Azul has reported its preliminary October 2025 results to the US Bankruptcy Court for the Southern District of New York as part of its Chapter 11 process.
Total operating revenues were 1.9bn Brazilian reals ($355.3 million) for the month.
Adjusted EBITDA was 716.4 million reals ($134 million), with an adjusted operating margin of 37.7%. These results were adjusted for one-off items related to the restructuring process.
Operating income was 484.4 million reals ($90.6 million), with an operating margin of 25.5%.
As of the end of October, the airline had 1.85bn reals ($346 million) in cash, cash equivalents, and short-term investments.
The airline filed for Chapter 11 bankruptcy protection at the end of May this year, and its confirmation hearing for its restructuring plan is scheduled for December 11, 2025.