Exhibit 8.1
Subsidiaries of Azul S.A.
The following chart lists each of our subsidiaries which we owned, directly or indirectly, as of December 31, 2019:
Entities | Country of incorporation | |
Azul Linhas Aéreas Brasileiras S.A. (ALAB) | Brazil | |
Azul Finance LLC(a) | United States | |
Azul Finance 2 LLC(a) | United States | |
Blue Sabiá LLC(a) | United States | |
ATS Viagens e Turismo Ltda.(a) | Brazil | |
Azul SOL LLC(a) | United States | |
Azul Investments LLP(a) | United States | |
Fundo Garoupa(b) | Brazil | |
Fundo Safira(a) | Brazil | |
Canela Investments LLC (Canela)(a)(c) | United States | |
Canela 407 LLC(d) | United States | |
Canela 429 LLC(d) | United States | |
Canela Turbo Three LLC(d) | United States | |
Daraland S.A.(a) | Uruguay | |
Encenta S.A. (Azul Uruguay)(e) | Uruguay | |
Global AzulAir Projects, SGPS, S.A. (Global)(a) | Portugal | |
Atlantic Gateway, SGPS, Lda.(f) | Portugal | |
Tudo Azul S.A. | Brazil | |
Cruzeiro Participações S.A.(a) | Brazil |
| (a) | Azul’s investments are held indirectly through ALAB. |
| (b) | Azul’s investment is held 4% directly and 96% through ALAB. |
| (c) | Transfer of ownership from Azul to ALAB on December 1, 2017. |
| (d) | ALAB’s investments are held indirectly through Canela. |
| (e) | ALAB’s investments are held indirectly through Daraland. |
| (f) | ALAB’s investments are held indirectly through Global. |
