Azul has reported preliminary December 2025 financial results to the US Bankruptcy Court for the Southern District on New York yesterday (February 23).
The airline reported 2.1bn Brazilian reals ($405.8 million) in operating revenues. Adjusted EBITDA was 801.9 million reals ($155 million), with an adjusted EBITDA margin of 38.5%.
Operating income totalled 546.4 million reals ($105.6 million) and an operating margin of 26.2%.
The monthly report is part of its voluntary Chapter 11 process.
The airline announced on Friday last week it has exited its Chapter 11 proceedings, following a nine-month restructuring process.
The carrier raised $850 million in new equity. This included $100 million from its codeshare and loyalty partner United Airlines. American Airline has also agreed to invest $100 million into the airline, pending approval.
The airline cut around $2.5bn in debt and lease obligations, including $1.1bn reduction in loans and financing and a nearly 40% reduction in aircraft lease debt.
The court had previously approved the Brazilian airline's restructuring plan in December 2025.