Azul gross debt rises 5.7% quarter-on-quarter to R$ 22.64 billion
AZUL•Azul’s gross debt rose 5.7% quarter-on-quarter to R$ 22.64 billion in the third quarter of 2026, primarily reflecting a R$ 1.3 billion FNAC financing draw and higher lease liabilities. Cash and cash equivalents doubled to R$ 2.54 billion, while negative equity widened to R$ 5.65 billion.
1. Debt and assets
Azul’s gross debt rose 5.7% quarter-on-quarter to R$ 22.64 billion in the third quarter of 2026. The increase primarily reflected a R$ 1.3 billion FNAC financing draw and higher lease liabilities from fleet additions. Total assets reached R$ 32.21 billion on September 30, up from R$ 30.78 billion on June 30.
2. Liquidity and equity
Cash and cash equivalents doubled to R$ 2.54 billion, while accounts receivable fell 35.3% to R$ 1.55 billion. Immediate liquidity increased 11.8% to R$ 4.09 billion, and negative equity widened to R$ 5.65 billion from R$ 5.15 billion.
