its annual report for the fiscal year ending December 31, 2023. The filing provides updated information and disclosures for the company, which operates in the air transportation sector. Key financial data and operational details are presented for the reporting period.

Why It Matters

This filing provides updated financial and operational information for Azul S.A., crucial for investors and analysts assessing the company's performance and outlook in the air transportation industry.

Risk Assessment

Risk Level: medium — As an airline, Azul S.A. is subject to inherent risks including economic downturns, fuel price volatility, and regulatory changes, which are typical for the industry.

Key Numbers

• 20231231 — Fiscal Year End (The reporting period covered by the 20-F/A amendment.)
• 20240524 — Filing Date (The date the 20-F/A amendment was filed with the SEC.)

Key Players & Entities

• Azul S.A. (company) — Filer of the 20-F/A amendment
• SALEB II PARTICIPACOES SA (company) — Former company name of Azul S.A.
• 001-38049 (company) — SEC File Number for Azul S.A.

FAQ

Key Financial Figures

• $17,227,728 thousand — r The Company's passenger revenue was R$17,227,728 thousand for the year ended December 31, 2023. P
• $576,245 thousand — the Company's estimate of breakage was R$576,245 thousand at December 31, 2023. Breakage is esti
• $1,874,958 thousand — s, net of the provision for loss, were R$1,874,958 thousand. Under the terms of certain agreements
• $21,327,848 — 023, the Company's negative equity was R$21,327,848 thousand, negative net working capital
• $9,704,733 thousand — sand, negative net working capital was R$9,704,733 thousand and loss for the year then ended was R$
• $2,380,456 thousand — d and loss for the year then ended was R$2,380,456 thousand. Management assessed its business plan
• $6,862,385 — , net of accumulated depreciation, was R$6,862,385 thousand, as disclosed in Note 16.2 to
• $14,909,157 — liabilities at December 31, 2023 were R$14,909,157 thousand, as disclosed in Notes 19.3, 1

Filing Documents

• azul-20231231.htm (20-F/A) — 4175KB
• exhibit121-certificationof.htm (EX-12.1) — 11KB
• exhibit122-certificationof.htm (EX-12.2) — 11KB
• exhibit131-certificationof.htm (EX-13.1) — 5KB
• exhibit132-certificationof.htm (EX-13.2) — 5KB
• azul-20231231_g1.jpg (GRAPHIC) — 4KB
• azul-20231231_g2.jpg (GRAPHIC) — 108KB
• 0001628280-24-025062.txt ( ) — 25726KB
• azul-20231231.xsd (EX-101.SCH) — 240KB
• azul-20231231_cal.xml (EX-101.CAL) — 114KB
• azul-20231231_def.xml (EX-101.DEF) — 931KB
• azul-20231231_lab.xml (EX-101.LAB) — 1591KB
• azul-20231231_pre.xml (EX-101.PRE) — 1278KB
• azul-20231231_htm.xml (XML) — 6235KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15 (d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court: Yes No Auditor Name: Ernst & Young Auditores Independentes S/S Ltda. Auditor Location: So Paulo, Brazil Firm ID: 1448 EXPLANATORY NOTE Azul S.A. (the " Company ") filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission (the " SEC ") which was accepted by the EDGAR filing system on May 15, 2024 with a filing date of May 16, 2024 (the " Original Filing "). This Amendment No. 1 on Form 20-F/A (this " Amendment ") is filed by the Company with the SEC due to processing errors that resulted in an incomplete filing of the Original Filing and before completion of formal review and sign-off procedures of Ernst & Young Auditores Independentes S/S Ltda. (" EY "). This Amendment amends Item 18 to correct the Report of Independent Registered Public Accounting Firm of EY appearing on pages F-7 and F-8 of the Original Filing by: (i) deleting from such report three paragraphs included under the sub-heading "Definition and Limitations of Internal Control Over Financial Reporting" commencing "The Company's management is responsible for maintaining effective internal control", and (ii) inserting, under the same sub-heading "Definition and Limitations of Internal Control Over Financial Reporting", the following paragraphs: " A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financ

FINANCIAL STATEMENTS

ITEM 18. FINANCIAL STATEMENTS See the Report of Independent Registered Public Accounting Firm of EY included herewith which replaces the corresponding Report of Independent Registered Public Accounting Firm of EY appearing on pages F-7 and F-8 of the Original Filing.

EXHIBITS

ITEM 19. EXHIBITS Exhibit Number Description 12.1 * Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 12.2 * Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 13.1 * Certification of the Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 13.2 * Certification of the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 101.INS* Inline XBRL Instance Document 101.SCH* Inline XBRL Taxonomy Extension Schema Document 101.CAL* Inline XBRL Taxonomy Extension Calculation Linkbase Document 101.DEF* Inline XBRL Taxonomy Extension Definition Linkbase Document 101.LAB* Inline XBRL Taxonomy Extension Label Linkbase Document 101.PRE* Inline XBRL Taxonomy Extension Presentation Linkbase Document 104.1* Cover Page Interactive Data File (formatted as Inline XBRL) * Filed herewith.

SIGNATURES

SIGNATURES The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and has duly caused and authorized the undersigned to sign this Amendment No. 1 to Annual Report on Form 20-F/A on its behalf. Azul S.A. By: /s/ John Peter Rodgerson Name: John Peter Rodgerson Title: Chief Executive Officer By: /s/ Alexandre Wagner Malfitani Name: Alexandre Wagner Malfitani Title: Chief Financial Officer and Investor Relations Officer Barueri/SP, Brazil May 23, 2024 Table of Contents Azul S.A. Consolidated Financial Statements December 31, 2023, 2022 and 2021 with Reports of Independent Registered Public Accounting Firm Azul S.A. Consolidated Financial Statements F-1 Table of Contents Index to Financial Statements Page Reports of Independent Registered Public Accounting Firm by Ernst & Young Auditores Independentes S/S Ltda. (PCAOB ID: 1448 ) F- 3 Consolidated Statements of Financial Position F- 9 Consolidated Statements of Operations F- 11 Consolidated Statements of Comprehensive Loss F- 12 Consolidated Statements of Changes in Equity F- 13 Consolidated Statements of Cash Flows F- 14 Notes to the Consolidated Financial Statements F- 15 F-2 Consolidated Financial Statements Azul S.A. Table of Contents | Index to Financial Statements Report of Independent Registered Public Accounting Firm To the Shareholders and the Board of Directors of Azul S.A. Opinion on the Financial Statements We have audited the accompanying consolidated statements of financial position of Azul S.A. (the Company) as of December 31, 2023 and 2022, the related consolidated statements of operations, comprehensive loss, changes in equity and cash flows for each of the three years in the period ended December 31, 2023, and the related notes (collectively referred to as the "consolidated financial statements"). In our opinion, the consolidated financial statements present fairly, in all material respects, the financia

View Full Filing

View this 20-F/A filing on SEC EDGAR