Azul S.A. Files 6-K Report for Q2 2025

TL;DR

Azul S.A. filed its Q2 2025 6-K, confirming 20-F annual report filings.

AI Summary

Azul S.A. filed a Form 6-K on August 15, 2025, reporting for the period ending June 30, 2025. The filing is a report of a foreign private issuer and indicates that Azul S.A. files its annual reports under Form 20-F. The company's principal executive office is located in Barueri, São Paulo, Brazil.

Why It Matters

This filing provides an update on Azul S.A.'s regulatory reporting status and confirms its adherence to SEC filing requirements for foreign private issuers.

Risk Assessment

Risk Level: low — This is a routine periodic filing that does not contain new financial results or significant operational updates.

Key Players & Entities

• Azul S.A. (company) — Registrant
• 001-38049 (other) — Commission File Number
• 20250630 (date) — Conformed Period of Report
• 20250815 (date) — Filing Date

FAQ

Key Financial Figures

• $1.1 billion — Azul Reports 2Q Results with EBITDA of R$1.1 billion São Paulo, August 14, 2025 – A
• $4.9 b — ached a record for a second quarter at R$4.9 billion, increasing 18.4% year-over- year
• $38.53 — Unit revenue (RASK) remained strong at R$38.53 cents in 2Q25, even with capacity growi
• $35.57 — % of EBITDA. § CASK in 2Q25 was R$35.57 cents, 4.1% up compared to 2Q24, mainly
• $1,142.7 m — process. § 2Q25 EBITDA reached R$1,142.7 million, increasing 8.6% year-over-year,
• $380.0 m — g a 23.1% margin. Operating income was R$380.0 million, with a 7.7% margin. § Cas
• $3.3 b — in. § Cash plus receivables was R$3.3 billion, 30.7% higher compared to 2Q24, r
• $100 million — . In the quarter, Azul raised roughly US$100 million through a bridge financing in April and
• $250 million — ridge financing in April and accessed US$250 million of its US$1.6 billion DIP financing in
• $1.6 billion — il and accessed US$250 million of its US$1.6 billion DIP financing in May. In the quarter, A
• $4.9 b — rating revenue for a second quarter of R$4.9 billion, an increase of 18% over the same
• $35.70 — K remained strong at R$38.53 cents and R$35.70 cents respectively, even with capacity
• $1.1 b — BITDA grew 9% year-over-year, reaching R$1.1 billion, with a margin of 23%. We ended t
• $945 million — idity of R$3.3 billion, an increase of R$945 million compared to the previous quarter. This
• $2.0 billion — hout the process, elimination of over US$2.0 billion of debt, and further equity financing o

Filing Documents

• azulpr2q25_6k.htm (6-K) — 381KB
• image_001.jpg (GRAPHIC) — 3KB
• image_003.jpg (GRAPHIC) — 12KB
• 0001292814-25-003081.txt ( ) — 402KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of August, 2025 Commission File Number: 001-38049 Azul S.A. (Name of Registrant) Edifcio Jatob, 8th floor, Castelo Branco Office Park Avenida Marcos Penteado de Ulha Rodrigues, 939 Tambor, Barueri, So Paulo, SP 06460-040, Brazil. +55 (11) 4831 2880 (Address of Principal Executive Office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F x Form 40-F Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes No x Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes No x Second Quarter Results 2025 Azul Reports 2Q Results with EBITDA of R$1.1 billion São Paulo, August 14, 2025 – Azul S.A., "Azul" (B3:AZUL4, OTC:AZULQ), the largest airline in Brazil by number of cities served and departures, announces today its results for the second quarter of 2025 ("2Q25"). The following financial information, unless stated otherwise, is presented in Brazilian reais and in accordance with International Financial Reporting Standards (IFRS). Financial and Operating Highlights 2Q25 Highlights¹ 2Q25 2Q24 % 1H25 1H24 % Total operating revenue (R$ million) 4,942.3 4,172.7 18.4% 10,336.8 8,851.2 16.8% Operating income (R$ million) 380.0 441.2 -13.9% 950.5 1,241.9 -23.5% Operating margin (%) 7.7% 10.6% -2.9 p.p. 9.2% 14.0% -4.8 p.p. EBITDA (R$ million) 1,142.7 1,052.6 8.6% 2,528.5 2,467.8 2.5% EBITDA margin (%) 23.1% 25.2% -2.1 p.p. 24.5% 27.9% -3.4 p.p. ASK (million) 12,827 10,918 17.5% 25,630 21,996 16.5% RASK (R$ cents) 38.53 38.22 0.8% 40.33 40.24 0.2% PRASK (R$ cents) 35.70 35.34 1.0% 37.44 37.35 0.2% Yield (R$ cents) 43.78 44.03 -0.6% 45.93 46.93 -2.1% CASK (R$ cents) 35.57 34.18 4.1% 36.62 34.59 5.9% Fuel cost per liter (R$) 3.86 4.35 -11.3% 4.12 4.30 -4.2% ¹Operating results were adjusted for non-recurring items. § Operating revenue reached a record for a second quarter at R$4.9 billion, increasing 18.4% year-over- year, mainly driven by a recurring healthy demand environment, robust ancillary revenues and the notable performance of our business units. § During 2Q25, consolidated capacity measured in available seat-kilometers (ASK) grew 17.5% year-over- year, mostly driven by a 36.8% increase in our international operations and a 12.9% increase in our domestic capacity due to the recovery of our domestic operation, which was impacted in 2Q24 by the floods in the South of Brazil. In the quarter, Azul transported nearly 8.0 million passengers, an increase of 7.7% compared to the same period last year. Passenger traffic (RPK) during the quarter increased 19.3%, outpacing capacity and resulting in a robust load factor of 81.5%, 1.3 percentage points higher than in 2Q24. § Unit revenue (RASK) remained strong at R$38.53 cents in 2Q25, even with capacity growing 17.5% year-over-year. Another contributing factor to our revenues and margins is the growth in our business units, which in 2Q25 accounted for 22.5% of RASK and 37.5% of EBITDA. § CASK in 2Q25 was R$35.57 cents, 4.1% up compared to 2Q24, mainly due to an 8.7% average depreciation of the Brazilian real, 5.4% annual inflation, a 71% increase in legal claims related to irregular operations at the end of 2024 driven by OEM performance issues, and the growth of our fleet, which increased depreciation by 24.8% year-over-year, partially offset by several cost-reduction strategies related to productivity, an 11.3%reduction in fuel price, as well as lower fuel burn from the next-generation aircraft in our fleet. Also, 2Q24 expenses were benefited from OEM compensations for the revenue losses from irregular operations. In 2Q25, productivity measured in ASKs per FTE increased 20.5%, and fuel consumption per ASK dropped 3.0% year-over-year. Compared to 1Q25, CASK was down 5.6% mainly due to cost-reduction strategies already implemented as part of our restructuring process. § 2Q25 EBITDA reached R$1,142.7 million, increasing 8.6% year-over-year, representing a 23.1% margin. Operating income was R$380.0 million, with a 7.7% margin. § Cash plus receivables was R$3.3 billion, 30.7% higher compared to 2Q24, representing 15.7% of the last twelve months' revenues. In the quarter, Azul raised roughly US$100 million through a bridge financing in April and accessed US$250 million of its US$1.6 billion DIP financing in May. In the quarter, Azul also converted more than R$1.6 billion debt from its 2029 and 2030 Notes into equity. § Azul remains focused on improving the o

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