Financial Statements — AZUL
Balance Sheet
(in billions BRL)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Cash & Equivalents | 0.99 | 1.21 | 1.90 | 0.67 | 3.07 | 3.06 | 1.65 |
| Inventory | 0.97 | 0.94 | 0.80 | 0.72 | 0.57 | 0.40 | 0.26 |
| Total Current Assets | 6.30 | 5.66 | 5.04 | 4.87 | 5.85 | 5.42 | 4.14 |
| Goodwill | -- | -- | -- | -- | -- | 0.81 | -- |
| Total Non-current Assets | 17.33 | 20.62 | 15.49 | 13.85 | 12.69 | 10.38 | 15.06 |
| Total Assets | 23.64 | 26.27 | 20.53 | 18.72 | 18.53 | 15.79 | 19.20 |
| Total Current Liabilities | 29.47 | 21.34 | 14.75 | 15.06 | 11.71 | 10.21 | 6.86 |
| Total Non-current Liabilities | 23.20 | 35.37 | 27.11 | 22.67 | 25.16 | 19.73 | 15.85 |
| Total Liabilities* | 52.68 | 56.71 | 41.86 | 37.73 | 36.87 | 29.94 | 22.72 |
| Retained Earnings | (34.69) | (34.82) | (25.67) | (23.29) | (22.56) | (18.35) | (7.52) |
| Total Stockholder Equity | (29.04) | (30.44) | (21.33) | (19.01) | (18.33) | (14.15) | (3.52) |
* Derived from reported values
Income Statement
(in billions BRL)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Total Revenue | 21.64 | 19.53 | 18.55 | 15.95 | 9.98 | 5.74 | 11.44 |
| Total Operating Expenses | 17.32 | 16.14 | 16.89 | 14.52 | 9.92 | 7.14 | 12.64 |
| Operating Income | 4.32 | 3.39 | 1.66 | 1.43 | 0.05 | (1.40) | (1.20) |
| Pretax Income | 0.12 | (9.19) | (2.34) | (0.72) | (4.21) | (11.08) | (2.54) |
| Tax Provision | 0.00 | (0.04) | 0.04 | 0.00 | 0.00 | (0.24) | (0.13) |
| Net Income | 0.12 | (9.15) | (2.38) | (0.72) | (4.21) | (10.83) | (2.40) |
Cash Flow Statement
(in billions BRL)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Operating Cash Flow | (1.23) | 2.79 | 3.44 | 2.44 | (0.31) | 0.98 | 2.59 |
| Investing Cash Flow | (0.57) | (1.57) | (0.87) | (0.64) | (0.71) | (0.40) | (1.19) |
| Financing Cash Flow | 1.71 | (1.92) | (1.39) | (4.20) | 0.83 | 0.93 | (0.91) |
