Azul (ADR) (AZUL)
Connects Brazilian regional cities through a mixed-fleet airline network.
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Generates most revenue from scheduled passenger flights in Brazil, supplemented by ancillary services, loyalty-point sales, cargo and travel packages. Its mixed fleet and hub network connect lower-density domestic routes with international service.
Operates scheduled passenger service across Brazil, linking smaller and underserved cities through hubs at Campinas/Viracopos, Belo Horizonte/Confins and Recife, while also flying internationally. Passenger tickets, ancillary services and loyalty-point sales form its revenue base; Azul Cargo, Azul Viagens, Azul Fidelidade and Azul Conecta extend the network into logistics, travel packages, rewards and subregional routes.
Matches aircraft size to route density through a fleet spanning regional turboprops and jets to Airbus narrowbody and widebody aircraft, using domestic connectivity to feed hub and selected international services. Operations depend on Brazilian aviation authorizations, airport slots and permits, aircraft and engine suppliers, fuel supply, leased facilities and partner-provided international and loyalty access.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 9, 2026 | Deutsche Bank | Target | Target: — | Target: $11 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $247.9M · Total debt $4.18B · Total assets $6.01B · Shareholders' equity −$1.01B
- Revenue
- $996.2M
- Operating income
- −$58.6M
- Net income
- −$280.3M
Reported in BRL, converted at the latest exchange rate
HistoryDividend
| Institutions | 0.16% | 162.1K ADS | |
|---|---|---|---|
| 11 holders · as of Jun 30, 2025 | |||
| Other | 99.84% | 103.75M ADS | |
| remainder | |||
103.92M ADS as of Aug 23, 2026 · institutions as of Jun 30, 2025 · holders as of their latest filing
The share count is from the company's Dec 2022 annual report; nothing newer is on file here.
The share count has not been confirmed by a second filing; stakes use it as it stands.
Some positions are filed in underlying shares, not receipts; the ratio is unknown, so no percentage.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Marshall Wace, LLPInstitution | 0.11% | 1.16M ADS | as of Jun 30, 2025 |
Jane Street Group, LLCInstitution | 0.03% | 279,216 ADS | as of Jun 30, 2025 |
Vanguard Personalized Indexing Management, LLCInstitution | 0.01% | 111,454 ADS | as of Jun 30, 2025 |
Caption Management, LLCInstitution | 0.01% | 53,653 ADS | as of Jun 30, 2025 |
Baader Bank AktiengesellschaftInstitution | 0.00% | 11,014 ADS | as of Jun 30, 2025 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- LATAM Airlines Group (ADR)
Main domestic rival across Brazil's trunk routes and airline loyalty.
- Copa
Panama-hub Americas itineraries overlap from Brazil's major gateways.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Azul (ADR) | $6.66 | +0.08% | $691.0M | 0.6 | — | 0.2 | +6.4% |
| LATAM Airlines Group (ADR) | $53.29 | −0.04% | $15.31B | 10.3 | 9.0 | 1.0 | +28.5% |
| Copa | $135.11 | −1.46% | $5.65B | 9.0 | 7.7 | 1.4 | +25.7% |
| Median | 9.6 | 8.3 | 1.2 | +27.1% |