Azul (AZUL) 20-F 30 Apr 21 2020 FY Annual report (foreign) Financial data

Cover Page

Cover Page	12 Months Ended
	Dec. 31, 2020shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-38049
Entity Registrant Name	AZUL SA
Entity Central Index Key	0001432364
Entity Incorporation, State or Country Code	D5
Entity Address, Address Line One	Edifício Jatobá, 8th floor, Castelo Branco Office ParkAvenida Marcos Penteado de Ulhôa Rodrigues, 939
Entity Address, City or Town	Barueri
Entity Address, Postal Zip Code	06460-040
Entity Address, Country	BR
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	Edifício Jatobá, 8th floor, Castelo Branco Office ParkAvenida Marcos Penteado de Ulhôa Rodrigues, 939
Entity Address, City or Town	Barueri
Entity Address, Postal Zip Code	06460-040
Entity Address, Country	BR
Contact Personnel Name	Alexandre Wagner Malfitani
Contact Personnel Email Address	alex.malfitani@voeazul.com.br
Common Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	928,965,058
Preference Shares
Document Information [Line Items]
Title of 12(b) Security	Preferred Shares
No Trading Symbol Flag	true
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	331,644,724
American Depositary Shares
Document Information [Line Items]
Title of 12(b) Security	American Depositary Shares (as evidenced by American Depositary Receipts), each representing three Preferred Shares
Trading Symbol	AZUL
Security Exchange Name	NYSE

Consolidated statements of fina

Consolidated statements of financial position - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	R$ 3064815	R$ 1647880
Short-term investments	91,819	62,009
Accounts receivable	875,382	1,165,866
Aircraft sublease receivables	123,455	75,052
Inventories	402,587	260,865
Assets held for sale	0	51,850
Security deposits and maintenance reserves	318,460	258,212
Taxes recoverable	133,706	139,668
Derivative financial instruments	79,216	168,148
Prepaid expenses	136,350	139,403
Other current assets	191,633	169,778
Total current assets	5,417,423	4,138,731
Non-current assets
Long-term investments	854,462	1,397,699
Aircraft sublease receivables	189,482	204,452
Security deposits and maintenance reserves	1,235,582	1,393,321
Derivative financial instruments	349,093	657,776
Taxes recoverable	0	244,601
Prepaid expenses	18,192	22,216
Other non-current assets	149,508	497,567
Property and equipment and right of use	6,410,447	9,553,643
Intangible assets	1,170,268	1,087,484
Total non-current assets	10,377,034	15,058,759
Total assets	15,794,457	19,197,490
Current liabilities
Loans and financing	858,332	481,227
Lease liabilities	2,272,349	1,585,233
Accounts payable	2,238,668	1,376,850
Accounts payable – supplier finance	157,801	249,727
Air traffic liability	2,488,872	2,094,254
Reimbursement to customers	221,342	0
Salaries, wages and benefits	400,371	357,571
Insurance premiums payable	52,427	49,938
Taxes payable	55,260	49,060
Federal tax installment payment program	13,358	13,480
Derivative financial instruments	173,769	81,196
Provisions	853,810	323,441
Other current liabilities	426,272	200,043
Total current liabilities	10,212,631	6,862,020
Non-current liabilities
Loans and financing	6,502,182	3,036,929
Lease liabilities	10,248,463	10,521,388
Accounts payable	323,059	0
Derivative financial instruments	247,265	228,994
Deferred income tax and social contribution	0	242,516
Federal tax installment payment program	108,519	119,300
Provisions	1,988,665	1,489,911
Other non-current liabilities	312,423	215,606
Total non-current liabilities	19,730,576	15,854,644
Equity
Issued capital	2,246,367	2,243,215
Advance for future capital increase	20,625	0
Capital reserve	1,947,887	1,928,830
Treasury shares	(13,182)	(15,565)
Other comprehensive income	655	(159,261)
Accumulated losses	(18,351,102)	(7,516,393)
Total equity	(14,148,750)	(3,519,174)
Total liabilities and equity	R$ 15794457	R$ 19197490

Consolidated statements of net

Consolidated statements of net income (loss) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating revenue
Passenger revenue	R$ 5039607	R$ 10907889	R$ 8670132
Cargo and other revenue	704,519	534,428	386,932
Net revenue	5,744,126	11,442,317	9,057,064
Operating expenses
Aircraft fuel	(1,508,750)	(3,085,603)	(2,644,261)
Salaries, wages and benefits	(1,426,637)	(1,868,402)	(1,413,017)
Landing fees	(465,606)	(724,971)	(592,100)
Traffic and customer servicing	(288,327)	(476,481)	(395,394)
Sales and marketing	(329,829)	(444,079)	(368,663)
Maintenance materials and repairs	(464,566)	(354,105)	(250,105)
Depreciation, Amortization and Impairment	(1,805,553)	(1,622,352)	(1,284,050)
Impairment	757,554	(2,897,333)	0
Other operating expenses, net	(1,611,493)	(1,164,391)	(915,850)
Total operating expenses	(7,143,207)	(12,637,717)	(7,863,440)
Operating profit (loss)	(1,399,081)	(1,195,400)	1,193,624
Financial result
Financial income	60,298	72,071	74,522
Financial expenses	(3,269,941)	(1,329,524)	(1,094,828)
Derivative financial instruments	(1,452,116)	325,452	298,094
Foreign currency exchange, net	(4,302,540)	(391,905)	(1,306,063)
Financial result	(8,964,299)	(1,323,906)	(2,028,275)
Result from related party transactions, net	(713,834)	(16,959)	381,725
Loss before income tax and social contribution	(11,077,214)	(2,536,265)	(452,926)
Current income tax and social contribution	(11)	(2,228)	(11,224)
Deferred income tax and social contribution	242,516	135,407	(171,581)
Loss for the year	R$ 10834709	R$ 2403086	R$ 635731
Common Shares
Earnings per share [line items]
Basic net income (loss) per share	R$ 0.42	R$ 0.09	R$ 0.03
Diluted net income (loss) per share	(0.42)	(0.09)	(0.03)
Preference Shares
Earnings per share [line items]
Basic net income (loss) per share	(31.67)	(7.05)	(1.88)
Diluted net income (loss) per share	R$ 31.67	R$ 7.05	R$ 1.88

Consolidated statements of othe

Consolidated statements of other comprehensive income (loss) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of comprehensive income [abstract]
Loss for the year	R$ 10834709	R$ 2403086	R$ 635731
Other comprehensive income that may be reclassified to profit or loss in subsequent years:
Cash flows hedges	159,261	(5,292)	(139,281)
Post-employment benefit	655	0	0
Total comprehensive income for the year	R$ 10674793	R$ 2408378	R$ 775012

Consolidated statements of chan

Consolidated statements of changes in equity - BRL (R$) R$ in Thousands	Total	Issued capital	Advance for future capital increase	Treasury shares	Capital reserve	Other comprehensive income	Accumulated losses
Beginning balance at Dec. 31, 2017	R$ 432706	R$ 2163377		R$ 2745	R$ 1898926	R$ 14688	R$ 4477576
Loss for the year	(635,731)						(635,731)
Post-employment benefit	0
Cash flows hedges	(139,281)					(139,281)
Total comprehensive loss	(775,012)					(139,281)	(635,731)
Share buyback	(12,179)			(12,179)
Share-based payment	69,859	46,038		4,374	19,447
Ending balance at Dec. 31, 2018	(1,150,038)	2,209,415		(10,550)	1,918,373	(153,969)	(5,113,307)
Loss for the year	(2,403,086)						(2,403,086)
Post-employment benefit	0
Cash flows hedges	(5,292)					(5,292)
Total comprehensive loss	(2,408,378)					(5,292)	(2,403,086)
Share buyback	(12,853)			(12,853)
Share-based payment	52,095	33,800		7,838	10,457
Ending balance at Dec. 31, 2019	(3,519,174)	2,243,215		(15,565)	1,928,830	(159,261)	(7,516,393)
Loss for the year	(10,834,709)						(10,834,709)
Post-employment benefit	655					655
Cash flows hedges	159,261					159,261
Total comprehensive loss	(10,674,793)					159,916	(10,834,709)
Share-based payment	45,217	3,152	R$ 20625	2,383	19,057
Ending balance at Dec. 31, 2020	R$ 14148750	R$ 2246367	R$ 20625	R$ 13182	R$ 1947887	R$ 655	R$ 18351102

Consolidated statements of cash

Consolidated statements of cash flows - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Loss for the year	R$ 10834709	R$ 2403086	R$ 635731
Reconciliation of non-cash items
Depreciation and amortization	1,805,553	1,622,352	1,284,050
Impairment of assets and onerous liabilities	(757,554)	2,897,333	0
Unrealized derivative results	2,207,470	(367,753)	(298,799)
Share-based payment	22,909	17,239	17,851
Exchange differences, net	4,040,946	448,901	1,243,882
Interest (income) expenses on assets and liabilities	2,166,133	1,082,256	866,895
Related parties	687,531	(3,241)	76,949
Deferred income tax and social contribution	(242,516)	(135,407)	171,581
Provision for loss on maintenance reverses	419,843	8,417	31,132
Provisions	281,479	68,814	78,866
Sale and Leaseback	(16,224)	0	0
Result from modification of lease contracts	(902,888)	0	0
Proceeds from sale and/or disposal of property and equipment and intangible assets	621,415	106,914	246,069
Net adjusted profit (loss)	(500,612)	3,342,739	3,082,745
Change in operating assets and liabilities
Accounts receivable	341,759	(98,803)	(160,427)
Aircraft sublease receivables	69,336	66,899	4,854
Inventories	(44,587)	(78,511)	(53,011)
Security deposits and maintenance reserves	(173,778)	(57,848)	(96,162)
Prepaid expenses	(25,089)	(24,483)	(50,475)
Taxes recoverable	251,962	(15,718)	(170,950)
Other assets	272,718	(103,233)	(210,302)
Rights and obligations with derivatives	(257,021)	(2,412)	(373,831)
Accounts payable	993,546	83,593	245,785
Accounts payable – supplier finance	(249,727)	86,949	162,778
Reimbursement to customers	212,542	4,043	2,232
Salaries, wages and benefits	40,093	113,563	(2,328)
Insurance premiums payable	2,489	14,939	10,588
Taxes payable	4,212	(8,417)	12,581
Federal installment payment program	(9,749)	27,326	(8,722)
Air traffic liability	394,618	421,802	320,178
Provision for tax, civil and labor risks	(116,393)	(93,718)	(62,653)
Other liabilities	250,509	(112,578)	(42,680)
Interest paid	(480,294)	(969,061)	(845,297)
Income tax and social contribution paid	(304)	(2,434)	0
Net cash provided by (used in) operating activities	976,230	2,594,637	1,764,903
Short-term investments
Acquisition of short-term investments	(1,471,743)	(1,451,616)	(2,843,002)
Disposal of short-term investments	1,513,613	1,816,862	3,387,015
Long-term investment
Loans granted to third parties	0	(51,028)	0
Acquisition of subsidiary, net of cash acquired	(38,713)	0	0
Restricted investments	0	0	5,635
Proceeds from sale of property and equipment	45,670	59,381	363,157
Acquisition of intangible assets	(109,587)	(132,454)	(100,204)
Acquisition of property and equipment	(343,073)	(1,427,965)	(1,086,442)
Net cash provided by (used in) investing activities	(403,833)	(1,186,820)	(273,841)
Loans and financing
Proceeds	1,936,223	592,312	798,940
Repayment	(192,408)	(174,304)	(915,329)
Lease payment	(834,086)	(1,372,701)	(1,082,239)
Proceeds from sale and leaseback	0	16,276	11,889
Capital increase due to exercise of stock options	23,777	37,767	47,634
Treasury shares	0	(12,853)	(12,179)
Net cash provided by (used in) financing activities	933,506	(913,503)	(1,151,284)
Exchange rate changes on cash and cash equivalents	(88,968)	(15,570)	67,039
Net increase (decrease) in cash and cash equivalents	1,416,935	478,744	406,817
Cash and cash equivalents at beginning of the year	1,647,880	1,169,136	762,319
Cash and equivalents at end of the year	R$ 3064815	R$ 1647880	R$ 1169136

Operations

Operations	12 Months Ended
	Dec. 31, 2020
Disclosure of joint operations [abstract]
Operations	OPERATIONS Azul S.A. (“Azul” or “Company”) is a corporation governed by its bylaws, by Law No. 6,404/76 and by the corporate governance level 2 listing regulation of B3 S.A. – Brasil, Bolsa, Balcão (“B3”). The Company was incorporated on January 3, 2008, and its core business comprises the operation of regular and non-regular airline passenger services, cargo or mail, passenger charter, provision of maintenance and hangarage services for aircraft, engines, parts and pieces, aircraft acquisition and lease, development of frequent-flyer programs, development of related activities and equity holding in other companies. The Company carries out its activities through its subsidiaries, mainly Azul Linhas Aéreas Brasileiras S.A. (“ALAB”), which holds authorization from regulatory agencies to operate as an airline. The Company’s shares are traded on B3 and on the New York Stock Exchange (“NYSE”) under tickers AZUL4 and AZUL, respectively. The Company is headquartered at Avenida Marcos Penteado de Ulhôa Rodrigues, 939, 9º andar, in the city of Barueri, state of São Paulo, Brazil. 1.1 Shareholding structure The Company’s shareholding structure at December 31, 2020 is as follows: The Company’s shareholding structure and operating activities in which its subsidiaries are engaged at December 31, 2020 and 2019 and changes for the year are as follows: % equity interest December 31, Company Type of investment Main activity Country 2020 2019 TudoAzul S.A. Direct Loyalty programs Brazil 100.00 % 100.00 % Azul Linhas Aéreas Brasileiras S.A. (ALAB) Direct Airline operations Brazil 100.00 % 100.00 % TwoTaxi Aéreo Ltda. (Azul Conecta) (a) Indirect Airline operations Brazil 100.00 % — ATS Viagens e Turismo Ltda. Indirect Package holidays Brazil 99.90 % 99.90 % Fundo Garoupa (b) Indirect Exclusive investment fund Brazil — 100.00 % Fundo Safira Indirect Exclusive investment fund Brazil 100.00 % 100.00 % Cruzeiro Participações S.A Indirect Holding of equity interests in other companies Brazil 99.90 % 99.90 % Azul Investments LLP Indirect Funding USA 100.00 % 100.00 % Azul SOL LLC Indirect Aircraft financing USA 100.00 % 100.00 % Azul Finance LLC Indirect Aircraft financing USA 100.00 % 100.00 % Azul Finance 2 LLC Indirect Aircraft financing USA 100.00 % 100.00 % Blue Sabiá LLC Indirect Aircraft financing USA 100.00 % 100.00 % Canela Investments LLC (Canela) Indirect Aircraft financing USA 100.00 % 100.00 % Canela 407 LLC ( c) Indirect Aircraft financing USA — 100.00 % Canela 429 LLC ( c) Indirect Aircraft financing USA — 100.00 % Canela Turbo Three LLC Indirect Aircraft financing USA 100.00 % 100.00 % Global AzulAirProjects, SGPS, S.A. Indirect Equity holoding in other companies Portugal — 45.45 % Daraland S.A. (e) Indirect Holding Uruguay — 100.00 % Encenta S.A. (Azul Uruguai) (e) Indirect Airline operations Uruguay — 100.00 % Azul Saíra LLC (f) Indirect Aircraft financing USA 100.00 % — (a) Subsidiary acquired on May 14, 2020 (see Note 2). (b) Investment fund closed in January 2020. (c) Subsidiaries closed in August 2020. (d) Divestiture in October 2020. (e) Subsidiary closed in December 2020. (f) Subsidiary established on December 7, 2020. On December 7, 2020, the wholly-owned subsidiary of subsidiary ALAB, Azul Saíra, which is a co-lessor in the sublease contract entered with Breeze Airways, was established as detailed in Note 22.6. 1.2. Impacts of the COVID-19 pandemic The beginning of 2020 brought a favorable environment to the Company with a good performance of sales and revenues, announcement of the new route to New York, and win of new key customers in the cargo transport. However, beginning March 11, 2020, when the World Health Organization (“WHO”) classified the COVID-19 disease as a “public health emergency of international concern” and declared it a pandemic, a sharp rupture was noted in the global economic activity, unleashing an unprecedented economic crisis. The speed of spread and contagion of the disease has caused countries around the world, including Brazil, to adopt measures to recommend social distancing, travel restrictions and the closure of borders. As a consequence, the airline industry was one of the first and hardest hit in its operations and results. In order to face this absolutely challenging scenario, the Company, through its Executive Committee, started to monitor and establish operational and financial strategies to go through this period of crisis until the resumption of operations. The communication of these strategies was made in detail to the public through documents, whether Material News Release or Statements to the Market. The main actions include the following: 1.2.1 Resizing of the airline network One of the first and most important actions taken by Management in response to the economic crisis unleashed by the COVID-19 pandemic was the resizing of its airline network, with reductions in capacity that reached its peak in April 2020. At this moment, the volume of ASKs offered in the domestic market accounted for only 13% of the volume of the same period of 2019, represented by approximately 70 daily flights, and in turn the demand reduced to 11% of the total of the previous year. Since the beginning of the pandemic, Management has monitored the resumption of demand and managed the offer of flights, reaching in December 2020, in the domestic market, 93% of the volume of ASKs offered in the domestic market in the same period of 2019, while demand corresponded to 91%. According to data from FlightRadar24 , Brazil is one of the countries with the highest speed of recovery in the domestic commercial aviation market. During the year, the recovery of demand and supply in the domestic market compared to 2019 developed as shown graphically below: Source: ANAC The Company's Management continuously monitors all developments related to the COVID-19 pandemic, and will continue to make adjustments to the flight offer, if necessary, prioritizing above all the health and safety of all its crew and customers. 1.2.2 Cost reductions During the year, the Company adopted several measures to reduce its fixed and variable costs, among which the following stand out: • Suspension of hiring new crew members in the period between March and August 2020; • Launch of an unpaid leave program, with the adhesion of more than 10,000 crew members, for periods between 30 and 120 days; • Reduction of 50% to 100% in salaries for executive committee members and directors and of 25% for managers for the period between March and July 2020; • Reduction of salary expenses by 65% in the period between March and August 2020, due to adherence to Provisional Executive Order 936/20; and • Collective labor agreement to reduce the working hours of pilots and flight attendants for 18 months, starting in June 2020, ended at the end of 2020, due to the speed of resumption of operations in the domestic market. 1.2.3 Strengthening of cash and liquidity Throughout the year, with the evolution of the pandemic, Management acted to preserve the liquidity in face of the crisis, establishing new agreements with suppliers, bank creditors and lessors, as well as accessing the capital market through issuance of debentures, as highlighted below: • Postponement of payment of the profit sharing of 2019; • Negotiation of new payment conditions with suppliers for cash preservation; • Suspension of business travels and discretionary expenses; • Negotiation to reduce aircraft parking fees; • Agreement for postponement the delivery of 59 aircraft model E2; • Agreement with lessors resulting in a reduction of approximately 77% of the cash outflow for the period between April and December 2020, offset by slightly higher amounts from 2023 and extension of the contractual terms. As from such renegotiations, in accordance with the requirements of IFRS 16 – Leases, these contracts were remeasured and the lease liabilities reduced by R$5,701,928 (see Note 17); • Renegotiation of the conditions and maturities of debentures and obligations of FINAME; and • Issuance of debentures convertible into shares in the amount of R$1,745,900 with maturity in 5 years and interest of 7.5% in the first year and 6.0% from the second year, with semiannual settlements. 1.2.4 Support from government and regulators Since the beginning of the pandemic, state and federal governments and regulators took certain actions in support of airline companies. Among these actions, the following stand out: • Enactment of Provisional Executive Order No. 925/20, converted into Law No. 14,034/20, which extended the period for rebooking trips to a period of up to 18 months, as well as extended to 12 months, counted from the flight cancellation date, deadline for repayment; • Change in the deadline for payment of navigation and airport fees; • Granting of a waiver for canceling slots using the regularity index, in line with a similar decision with other civil aviation organizations and authorities; and • Extension by 120 days to renew the qualifications of the technical crew. 1.2.5 Support to the society and care with crew and customers • Free transportation of health professionals; • Maximizing the use of the Tapete Azul to avoid agglomerations on boarding; • Landing organized by rows to avoid crowds within the aircraft; • Use of a mask by all our crew and daily check of body temperature; • Distribution of hand sanitizer to our customers; • Implementation of Honeywell's ultraviolet ray cleaning system in our aircraft; and • Free transport of vaccines to the cities where we operate. 1.2.6 COVID-19 impacts on the consolidated financial statements Taking into consideration the economic scenario and the risks and uncertainties from the impacts of the economic and sanitary crisis unleashed by the COVID-19 pandemic, the following adjustments were recorded during the year: Description of adjustments December 31, 2020 Decrease in lease liabilities (a) 5,701,928 Write-off of right of use (leased property and equipment) (a) (4,799,040) Loss on fair value of conversion right – TAP Bond (b) (637,639) Interest expense on reimbursement to customers (c) (8,800) Effect on profit for the year 256,449 Reclassifications December 31, 2020 Airline traffic liability (c) (212,542) Obligations with reimbursement to customers (c) 212,542 (a) During the year, the Company renegotiated 96% of the aircraft and engine lease contracts. Such renegotiations included the deferral of payments and changes in contractual terms, and as a consequence, it was necessary to apply the requirements for contractual modification contained in IFRS 16 – Leases, which resulted in the reduction of the lease liability and the right-of-use assets, the difference was recognized in the statements of operations for the year. (b) On August 10, 2020, as informed at the Extraordinary General Meeting, due to the crisis caused by the COVID-19 pandemic, the Portugal Government's negotiated an aid of €1.2 billion for the airline TAP with the European Commission, conditional upon, among other factors, eliminating the right to convert senior bonds, since they would not be diluted by the Portugal Government's financial contribution. As a consequence, the elimination of the conversion right resulted in a loss recognized in the consolidated statement of operations of R$637,639, recorded under “Result from related party transactions, net”; and (c) The amounts corresponding to customer reimbursement obligations, provided for in Law No. 14,034/20, resulting from flight cancellation, were reclassified to the line item of reimbursement to customers, in current liabilities, and subsequently adjusted by the National Consumer Price Index (“INPC”). 1.3. Capital structure and net working capital At December 31, 2020, the Company had a negative equity position of R$14,148,750 (R$3,519,174 at December 31, 2019). The variation in the balance is mainly due to the following factors: • Strong reduction in demand for airline tickets as a result of the COVID-19 pandemic; • Devaluation of 28.9% of the real against the U.S. dollar, in the year ended December 31, 2020, from R$4.0307 to R$5.1967, which significantly impacted the Company's result through the foreign currency exchange, net expense in the amount of R$4,302,540, recorded in the financial result, and increased fuel, maintenance and interest costs with lease arrangements indexed to foreign currency; and • Increase in financial expenses due to the issuance of convertible debentures, which, due to the appreciation of the Company's shares, generated an unrealized mark-to-market expenses in connection to the conversion right of R$755,354. In turn, consolidated net current liabilities increased by R$2,071,919, reaching a negative position of R$4,795,208 at December 31, 2020 (R$2,723,289 at December 31, 2019). The variation in the balance is related to the following factors: • Significant reduction in the position of accounts receivable due to the social distancing behavior adopted by our customers during the COVID-19 pandemic; • Increase in obligations to suppliers due mainly to the negotiations carried out by the Company during the crisis; and • Significant increase in lease obligations, loans, provisions for redelivery and onerous contracts, also impacted by the 28.9% devaluation of the real against the U.S. dollar. The Company's management has taken several actions to obtain additional sources of liquidity, together with measures to contain non-essential operating expenses and cash outflows. Such actions have proven to be efficient to withstand the economic slowdown presented due to the COVID-19 pandemic. Among them, the following stand out: the deferral through the renegotiation of 96% of the contracts that represents lease obligations, renegotiation of financial debts such as debentures and obligations with derivatives and, finally, on November 12, 2020, the Company concluded the process of issuing convertible debentures, raising a total of R$1,745,900, increasing the liquidity and expanding the business, as detailed in Note 16. Management continuously monitors the effects of the crisis and will continue to adopt measures to strengthen its cash position. Management also evaluated and concluded that the Company is in a position to continue its operations and comply with its obligations, according to the contracted maturities. This assessment is based on the Company's business plan, approved by the Board of Directors on December 10, 2020, which in turn includes planned future actions, macroeconomic and aviation sector assumptions, such as growth in gross domestic product, exchange rate and fuel price estimation. Based on this conclusion, these financial statements were prepared based on the principle of going concern. 1.4. Acceleration of fleet transformation In the last quarter of 2019, the Company’s management approved the Embraer E195 phase-out plan (“E1”). The objective of the plan was to accelerate the replacement of its entire domestic E2 fleet, allowing the transport of a greater number of passengers with lower operating cost and less environmental impact, especially due to less fuel consumption. On the same date, the Company entered into agreements with the intention to sub-lease the E1 aircraft to other airlines operators. The change in the intended use of the aircraft triggered an impairment review that resulted in the recognition of impairment of these assets of R$2,075,582 and the constitution of an onerous liability of R$821,751 at that time. The COVID-19 pandemic triggered the postponement of aircraft delivery plans to sub-lessors. It should be noted that the signed letters of intent are still valid. In December 2020, the first aircraft was delivered according to the sublease agreement signed with Breeze Airways, and others units are scheduled to be delivered in 2021. At December 31, 2020, in the impairment calculation there are 51 aircraft and 4 engines (54 aircraft and 4 engines at December 31, 2019) and considering the updating of the Company's macroeconomic assumptions and business plans, the changes in the provision and the corresponding accounting balances are shown below: The main assumptions used in the analysis included: • Sublease revenue; • Delivery and maintenance costs; • residual value for own aircraft and under finance lease at the end of sublease contracts; • Exchange rate; • Pre-tax discount rate 1.4.1 Breakdown of balances of provision for impairment and onerous liability December 31, Description 2020 2019 Provision for impairment of ROU (706,614) (1,351,431) Provision for impairment of aircraft and engines (211,062) (171,050) Provision for impairment of rotables (225,797) (509,725) Provision for impairment of inventories (18,334) (14,784) Provision for impairment of other assets (56,741) (28,592) Total provision for impairment of Company assets (1,218,548) (2,075,582) Provision for onerous liabilities (1,340,522) (821,751) 1.4.2 Rollforward of the provision for impairment and onerous liability Description Impairment of assets Onerous liabilities Total Balance at December 31, 2019 (2,075,582) (821,751) (2,897,333) Foreign currency exchange — (213,280) (213,280) Interest expense – adjustment of the provision for onerous liabilities — (206,011) (206,011) Addtiions of onerous liabilities — (362,426) (362,426) Consumption of aircraft material and rotables / onerous liabilities 272,006 262,946 534,952 Maintenance reserve (20,486) — (20,486) Sale of aircraft 13,123 — 13,123 Renegotiation of lease contracts (lease modification) 581,926 — 581,926 Other 10,465 — 10,465 Balance at December 31, 2020 (1,218,548) (1,340,522) (2,559,070) 1.5 Seasonality The Company's operating revenues depend substantially on the general volume of passenger and cargo traffic, which is subject to seasonal changes. Our passenger revenues are generally higher during the summer and winter holidays, in January and July respectively, and in the last two weeks of December, which corresponds to the holiday season. Considering the distribution of fixed costs, this seasonality tends to cause variations in operating results between the quarters of the fiscal year.

Business combinations

Business combinations	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about business combination [abstract]
BUSINESS COMBINATION	BUSINESS COMBINATION 2.1 Acquisition of Two Táxi Aéreo Ltda. On May 14, 2020, the Company completed the acquisition of all the shares of Azul Conecta Ltda., previously denominated “Two Táxi Aéreo Ltda”. The transaction was approved without restrictions by the Brazilian Antitrust Authority (“CADE”) on March 27, 2020. On April 30, 2020, through a power of attorney, the Company assumed control of Azul Conecta, therefore, the transfer control occurred before the closing date mentioned above, in accordance with IFRS 3 – Business Combinations. Azul Conecta offers regular passenger and cargo services to 39 destinations in Brazil, of which only seven were served by Azul. The acquired company also has 14 daily departure and arrival times on the auxiliary runway at the Congonhas airport, the country's main domestic terminal. Its fleet consists of 17 own aircraft, model Cessna Caravan, a single-engine regional turboprop with a capacity for nine passengers. The total nominal amount of the transaction was R$123,000. Payment will be made in up to 30 monthly installments, ranging from R$3,000 to R$10,000, subject to certain contractual and market conditions, and a final payment of up to R$30 million, which will be kept deposited in a bank account as a guarantee in favor of Company for a specified period. This acquisition generated goodwill of R$57,446 initially allocated to the line item “Goodwill for expected future profitability” in the consolidated financial statements. The conclusion of the analysis of the fair value of the assets acquired and liabilities assumed will be complete within the period of 12 months following the acquisition. Azul Conecta contributed revenues of R$14,505 and pre-tax losses of R$25,966 from the acquisition date until December 31, 2020. Had the business combination occurred at the beginning of the year, revenue would have totaled R$35,921 and pre-tax losses would be R$35,881. Description Fair value of assets and liabilities Assets Cash and cash equivalents 3,971 Accounts receivable 3,637 Inventories 1,624 Taxes recoverable 1,399 Other assets 458 Property and equipment (a) 74,205 85,294 Liabilities Loans and financing (16,540) Accounts payable (5,764) Salaries, accruals and payroll charges (2,707) Taxes payable (824) Provision for tax, civil and labor risks (b) (1,687) Other liabilities (650) (28,172) Net assets acquired 57,122 Consideration at present value 114,568 Goodwill for expected future profitability 57,446 Cash flows Net cash acquired with subsidiary 3,971 Payment (42,684) Net cash flow from acquisition (38,713) (a) The Company carried out the fair value measurement of property and equipment based on conditions at the acquisition date. Fair value recognized in this line item amounts to R$56,820. (b) The Company recognized R$500 of fair value from possible contingencies.

Declaration of Management, Basi

Declaration of Management, Basis for Preparation and Presentation of The Financial Statements	12 Months Ended
	Dec. 31, 2020
Basis for preparation and presentation of the financial statements [Abstract]
DECLARATION OF MANAGEMENT, BASIS FOR PREPARATION AND PRESENTATION OF THE FINANCIAL STATEMENTS	DECLARATION OF MANAGEMENT, BASIS FOR PREPARATION AND PRESENTATION OF THE FINANCIAL STATEMENTS The Company's financial statements were prepared in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The Company's consolidated financial statements have been prepared based in Brazilian Reais (“R$”) as a functional and presentation currency and are expressed in thousands of reais, unless otherwise indicated, as well as the disclosures of amounts in other currencies, when necessary, have also been made in thousands. The preparation of the Company's consolidated financial statements requires Management to make judgments, use estimates and adopt assumptions that affect the reported amounts of revenues, expenses, assets and liabilities. However, the uncertainty related to these judgments, assumptions and estimates could lead to results that require a significant adjustment to the carrying amount of certain assets and liabilities in future years. The Company reviews its judgments, estimates and assumptions on an ongoing basis. Management, when preparing these consolidated financial statements, used the following disclosure criteria: (i) regulatory requirements; (ii) relevance and specificity of the information on the Company's operations to users; (iii) informational needs of users of the consolidated financial statements; and (iv) information from other entities participating in the passenger air transport market. Management confirms that all relevant information specific to the consolidated financial statements, and only such information, is being evidenced and corresponds to that used by Management when carrying out its business management activities. The consolidated financial statements have been prepared based on the historical cost, except for the following material items recognized in the statements of financial position: • Short-term investments classified as cash and cash equivalents measured at fair value; • Short-term investments comprising mainly exclusive investment funds, measured at fair value; • TAP bonds; • Right to convert obligations with debentures issued in 2020; • Derivative financial instruments. The approval and authorization for the issuance of these consolidated financial statements took place at the Board of Directors' meeting held on April 27, 2021.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Disclosure of significant accounting policies [abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The significant accounting policies adopted by the Company in the preparation of these consolidated financial statements, which were applied consistently in the comparative years presented, are set out below. 4.1 Consolidation The consolidated financial statements include information about the Company and its subsidiaries in which Azul held direct or indirect control. Control of a subsidiary is achieved when Azul is exposed, or has rights, to variable returns in such subsidiaries and have the power to influence the investee’s operating and financial decisions. The financial information of the subsidiaries has been prepared using the same accounting policies as the Company. All related party assets and liabilities, equity, income, expenses and cash flows related to transactions between related parties are eliminated in full in the consolidation process. 4.2 Business combinations The Company accounts for business combinations using the acquisition method. The cost of an acquisition is measured as the sum of the consideration transferred, which is measured at acquisition date fair value. Acquisition-related costs are expensed as incurred. In the acquisition of a business, Management assesses the assets acquired and liabilities assumed in order to classify and allocate them according to the contractual terms, economic circumstances and relevant conditions at the acquisition date. Goodwill is initially measured as the excess of the consideration transferred over the fair value of the net assets acquired (identifiable assets and liabilities assumed, net). After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill is allocated to each of the cash-generating units that are expected to benefit from the acquisition. 4.3 Cash and cash equivalents This group includes cash balances, bank deposits and short-term investments with immediate liquidity, which are readily convertible into a known amount of cash with an insignificant risk of change in value. Financial investments classified in this group are measured at fair value through profit or loss. 4.4 Short-term investments In the presentation and measurement of financial assets, the Company considers the provisions of IFRS 9 – "Financial Instruments" which determines that financial assets shall be initially measured at fair value less costs directly attributable to their acquisition. In turn, the subsequent measurement is divided into two categories: 4.4.1 Amortized cost Short-term investments are measured at amortized cost when all the following conditions are met: • The Company plans to hold the financial asset in to collect cash flows set forth in contract; • Contractual cash flows represent solely payments of interest and principal (“SPPI”); and • The Company did not opt for the fair value methodology in order to eliminate measurement inconsistencies named “accounting mismatch”. 4.4.2 Fair value • Through comprehensive income : short-term investments shall be measured at fair value through comprehensive income when both of the following conditions are met: (i) the Company plans to hold the financial asset to collect cash flows set forth in contract and sell the asset; and (ii) contractual cash flows represent SPPI; • Through profit or loss : it is considered to be a residual category, i.e. the Company does not plan to hold the financial asset to collect cash flows set forth in contract and/or sell the asset, this shall be measured at fair value through profit or loss. Financial instruments designated at fair value through profit or loss are designed to eliminate or significantly reduce an accounting mismatch and are therefore measured at fair value. 4.5 Accounts receivable These are measured based on the invoiced amount, net of expected losses on receivables, and approximate the fair value given their short-term nature. The allowance for expected losses on receivables is measured by applying the simplified approach, through the use of historical data, projecting the expected loss over the life of the contract and no longer based on the historical loss incurred, by segmenting the receivables portfolio into groups that have the same pattern of collection and according to the respective maturities. Additionally, for certain cases, the Company carries out individual analyses to assess the risks of collection of the receivables. 4.6 Aircraft sublease receivables The sublease receivable is a transaction whereby the lessee subleases the asset that is the subject of a lease to a third party, thus becoming an intermediate lessor. IFRS 16 – Leases, requires an intermediate lessor to classify the sublease as finance or operating. Considering that the contracts entered into by the Company up to December 31, 2020 cover most of the term of the head lease, these were accounted for as follows: • Derecognition of the right-of-use assets related to the head lease and recognition of the rights arising from the sublease contracts at present value; • Recognition of any difference between the right-of-use assets written off and the rights arising from the sublease contract at present value in profit or loss for the year; • Maintenance of the lease obligations of the host contract in the statement of financial position; • Recognition of financial income over the term of the sublease; and • Recognition of financial expenses relating to obligations of the host lease contract. 4.7 Inventories Inventory balances mainly comprise materials for maintenance and replacement of parts. Inventories are measured at average acquisition cost plus expenses such as non-recoverable taxes, customs expenses incurred in the acquisition, and expenses with transportation to the warehouse. Expenses with transfers between operational bases are not capitalized, if incurred. Provisions for obsolescence of inventories are recorded for items not expected to be realized. 4.8 Assets held for sale Assets held for sale are measured at the lower of their carrying amount and fair value, less costs to sell, and are not depreciated or amortized. Such items are only classified under this line item when the sale is highly probable and they are available for immediate sale in their present conditions. At December 31, 2020, the Company did not have items classified in this category. The item previously classified under this line item returned to the operations. 4.9 Security deposits and maintenance reserves 4.9.1 Security deposits Security deposits are represented by amounts deposited by the Company to the lessors of aircraft, as required at the inception of the lease, as guarantee for the fulfillment of the lease contract. Security deposits are denominated in U.S. dollars, do not bear interest and are not reimbursable at the end of the contracts. 4.9.2 Maintenance reserves Certain master lease agreements provide that we pay maintenance reserves to aircraft lessors to be held as collateral in advance of the performance of major maintenance activities. Maintenance reserve deposits are reimbursable to us upon completion of the maintenance event in an amount equal to the lower of: • the amount of the maintenance reserve held by the lessor associated with the specific maintenance event or; • the costs related to the specific maintenance event. Substantially all of these maintenance reserve payments are calculated based on a utilization measure, such as flight hours or cycles, and are used solely to collateralize the performance of maintenance by the lessor. At the reporting date we assess whether the maintenance reserve payments required by the master lease agreements are expected to be recovered through the performance of qualifying maintenance on the leased assets. We assess recoverability of amounts currently on deposit with a lessor by comparing them to the amounts that are expected to be reimbursed at the time of the next maintenance event. Maintenance deposits expected to be recovered are held in assets, and the amounts identified as non-recoverable are considered as maintenance costs. Aircraft maintenance reserves are classified as current or non-current depending on the dates when the related maintenance is expected to be performed. 4.10 Income tax and contribution 4.10.1 Current taxes In Brazil, current taxes comprise corporate income tax (“IRPJ”) and social contribution on profit (“CSLL”), which are calculated monthly based on the taxable profit, after offsetting tax losses carryforward, limited to 30% of the taxable profit. A 15% rate is applied to that base, plus 10% for IRPJ and 9% for CSLL. The income from foreign subsidiaries is subject to taxation in accordance with the rates and legislation in force. In Brazil such income is taxed in accordance with Law No. 12,973/14. 4.10.2 Deferred taxes Deferred taxes represent credits and debits on tax losses carryforward, as well as temporary differences between the tax and accounting bases. Deferred tax assets and liabilities are classified as non-current. An impairment loss on these assets is recognized when the Company's internal studies indicate that the future use of these credits is not likely. Deferred tax assets and liabilities are presented net if there is a legally enforceable right to off-set tax liabilities against tax assets, and if they are related to taxes levied by the same tax authority on the same taxable entity. Therefore, for presentation purposes, balances of tax assets and liabilities, which do not meet the legal criteria for realization, are disclosed separately. Deferred tax assets and liabilities shall be measured at the rates that are expected to be applicable in the period in which the asset is realized or the liability is settled, based on the enacted tax rates at the reporting date. The projections of future taxable profits on tax losses carryforward are prepared based on the business plans and are reviewed and approved annually by the Board of Directors. On January 1, 2019, the interpretation of IFRIC 23 – Uncertainty over Income Tax Treatments, became effective, addressing the application of recognition and measurement requirements when there is uncertainty over income tax treatments. The Company analyzed relevant tax decisions of higher courts and whether they conflict in any way with the positions adopted by the Company. For known uncertain tax positions, the Company reviewed the corresponding legal opinions and legal case and did not identify impacts to be recorded, since it concluded that the tax authorities are not likely to accept the positions adopted. The Company will periodically evaluate the positions assumed in which there are uncertainties about the tax treatment adopted and will set up a provision when applicable. 4.11 Property and equipment Property and equipment, including rotable components (replacement parts), are stated at acquisition cost. Loan and financing costs are recorded as part of the costs of property and equipment in progress considering the weighted average rate of loans and financing in force at the capitalization date. Depreciation is calculated according to the estimated economic useful life of each asset using the straight-line method. The estimated economic useful lives, residual values and depreciation methods are reviewed annually and the effects of any changes in estimates are accounted for prospectively. The carrying amount of property and equipment is tested annually for impairment when facts or changes in circumstances indicate that the carrying amount is greater than the estimated recoverable amount. In turn, the carrying amount of the aircraft is tested for impairment annually, even if there are no circumstances that indicate the existence of impairment. An item of property and equipment is derecognized upon disposal or when no future economic benefits are expected from the continued use of the asset. Any gains or losses arising on the sale or derecognition of an item are determined by the difference between the amount received on the sale and the carrying amount of the asset and are recognized in statement of operations. The Company receives credits from manufacturers when purchasing certain aircraft and engines, which can be used to pay for maintenance services. These credits are recorded as a reduction of the acquisition cost of the aircraft and related engines. Additionally, the Company adopts the following treatment for the groups below: 4.11.1 Lease contracts IFRS 16 – Leases, establishes the principles for the recognition, measurement, presentation and disclosure of lease transactions and requires lessees to account for all leases in accordance with a single balance sheet model. The standard includes two exemptions from recognition for lessees – leases of “low value” assets and short-term leases, that is, leases with a term of 12 months or less. At the inception of the lease, the lessee recognizes a liability to make payments (a lease liability) and an asset representing the right to use the underlying asset over the lease term (a right-of-use assets). Lessees must separately recognize interest expense on the lease liability and depreciation expense for the right-of-use assets. Lessees must also reassess the lease liability in the event of certain events, for example, a change in the lease term, a change in future lease payment flows as a result of a change in an index or rate used to determine such payments. In general, the lessee must recognize the remeasurement amount of the lease liability as an adjustment to the right-of-use assets. In determining the discount rate, the Company primarily used those contracted in funding operations that took place close to the date of start and/or modification of lease contracts, in the Brazilian and U.S. markets. For operations in the Brazilian market, the Company converted the cost of funding to the equivalent of one transaction in U.S. dollars, adjusting this according to the country risk and the interest rate differential between Brazil and the United States of America. Thus, it was concluded that the built-in inflationary effects are very low, in addition to the fact that 99.4% of the Company's lease transactions are denominated in U.S. dollar. 4.11.2 Sale and leaseback transactions First, sale and leaseback transactions are analyzed within the scope of IFRS 15 – Revenue from Contracts with Customers, in order to verify whether the performance obligation has been satisfied, and therefore to account for the sale of the asset. If this requirement is not met, it is a financing with the asset given as guarantee. If the requirements related to the performance obligation set out in IFRS 15 are met, the Company measures a right-of-use assets arising from the sale and leaseback transaction in proportion to the carrying amount of the asset related to the right-of-use assets retained by the Company. Accordingly, only the gains or losses related to the rights transferred to the buyer-lessor are recognized. 4.11.3 Componentization of aircraft At the receipt and initial recognition of aircraft and/or right-of-use assets, the Company allocates the total cost of the aircraft between five major components; airframe, auxiliary power unit (“APU”), landing gear and two engines. The economic useful life is the period extending up to the next heavy maintenance or structural check or the remaining useful life of the aircraft/engines or lease contract, whichever is shorter. 4.11.4 Capitalization of heavy maintenance events The Company has maintenance contracts for its engines that cover all significant maintenance events. Subsequent heavy maintenance events, which increase the useful lives of assets, are capitalized and recognized as property and equipment or in addition to the right-of-use assets. They are subsequently depreciated during the respective period of use or until the end of the lease. Repairs and other routine maintenance are recognized in statement of operations during the year in which they are incurred. Additionally, the Company also has “power-by-the-hour” contracts, in which the amounts due to maintenance providers are calculated based on the hours flown, at the time of the maintenance event. 4.11.5 Recognition of contractual obligations relating to return of aircraft (asset retirement obligation) The costs resulting from the maintenance events that will be carried out immediately before the return of the aircraft to the lessors, defined as restoration events, upon the receipt of the aircraft, are recognized at present value, increasing the value of the asset as a balancing item to an obligation, as long as they can be reasonably estimated. Assets are depreciated on a straight-line basis over the lease contract term, while liabilities are updated by interest rates and exchange effects. 4.11.6 Advance payments for acquisition of aircraft Property and equipment prepayments for aircraft acquisition are recorded, including interest and financial charges incurred during the aircraft manufacturing phase and improvements to third-party assets. 4.12 Intangible assets 4.12.1 Definite useful life Intangible assets acquired are measured at cost at the time of their initial recognition. After initial recognition, intangible assets with definite useful lives, generally software, are stated at cost, less accumulated amortization and accumulated impairment losses, where applicable. Intangible assets generated internally, excluding development costs, are not capitalized and the expense is reflected in the statement of operations for the year in which it was incurred. 4.12.2 Indefinite useful life 4.12.2.1 Goodwill for expected future profitability In this category, the amounts recorded are related to goodwill arising from business combinations of Tudo Azul S.A. (formerly TRIP Linhas Aéreas S.A.) and Azul Conecta Ltda. (formerly Two Táxi Aéreo Ltda.). Goodwill is tested annually by comparing the carrying amount with the recoverable amount of the cash-generating unit. Management makes judgments and establishes assumptions to assess the impact of macroeconomic and operational changes, in order to estimate future cash flows and measure the recoverable amount of assets. No impairment has been recorded to date. 4.12.2.2 Rights of operations in airports (slots) In connection with the acquisition of TudoAzul (former TRIP), slots acquired were recognized at their fair values at the acquisition date and not amortized. The estimated useful life of these rights was considered indefinite due to several factors and considerations, including requirements and authorizations for permission to operate in Brazil and limited availability of usage rights at the most important airports in terms of air traffic volume. The carrying amount of these rights is assessed annually. No impairment has been recorded to date. 4.13 Impairment of non-financial assets The Company performs an annual review for impairment indicators in order to assess events or changes in economic, technological, or operating conditions that may indicate that an asset is impaired. To assess the recoverability of an asset, it is necessary to estimate its recoverable amount. The recoverable amount of an asset or cash-generating unit is the higher of its fair value, less costs to sell and its value in use. When the carrying amount of an asset or cash-generating unit exceeds its recoverable amount, a provision for impairment is set up by adjusting the carrying amount. The previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset's recoverable amount. The reversal is limited, so that the carrying amount of the asset does not exceed its recoverable amount, nor does it exceed the carrying amount previously determined, net of depreciation or amortization. The Company operates a single cash-generating unit. In estimating the asset's value in use, estimated future cash flows are discounted to present value, using a pre-tax discount rate that reflects the weighted average cost of capital for the cash-generating unit. Aircraft and engines in operation are tested for impairment, by comparing the net carrying amount with the fair value indicated by specialized publications. After this comparison, Management concluded that there are no losses related to the right-of-use assets recorded in the asset, and therefore no provision for loss on these assets was recorded. As disclosed in Note 1.4, the Company intends to sublease the E1 model aircraft, in accordance with its fleet transformation acceleration plan and, accordingly, a provision for impairment was established. The details and assumptions adopted are also included in that note to financial statements. 4.14 Rights and obligations with derivatives Changes in interest rates, foreign exchange rates and aviation fuel prices expose the Company and its subsidiaries to risks that may affect their financial performance. In order to mitigate such risks, the Company contracts derivative financial instruments that may or may not be designated for hedge accounting and, if so, are classified as cash flow or fair value hedge. 4.14.1 Derivative financial instruments not designated as hedge accounting The Company may contract derivative financial instruments that are not designated as hedge accounting when the objectives of Risk Management do not require such classification. Transactions not designated as hedge accounting present the change in their fair value directly in the financial result. 4.14.2 Derivative financial instruments designated as fair value hedge The instruments designated as fair value hedge aim to protect changes in the fair value of the hedged item, which may be an asset, a liability or a firm commitment. The change in the fair value of a hedge instrument is recognized in the statement of operations, as well as the change in the fair value of the hedged item attributable to the hedged risk. 4.14.3 Derivative financial instruments designated as cash flow hedge The instruments designated as cash flow hedge aim to protect future results arising from changes in interest rates and foreign currency. The effectiveness of the variations is estimated based on statistical correlation methods and by the ratio between the hedge gains and losses and the variation of the hedged costs and expenses. The effective changes in fair value are recognized in equity in “Other comprehensive income (loss)”, until the recognition of the result of the hedged item. The inefficiencies found in each reporting period are recognized in the financial result. Hedge transactions recorded in “Other comprehensive income (loss)” are net of tax effects. 4.14.4 Derecognition and write-off of derivative financial instruments The hedge accounting is discontinued prospectively when the Company and its subsidiaries (i) cancel the hedge relationship; (ii) the derivative instrument expires or is sold, terminated or executed, (iii) when there is low predictability of realization of the hedged item, or (iv) when it no longer qualifies as hedge accounting. If the operation is discontinued, any gains or losses, previously recognized in “Other comprehensive income (loss)” and accumulated in equity up to that date, are immediately recognized in profit or loss for the year. 4.15 Loans and financing Loans and financing are initially recognized at fair value less any directly attributable transaction costs. After initial recognition, these financial liabilities are measured at amortized cost using the effective interest method, with the exception of the embedded derivative contained in the convertible debentures, issued in November 2020, which is measured at fair value through profit or loss. 4.16 Accounts payable and other These are initially recognized at fair value and subsequently increased, where applicable, by the corresponding charges and monetary and exchange variations incurred up to the end of the reporting period. 4.16.1 Accounts payable – supplier finance Management negotiated with suppliers to extend the payment terms. As a result, the Company signed an agreement with financial institutions to allow the discounting of trade notes receivable from its suppliers. Taking into account that the early receipt with financial institutions is an option for suppliers, this does not generate financial expenses for the Company, and the Company is neither refunded and/nor benefited with discounts from the financial institution due to payment before the maturity date agreed upon with the supplier. There is no change in the bill subordination level in the event of judicial execution. 4.17 Air traffic liability This represents the Company's obligations to provide air transport services and other ancillary services related to the main obligation with its customers, net of breakage revenue already recognized in the statement of operations, as detailed in Note 20. 4.18 Provisions 4.18.1 Provision for return of aircraft (asset retirement obligation) Aircraft negotiated under the operating lease modality regularly provide for contractual obligations establishing conditions for return. In these cases, the Company provides for the return costs, since these are present obligations, arising from past events and which will generate future disbursements, which are reliably measured. These expenses basically refer to expenses related to aircraft reconfiguration (interior and exterior), obtaining licenses and technical certifications, verifications of returns, painting, etc., as established in the contract. The estimated cost is initially recognized at present value in right-of-use assets and the balancing item of the provision for aircraft return is recorded in the “Provisions” account. After initial recognition, the liability is updated according to the capital remuneration rate estimated by the Company, with a corresponding entry recorded in the financial result. Any changes in the estimate of expenses to be incurred are recognized prospectively. 4.18.2 Provision for onerous contract Onerous contract is that in which the unavoidable costs of meeting the contractual obligations exceed the economic benefits expected to be received over the same contract. In these cases, the present obligation under the contract is measured and recognized as a provision. However, before a separate provision for onerous contract is established, the Company assesses and recognizes any impairment loss that has occurred in the assets related to that contract in accordance with IAS 36 – Impairment of assets. 4.18.3 Provision for tax, civil and labor risks Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The Company is a party to several legal and administrative proceedings, mainly in Brazil. Assessments of the likelihood of loss in these cases include an analysis of the available evidence, the hierarchy of laws, the available case laws, the most recent court decisions and their significance in the legal system, as well as the assessment of external lawyers. Provisions are revised and adjusted to reflect changes in circumstances, such as the applicable statute of limitations, conclusions of tax inspections or additional exposures identified based on new matters or court decisions. 4.19 Employee benefits 4.19.1 Executive bonus and employee profit sharing The Company's employees are entitled to profit sharing based on certain goals agreed annually, and executives based on statutory provisions proposed by the Board of Directors and approved by the shareholders. The amount of profit sharing is recognized in statement of operations for the year in which the goals are achieved. 4.19.2 Share-based payment The Company offers executives share-based compensation plans to be settled with Company shares, according to which the Company receives services as consideration for stock options and restricted shares. The cost of transactions with executives, settled with equity instruments and with awards, is measured based on the fair value at the date they were granted. To determine the fair value, the Company uses the Black-Scholes option pricing model, as detailed in Note 25. The cost of equity-settled transactions is recognized, together with a corresponding increase in equity, over the period in which the performance and/or service conditions are fulfilled, ending on the date on which the employee acquires the full right to the award (vesting date). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and Management's best estimate of the number of equity instruments that will ultimately vest. The expense or credit in the statement or statement of operations for the period is recognized in “Salaries, wages and benefits” and represents the movement in cumulative expense recognized as at the beginning and end of that year. No expense is recognized for awards that do not ultimately vest, except for awards in which vesting is conditional on a market condition (condition connected to the Company's share price), which are treated as vested irrespective of whether the market conditions are met or not, provided that all other vesting conditions are met. The cost of cash-settled transactions is initially measured at fair value at the grant date. This fair value is expensed over the period up to the maturity date, with the recognition of a corresponding liability. The liability is remeasured at fair value at the reporting date up to the settlement date, with the changes in fair value recognized in the statement of operations for the year under "Salaries, wages and benefits". 4.19.3 Post-employment benefits As of the year ended December 31, 2020, the Company started to recognize actuarial assets and liabilities related to health insurance benefits offered to its employees in accordance with IAS 19 – "Employee Benefits". Actuarial gains and losses are recognized in other comprehensive income based on the actuarial report prepared by independent experts, while the benefits paid directly by the Company, the cost of current service and the cost of interest are recognized in statement of operations for the year. 4.20 Treasury shares Own equity instruments that are acquired (treasury shares) are recognized at cost and deducted from equity. No gain or loss is recognized in statement of operations on the purchase, sale, issue or cancellation of these equity instruments. Any difference between the carrying amount and the fair value, if the share is reissued, is recognized in the share premium. 4.21 Revenue recognition 4.21.1 Passenger, cargo and auxiliary service revenue Passenger revenue is recognized when air transportation is actually provided. Tickets sold but not yet flown are recorded as air traffic liability, representing deferred revenue from tickets sold to be flown on a future date, net of breakage revenue estimate. Breakage revenue consists of calculating, on a historical basis, tickets issued that will expire due to non-use, that is, passengers who have purchased tickets and are very likely not to use them. For the purposes of recognizing this revenue, the average terms are also considered provision of air transport services. At least annually, the calculations are reviewed in order to reflect and capture changes in customer behavior regarding ticket expiration. Other revenues that include charter services, flight rescheduling fees, baggage dispatch and other additional services are recognized along with the primary passenger transport obligation. 4.21.2 Frequent-flyer program revenue – TudoAzul Under the “TudoAzul” program, customers accrue points based on the amount spent on tickets flown. The amount of points earned depends on TudoAzul membership category, market, fare class and other factors, including promotional campaigns. Through historical data, the Company estimates the points that will expire without being used and recognizes the corresponding revenue in the issue of the point (breakage) considering the average exchange period. With some exceptions, points generally expire two years after the date earned regardless of activity in the program member's account. Upon the sale of a ticket, the Company recognizes a portion of ticket sales as revenue when the transportation service occurs and defers a portion corresponding to the points earned under the TudoAz

Cash and cash equivalents

Cash and cash equivalents	12 Months Ended
	Dec. 31, 2020
Cash and cash equivalents [abstract]
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS December 31, Description Effective interest rate p.a. 2020 2019 Cash and bank deposits 465,054 308,958 Cash equivalents Bank Deposit Certificate – CDB 1.9% 2,216,592 156,593 Debentures 1.9% 361,183 1,160,795 Exclusive investment funds 1.2% 21,986 21,534 3,064,815 1,647,880

Short and Long -Term Investment

Short and Long -Term Investments	12 Months Ended
	Dec. 31, 2020
Disclosure of short and long term investments [Abstract]
SHORT AND LONG-TERM INVESTMENTS	SHORT AND LONG -TERM INVESTMENTS December 31, Description Effective interest rate p.a. 2020 2019 Exclusive investment funds 1.2% 62,972 40,766 Investment funds 0.7% 28,847 21,243 TAP Bonds 6.7% 854,462 1,236,828 Other investments — — 160,871 946,281 1,459,708 Current 91,819 62,009 Non-current 854,462 1,397,699 Investment funds comprise Brazilian government bonds, bank notes, CDBs and debentures issued by companies with a risk rating between AAA and A+. Brazilian government bonds comprise National Treasury Bills (“LTN”), Financial Treasury Bills (“LFT”) and National Treasury Notes (“NTN”). Short-term investments are classified as financial assets at fair value through profit or loss.

Accounts Receivable

Accounts Receivable	12 Months Ended
	Dec. 31, 2020
Trade and other receivables [abstract]
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE December 31, Description 2020 2019 Local currency Credit card companies 394,895 768,839 Cargo and travel agencies 146,854 127,509 Azul Viagens 56,870 88,410 TudoAzul program 65,522 56,485 Other 52,713 59,715 Total local currency 716,854 1,100,958 Foreign currency Credit card companies 8,927 4,439 Maintenance reserve 112,170 6,726 Airline partner companies 24,910 17,598 Insurance 7,150 24,112 Other 21,502 26,749 Total foreign currency 174,659 79,624 Total 891,513 1,180,582 Allowance for expected losses (16,131) (14,716) Total net 875,382 1,165,866 The breakdown of accounts receivable by maturity, net of allowance for expected losses, is as follows: December 31, Description 2020 2019 Current (not past due) Up to 30 days 476,378 734,218 31 to 60 days 69,729 110,392 61 to 90 days 46,007 82,142 91 to 180 days 86,215 170,182 181 to 360 days 65,386 46,945 Total current 743,715 1,143,879 Past due Up to 30 days 104,377 7,429 31 to 60 days 8,371 4,149 61 to 90 days 4,228 5,720 91 to 180 days 5,077 111 181 to 360 days 6,178 563 Over 360 days 3,436 4,015 Total past due 131,667 21,987 Total 875,382 1,165,866 Changes in the allowance for expected losses are as follows: December 31, Description 2020 2019 Balances at the beginning of the year (14,716) (12,723) Business combination – Azul Conecta (380) — (Inclusions) and reversals (3,205) (1,993) Write-off of uncollectible amounts 2,170 — Balances at the end of the year (16,131) (14,716)

Aircraft sublease receivables

Aircraft sublease receivables	12 Months Ended
	Dec. 31, 2020
Disclosure of aircraft sublease receivables [Abstract]
Aircraft sublease receivables	AIRCRAFT SUBLEASE RECEIVABLES December 31, Description 2020 2019 2020 — 98,152 2021 142,932 86,657 2022 62,547 47,136 2023 65,040 44,154 2024 65,188 44,154 After 2024 36,783 20,588 Gross lease receivables 372,490 340,841 Accrued interest (59,553) (61,337) Net lease receivables 312,937 279,504 Current 123,455 75,052 Non-current 189,482 204,452 As at December 31, 2020, the amount of R$34,457 was past due. No provision was established as the Company’s holds cash balances in connection with guarantee deposits and maintenance reserves advanced by the sub-lessor, and therefore, there is a low risk of non-realization of such assets. There were no past due amounts as at December 31, 2019.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2020
Classes of current inventories [abstract]
INVENTORIES	INVENTORIES December 31, Description 2020 2019 Maintenance parts and materials 442,161 288,824 Flight attendance and uniforms 9,579 5,768 Provision for loss on inventories (49,153) (33,727) Total net 402,587 260,865 Changes in the provision for losses on inventories: December 31, Description 2020 2019 Balances at the beginning of the year (33,727) (15,935) Additions (16,438) (19,815) Write-offs 1,012 2,023 Balances at the end of the year (49,153) (33,727)

Security deposits and maintenan

Security deposits and maintenance reserves	12 Months Ended
	Dec. 31, 2020
Disclosure of security deposits and maintenance reserves [Abstract]
Security deposits and maintenance reserves	SECURITY DEPOSITS AND MAINTENANCE RESERVES The changes in security deposits and maintenance reserves for the years ended December 31, 2020 and 2019 is as follows: Description Maintenance reserve Security deposit Total Balances at December 31, 2018 1,321,490 225,230 1,546,720 Additions 343,727 37,614 381,341 Write-offs (8,417) — (8,417) Reimbursements (210,356) (113,137) (323,493) Foreing exchanges variations 52,454 2,928 55,382 Balances at December 31, 2019 1,498,898 152,635 1,651,533 Business combination – Azul Conecta — 298 298 Additions 313,950 93,739 407,689 Impairment (20,486) — (20,486) Write-offs (419,843) — (419,843) Reimbursements (476,588) (43,519) (520,107) Foreing exchanges variations 425,715 29,243 454,958 Balances at December 31, 2020 1,321,646 232,396 1,554,042 Current 318,460 — 318,460 Non-current 1,003,186 232,396 1,235,582

Taxes Recoverable

Taxes Recoverable	12 Months Ended
	Dec. 31, 2020
Taxes Recoverable [Abstract]
TAXES RECOVERABLE	TAXES RECOVERABLE December 31, 2020 2019 IRPJ and CSSL recoverable 4,443 11,357 Withholding income tax 3,470 5,082 PIS and COFINS recoverable 123,005 323,457 ICMS recoverable 1,765 7,002 INSS recoverable 519 27,904 Other taxes recoverable 504 9,467 133,706 384,269 Current assets 133,706 139,668 Non-current assets — 244,601

Prepaid expenses

Prepaid expenses	12 Months Ended
	Dec. 31, 2020
Prepayments and accrued income [abstract]
PREPAID EXPENSES	PREPAID EXPENSES December 31, Description 2020 2019 Insurance premiums 49,428 47,506 Expenses with leased aircraft and engines 28,351 39,989 Guarantee commission 40,678 16,332 Other 36,085 57,792 Total 154,542 161,619 Current 136,350 139,403 Non-current 18,192 22,216

Income tax and social contribut

Income tax and social contribution	12 Months Ended
	Dec. 31, 2020
Major components of tax expense (income) [abstract]
TAXES	TAXES 13.1 Reconciliation of deferred tax assets (liabilities) Description December 31, Statement of operations December 31, Temporary differences Fair value of TAP Bonds (243,288) 217,156 (26,132) Financial instruments (201,738) 79,778 (121,960) Deferred revenue – TudoAzul Program (148,963) 31,423 (117,540) Depreciation of aircraft and engines (48,899) (4,283) (53,182) Foreing exchanges variations (16,498) 16,498 — Fair value of other investments (21,963) 21,963 — Active temporary difference (*) 421,563 (102,749) 318,814 (259,786) 259,786 — Tax loss and CSSL negative base Tax loss 12,699 (12,699) — Negative social contribution base 4,571 (4,571) — 17,270 (17,270) — Total (242,516) 242,516 — (*) Deferred taxes assets recognized up in the limit of the deferred taxes liabilities recognized. 13.2 Reconciliation of the effective income tax rate Years ended December 31, Description 2020 2019 2018 Profit (loss) before income tax and social contribution (11,077,214) (2,536,265) (452,926) Combined nominal tax rate 34 % 34 % 34 % Taxes calculated at nominal rates 3,766,253 862,330 153,995 Adjustments to determine the effective rate Profits from investments not taxed abroad — (10,341) 3,050 (Unrecorded) benefit on tax loss carryforwards (3,257,190) (880,375) (400,187) Offset against PERT (a) — 84,711 — Permanent differences (244,011) 76,958 65,971 Other (22,547) (104) (5,634) 242,505 133,179 (182,805) Current income tax and social contribution (11) (2,228) (11,224) Deferred income tax and social contribution 242,516 135,407 (171,581) Income tax and social contribution credit (expense) 242,505 133,179 (182,805) Effective rate 2 % 5 % (40) % (a) Tax Recovery Program (“PERT”) The Company offsets tax assets and tax liabilities if, and only if, it has a legal right to offset such assets when they are levied on the same legal entity and collected by the same tax authority. The Company has tax losses that are available indefinitely to offset 30% of future taxable profits, as follows: December 31, Description 2020 2019 2018 Tax loss carryfowards – net 5,751,867 1,971,779 1,829,244 Income tax loss carryforwards (25%) 1,437,967 492,945 457,311 Social contribution on tax loss carryforwards (9%) 517,668 177,460 164,632

Property and equipment

Property and equipment	12 Months Ended
	Dec. 31, 2020
Property, plant and equipment [abstract]
PROPERTY AND EQUIPMENT	PROPERTY, EQUIPMENT AND RIGHT-OF-USE ASSETS 14.1 PROPERTY AND EQUIPMENT Description Weighted average rate (p.a.) December 31, Business combination – Acquisitions Disposals/write-offs Contractual modifications Transfers (a) December 31, Cost Aircraft and engines 2,706,529 97,814 259,986 (689,771) — (76,897) 2,297,661 Building and leasehold improvements 296,728 — 22,433 (2,104) (975) 169,165 485,247 Equipment and facilities 176,814 780 21,324 (12,867) — (4,957) 181,094 Other – property and equipment 24,297 294 818 — — 2,599 28,008 Construction in progress 171,839 — 40,464 (4,485) — (174,188) 33,630 Advance payments for acquisition of aircraft 84,578 — 20,800 (13,434) — — 91,944 3,460,785 98,888 365,825 (722,661) (975) (84,278) 3,117,584 Depreciation Aircraft and engines 8% (612,124) (24,214) (207,908) 230,855 — (11,345) (624,736) Building and leasehold improvements 17% (78,001) — (50,795) 35 — — (128,761) Equipment and facilities 12% (97,990) (326) (21,191) 11,786 — (196) (107,917) Other – property and equipment 11% (16,654) (142) (2,792) — — (18) (19,606) (804,769) (24,682) (282,686) 242,676 — (11,559) (881,020) Total property and equipment 2,656,016 74,206 83,139 (479,985) (975) (95,837) 2,236,564 Impairment (687,176) — — 250,318 — — (436,858) Total property and equipment, net 1,968,840 74,206 83,139 (229,667) (975) (95,837) 1,799,706 Description Weighted average rate (p.a.) December 31, Acquisitions Disposals/write-offs Transfers December 31, Cost Aircraft and engines 2,007,825 712,679 (222,745) 208,770 2,706,529 Buildings and leasehold improvements 146,315 124,181 (3,118) 29,350 296,728 Equipment and facilities 130,655 48,101 (2,091) 149 176,814 Other – property and equipment 22,035 2,267 (5) — 24,297 Construction in progress 81,023 319,275 — (228,459) 171,839 Advance payments for acquisition of aircraft 112,923 55,649 (45,081) (38,913) 84,578 2,500,776 1,262,152 (273,040) (29,103) 3,460,785 Depreciation Aircraft and engines 9% (509,296) (177,372) 74,544 — (612,124) Buildings and leasehold improvements 17% (53,030) (25,157) 186 — (78,001) Equipment and facilities 13% (81,412) (17,265) 687 — (97,990) Other – property and equipment 8% (14,799) (1,860) 5 — (16,654) (658,537) (221,654) 75,422 — (804,769) Total property and equipment 1,842,239 1,040,498 (197,618) (29,103) 2,656,016 Impairment — (687,176) — — (687,176) Total property and equipment, net 1,842,239 353,322 (197,618) (29,103) 1,968,840 (a) Balance of aeronautical material transferred to “Inventories” in amount of R$110,937 for the year ended December 31, 2020. 14.2 RIGHT-OF-USE ASSETS Description Weighted average rate (p.a.) December 31, Acquisitions (a) Disposals/write-offs Contractual modifications Transfers (b) December 31, Cost Aircraft 12,071,427 2,197,881 (25,741) (4,736,892) 68,701 9,575,376 Engines and simulators 484,597 86,995 (38,160) (6,515) 1,393 528,310 Restoration of aircraft and engines 423,194 290,785 (116,968) — — 597,011 Maintenance of aircraft and engines 1,374,925 168,513 (82,887) (54,658) 8,614 1,414,507 Properties 114,167 — — — — 114,167 Other 42,391 109 (12,065) — — 30,435 14,510,701 2,744,283 (275,821) (4,798,065) 78,708 12,259,806 Depreciation Aircraft 8% (4,538,684) (954,452) 25,741 — (31,220) (5,498,615) Engines and simulators 14% (231,625) (67,191) 35,595 — (1,392) (264,613) Restoration of aircraft and engines 9% (145,546) (37,315) — — — (182,861) Maintenance of aircraft and engines 27% (549,869) (368,476) 32,729 — (6,709) (892,325) Properties 9% (64,042) (10,565) — — — (74,607) Other 16% (34,776) (6,717) 12,064 — — (29,429) (5,564,542) (1,444,716) 106,129 — (39,321) (6,942,450) Total rigth-of-use assets 8,946,159 1,299,567 (169,692) (4,798,065) 39,387 5,317,356 Impairment (1,361,356) — 72,815 581,926 — (706,615) Total rigth-of-use assets, net 7,584,803 1,299,567 (96,877) (4,216,139) 39,387 4,610,741 Description Weighted average rate (p.a.) December 31, Acquisitions Disposals/write-offs Transfers December 31, Cost Aircraft 8,232,475 4,031,436 (118,193) (74,291) 12,071,427 Engines and simulators 336,731 147,866 — — 484,597 Restoration of aircraft and engines 283,542 139,652 — — 423,194 Maintenance of aircraft and engines 923,517 534,502 (88,102) 5,008 1,374,925 Properties 105,754 8,413 — — 114,167 Other 28,766 14,475 (850) — 42,391 9,910,785 4,876,344 (207,145) (69,283) 14,510,701 Depreciation Aircraft 11% (3,691,143) (928,018) 52,589 27,888 (4,538,684) Engines and simulators 11% (192,902) (38,723) — — (231,625) Restoration of aircraft and engines 12% (112,043) (33,503) — — (145,546) Maintenance of aircraft and engines 33% (290,617) (304,356) 45,104 — (549,869) Properties 12% (51,604) (12,438) — — (64,042) Other 77% (13,251) (22,141) 616 — (34,776) (4,351,560) (1,339,179) 98,309 27,888 (5,564,542) Total rigth-of-use assets 5,559,225 3,537,165 (108,836) (41,395) 8,946,159 Impairment — (1,361,356) — — (1,361,356) Total rigth-of-use assets, net 5,559,225 2,175,809 (108,836) (41,395) 7,584,803 (a) ROU acquisitions are net of credits obtained from aircraft and engine manufacturers. (b) Balance of available for sale transferred to “Property and equipment” in amount of R$54,487. During the year ended December 31, 2020, the Company carried out a sale and leaseback transaction for five of its own engines. The gain related to this operation corresponds to the amount of R$17,104, recognized in “Other operating expenses, net”. In accordance with IFRS 16 – Leases, it was necessary to apply the requirements that deal with lease modification. The effects related to these modifications are represented by a reduction in the lease liabilities of R$5,701,928, with a balancing item in right-of-use assets in the amount of R$4,799,040, with the difference recognized in the statement of operations in “Other operating expenses, net ” in the amount of R$902,888.

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2020
Intangible assets and goodwill [abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS Breakdown and changes in intangible assets: Consolidated Description Weighted average rate (p.a.) December 31, Acquisitions Disposals/write-offs December 31, Cost Goodwill for expected future profitability (a) — 753,502 57,446 — 810,948 Airport operating license (b) — 82,196 — — 82,196 Software — 489,904 109,587 (6,157) 593,334 1,325,602 167,033 (6,157) 1,486,478 Amortization Software 16% (238,118) (78,151) 59 (316,210) (238,118) (78,151) 59 (316,210) Total intangible assets, net 1,087,484 88,882 (6,098) 1,170,268 Consolidated Description Weighted average rate (p.a.) December 31, Additions Disposals/write-offs December 31, Cost Goodwill for expected future profitability (a) — 753,502 — — 753,502 Airport operating license (b) — 82,196 — — 82,196 Software — 357,457 132,447 — 489,904 1,193,155 132,447 — 1,325,602 Amortization Software 17% (176,599) (61,519) — (238,118) (176,599) (61,519) — (238,118) Total intangible assets, net 1,016,556 70,928 — 1,087,484 (a) Goodwill for expected future profitability arises from the acquisition of Tudo Azul S.A. in 2012 and Azul Conecta in 2020. The amount of R$810,948 refers to the consideration transferred, less the fair value of assets acquired and liabilities assumed, net. (b) As part of the allocation of the purchase price for the acquisition of Tudo Azul S.A., the Company recognized the value of operating licenses for certain airports and has an indefinite useful life. 15.1 Impairment of intangible without a finite useful life As at December 31, 2020, the Company performed annual impairment tests, through the discounted cash flow of the cash-generating unit. As disclosed in Note 4.12, the Company operates only a single cash-generating unit. The assumptions used in the impairment tests of goodwill and other intangible assets are consistent with the Company's operating plans and internal projections, prepared for a period of five years. After this period, a perpetuity rate of growth of operating projections is assumed. Assumptions and projections are revised and approved by management. The discounted cash flow that determined the value in use of the cash-generating unit was prepared according to the Company's business plan approved by the Board of Directors on December 10, 2020. The following assumptions were considered: • Fleet and capacity : plan for operational fleet, utilization and capacity of aircraft in each route; • Passenger revenue : historical revenue per seat per kilometer flown with growth in line with the Company's business plan; • Operating costs : specific performance indicators by cost line, in line with the Company's business plan, as well as macroeconomic assumptions; and • Investment needs : aligned with the Company’s business plan. The macroeconomic assumptions commonly adopted include the Gross Domestic Product (“GDP”), and projections of the U.S. dollar, both obtained from the Focus Report issued by the Central Bank of Brazil, in addition to future kerosene barrel prices and interest rates, obtained from specific Bloomberg disclosures. The result of the impairment test showed that the estimated recoverable amount is greater than the carrying amount allocated to the cash-generating unit and, therefore no adjustment of the recoverable amount to be recorded at December 31, 2020 was identified. 15.2 Sensitivity analysis of the impairment test of intangible assets without a finite useful life December 31, 2020 2019 Goodwill for expected future profitability Airport operating license Goodwill for expected future profitability Airport operating license Carrying amount 810,948 82,196 753,502 82,196 Carrying amount – CGU 6,410,447 — 9,553,643 — Value in use 32,227,871 1,726,007 34,595,386 3,219,401 Pre-tax discount rate 10.3% 8.5% 8.8% 9.8% Growth rate in perpetuity 3.0% 3.0% 3.4% 3.4%

Loans and financing

Loans and financing	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about borrowings [abstract]
LOANS AND FINANCING	LOANS AND FINANCING 16.1 Breakdown and changes in loans and financing Description Nominal rate Effective rate Maturity December 31, Proceeds Variarion of conversion right Debt acknowled-gment Business combination – Azul Conecta Payment of principal Payment of interest Interest incurred Foreing exchanges variations Amortized cost December 31, In foreign currency – US$ Working capital 1% to 5.9% 6.2 % Oct/24 1,727,882 4,682 — — — (907) (137,795) 132,033 504,766 6,183 2,236,844 Debentures 6.0% to 7.5% 20.5 % Oct/25 — 1,702,155 755,354 — — — — 25,116 (82,358) 19,437 2,419,704 Aircraft and engines 4.7% to 6.0% Libor 3M + 2.4% to 2.9% Libor 6M + 2% 5.6 % Mar/29 896,232 — — — — (111,703) (23,880) 54,178 268,404 1,474 1,084,705 In local currency – R$ Working capital 5.0% to 10.7% CDI + 2% to 6% TJLP + 5% 4.1 % Dec/23 37,355 229,386 — 527,375 4,975 (58,746) (3,366) 39,365 — 107 776,481 Debentures CDI + 3% 2.9 % Dec/23 692,407 — — — — — (18,459) 24,238 — (7,282) 690,904 Aircraft and engines 6.0% to 6.5% Selic +2.8% to 5.5% TJLP +5% 6.1 % May/25 164,280 — — — 11,565 (21,052) (10,241) 7,649 — (325) 151,876 Total in R$ 3,518,156 1,936,223 755,354 527,375 16,540 (192,408) (193,741) 282,609 690,812 19,594 7,360,514 Current 481,227 858,332 Non-current 3,036,929 6,502,182 Description Nominal rate p.a. Effective rate p.a. Maturity December 31, Proceeds Payment of principal Payment of interest Interest incurred Exchange differences Foreing exchanges variations December 31, In foreign currency – US$ Working capital LIBOR + 0.88% a 5.90% 5.7 % Oct/24 1,656,947 — (350) (96,970) 94,610 70,629 3,016 1,727,882 Aircraft and engines LIBOR +2.55% a 6.07% US Treasury + 3.25% 5.5 % Mar/29 100,042 813,328 (43,795) (24,047) 28,076 19,386 3,242 896,232 In local currency – R$ Working capital 5.00% 125% a 126% do CDI 7.2 % Dec/23 75,757 — (37,752) (5,059) 3,520 — 889 37,355 Debentures 117% e 122% do CDI 6.8 % Dec/23 730,519 — (64,345) (26,784) 49,808 — 3,209 692,407 Aircraft and engines 6.00% a 6.50% SELIC +5.46%a.a. 4.5 % May/25 192,861 — (29,864) (12,738) 13,977 — 44 164,280 Total in R$ 2,756,126 813,328 (176,106) (165,598) 189,991 90,015 10,400 3,518,156 Current 158,813 481,227 Non-current 2,597,313 3,036,929 16.2 Schedule of amortization of long-term debt December 31, Description 2020 2019 2021 — 539,378 2022 743,137 359,943 2023 914,343 277,465 2024 2,264,451 1,764,136 2025 2,551,701 62,164 After 2025 28,550 33,843 6,502,182 3,036,929 16.3 Debentures convertible into shares On November 12, 2020, the Company concluded the public offering for the distribution of debentures convertible into preferred shares, with security interest and additional guarantee of the Company, with the following characteristics: total issue amount: (i) R$1,745,900; (ii) issue date: October 26, 2020; (iii) term and maturity date: 5 years from the date of issue, maturing therefore on October 26, 2025; (iv) Conversion price: R$32.2649 per preferred share, resulting in an initial conversion premium of 27.50%, calculated on the VWAP (Volume Weighted Average Price) of 30 trading sessions of the reference stock price of R$25.3058. The issuance of debentures is part of Azul's efforts to contain the economic impact of the COVID-19 pandemic on its operations and the Company expects to use the net proceeds obtained for working capital, expansion of its logistics activities and other strategic opportunities. The debentures are redeemable, totally or partially, in cash at the Company's discretion at any time, after 36 months, if the last price reported by American Depositary Share (ADS) representing Azul's preferred share exceeds 130% of the conversion price for a specific period. The debentures are guaranteed by the Company and its main operating subsidiary, ALAB, and are guaranteed by certain assets, including, but not limited to, intellectual property assets held by the guarantors and the TudoAzul frequent-flyer program, certain rights related to the right-of-use assets of the hangar and specific equipment necessary for maintenance of the hangar used by the Company and located at the Viracopos airport. As required by IFRS 9 – Financial Instruments, the conversion right was measured at fair value through profit or loss as it is an embedded derivative. Thus, since the issuance of debentures, due to the strong recovery of the shares value, an expense of R$755,354 was recognized. It should be noted that conversion rights are “in the money” with a high probability of execution by debenture holders. 16.4 Covenants As at December 31, 2020, the Company has loans and financing subject to covenants related to the Company’s indebtedness level and the debt service coverage ratio. Covenant related to: Indicators for the measurement Frequency of measurement 9t th issue of debentures 10 th issue of debentures (i) Adjusted debt service coverage ratio (DSCR) equal to or greater than 1.2 (ii) Financial leverage less than or equal to 6.5. Annual Aircraft financing (i) Adjusted debt service coverage ratio (DSCR) equal to or greater than 1.2 (ii) financial leverage less than or equal to 5.5. Quarterly/Annual Aircraft financing (i) Adjusted debt service coverage ratio (DSCR) equal to or greater than 1.2 (ii) financial leverage less than or equal to 6.5. Annual

Lease liabilities

Lease liabilities	12 Months Ended
	Dec. 31, 2020
Lease liabilities [abstract]
LEASE LIABILITIES	LEASE LIABILITIES 17.1 Changes in lease liabilities Description Average payment term in years Weighted average rate December 31, Additions Contractual modifications Payments Interest incurred Write-offs Foreign exchanges variations December 31, Lease without purchase option: Aircraft and engines 7.89 22.19% 11,046,134 2,329,443 (5,327,038) (1,162,869) 1,431,944 (4,912) 3,350,441 11,663,143 Other 2.12 8.11% 72,230 — — (21,741) 6,881 — (92) 57,278 Lease with purchase option: Aircraft and engines 5.54 13.56% 988,257 — (374,890) (231,417) 130,326 — 288,115 800,391 Total in R$ 12,106,621 2,329,443 (5,701,928) (1,416,027) 1,569,151 (4,912) 3,638,464 12,520,812 Current liabilities 1,585,233 2,272,349 Non-current liabilities 10,521,388 10,248,463 Description Average payment term in years Weighted average rate December 31, Additions Payments Interest incurred Write-offs Foreign exchanges variations December 31, Lease without purchase option: Aircraft and engines 8.26 8.20% 7,725,397 4,153,314 (1,865,472) 726,613 (24,775) 331,057 11,046,134 Other 2.90 7.64% 82,545 22,888 (39,008) 8,628 (279) (2,544) 72,230 Aircraft and engines 4.24 6.15% 1,111,804 32,188 (269,988) 70,767 — 43,486 988,257 Total in R$ 8,919,746 4,208,390 (2,174,468) 806,008 (25,054) 371,999 12,106,621 Current liabilities 1,237,909 1,585,233 Non-current liabilities 7,681,837 10,521,388 17.2 Schedule of lease amortization December 31, Description 2020 2019 2020 — 2,481,457 2021 2,498,180 2,335,363 2022 3,206,765 2,406,701 2023 3,641,808 1,875,308 2024 3,610,754 1,560,055 After 2024 14,211,063 5,580,166 Minimum lease payment 27,168,570 16,239,050 Financial charges (14,647,758) (4,132,429) Present value of minimum lease payments 12,520,812 12,106,621 During the year ended December 31, 2020, the Company renegotiated aircraft and engine lease contracts, which included the deferral of payments and changes in contractual terms. Accordingly, in accordance with IFRS 16 – Leases, it was necessary to apply the requirements that deal with lease modification, which require remeasurement of the lease liability by means of a revised discount rate. The application of such requirements resulted in the reduction of the debt at present value, of R$5,701,928 and R$4,799,040 in the right-of-use assets, the difference, a gain of R$902,888 was recognized in statement of operations the period.

Accounts payable

Accounts payable	12 Months Ended
	Dec. 31, 2020
Trade and other payables [abstract]
ACCOUNTS PAYABLE	ACCOUNTS PAYABLE December 31, Description 2020 2019 Accounts payable – local currency 1,612,933 952,439 Accounts payable – foreign currency 948,794 424,411 2,561,727 1,376,850 Current 2,238,668 1,376,850 Non-current 323,059 — The increase in the balance of accounts payable is due to the renegotiation carried out by the Company with its suppliers to face the economic crisis caused by the COVID-19 pandemic.

Rights and Obligations with Fin

Rights and Obligations with Financial Instruments	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
RIGHTS AND OBLIGATIONS WITH FINANCIAL INSTRUMENTS	RIGHTS AND OBLIGATIONS WITH FINANCIAL INSTRUMENTS Cash flow hedge Fair value hedge Derivatives not designated as hedge Changes in fair value Interest rate swap Options – foreign currency Interest rate swap Options – foreign currency Interest rate swap Fuel Forward – foreign currency Total (a) Rights (obligations) with derivatives at December, 31 2019 (7,129) 338,592 24,057 (35,487) (62,803) 56,491 202,013 515,734 Gains (losses) recognized in result (4,799) (94,928) 24,421 (143,156) (22,846) (1,374,519) 163,711 (1,452,116) Gains (losses) in OCI 7,129 152,132 — — — — — 159,261 Reclassification to debt — (218,979) (43,485) 127,889 (101,136) 778,286 (15,200) 527,375 (Receipt) payment in cash 4,799 (176,817) (2,744) 57,453 (82,706) 458,468 (1,432) 257,021 Rights (obligations) with derivatives at December, 31 2020 — — 2,249 6,699 (269,491) (81,274) 349,092 7,275 Cash flow hedge Fair value hedge Derivatives not designated as hedge Changes in fair value Interest rate swap Options – foreign currency Interest rate swap Options – foreign currency Interest rate swap Fuel Forward – foreign currency Total (a) Rights (obligations) with derivatives at December, 31 2018 (9,422) 246,323 20,080 (45,949) (166,987) (123,223) 233,564 154,386 Gains (losses) recognized in result (4,072) 99,855 6,133 10,462 140,159 115,189 (42,274) 325,452 Gains (losses) in OCI 2,294 (7,586) — — — — — (5,292) (Receipt) payment in cash 4,071 — (2,156) — (35,975) 64,525 10,723 41,188 Rights (obligations) with derivatives at December 31, 2019 (7,129) 338,592 24,057 (35,487) (62,803) 56,491 202,013 515,734 (a) The changes of derivative transactions are disclosed on a net basis. Movement of equity method adjustment Interest rate swap Options – foreign currency Total Balance at December 31, 2019 7,129 152,132 159,261 Fair value adjustments during the period 2,918 — 2,918 Net reversals to result (923) (152,132) (153,055) Derecognition of hedged item (9,124) (9,124) Balance at December 31, 2020 — — — Movement of equity method adjustment Interest rate swap Options – foreign currency Total Balance at December 31, 2018 9,422 152,132 161,554 Fair value adjustments during the period 1,778 (99,855) (98,077) Net reversals to result (4,071) 99,855 95,784 Balance at December 31, 2019 7,129 152,132 159,261

Air traffic liability

Air traffic liability	12 Months Ended
	Dec. 31, 2020
Air traffic liability [Abstract]
Air traffic liability	AIR TRAFFIC LIABILITY December 31, Description 2020 2019 Cargo and passenger air traffic liability 1,550,579 1,294,263 Azul viagens 183,061 109,977 TudoAzul Program 755,232 685,982 2,488,872 2,094,254 As determined by regulators, travel rescheduling may be carried out within a period corresponding to 18 months from the flight cancellation. As at December 31, 2020 there are no passenger transport obligations to be executed after the 12-month period subsequent to the date of these financial statements. The air traffic liability balances are presented net of passenger revenue breakage and the TudoAzul program, corresponding to R$372,534 at December 31, 2020 (R$539,232 at December 31, 2019).

Provisions

Provisions	12 Months Ended
	Dec. 31, 2020
Provisions [abstract]
PROVISIONS	PROVISIONS Description Provisions for return of aircraft and engines Provisions for tax, civil and labor risks Provisions for onerous contract Provisions for post-employment benefit Total Balance at December 31, 2018 669,041 80,983 — — 750,024 Addition of provision 139,652 100,241 1,129,866 — 1,369,759 Write-offs and/or payments (93,718) (333,420) — (427,138) Interest incurred 67,366 — 18,633 — 85,999 Foreing exchanges variations 28,036 — 6,672 — 34,708 Balance at December 31, 2019 904,095 87,506 821,751 — 1,813,352 Business combination – Azul Conecta — 1,688 — — 1,688 Additions 304,594 183,014 362,426 9,921 859,955 Write-offs and/or payments (118,504) (116,394) (262,946) — (497,844) Interest incurred 84,939 — 206,011 687 291,637 Changes in assumptions — — — (655) (655) Foreing exchanges variations 161,062 — 213,280 — 374,342 Balance at December 31, 2020 1,336,186 155,814 1,340,522 9,953 2,842,475 Current 106,944 — 746,866 — 853,810 Non-current 1,229,242 155,814 593,656 9,953 1,988,665 21.1 Provisions for return of aircraft and engines These provisions consider the costs that meet the contractual conditions for the return of engines maintained under an operating lease, as well as for the costs to be incurred in reconfiguring aircraft when they are returned under the conditions established in the lease contracts. The contra-entry of these provisions is in right-of-use assets. 21.2 Provision for tax, civil and labor risks The Company and its subsidiaries are parties to legal and administrative proceedings. The Company's Management believes that the provision for tax, civil and labor risks, established in accordance with IAS 37 – Provisions, Contingent Liabilities and Contingent Assets, is sufficient to cover probable losses on administrative and judicial proceedings. The balances of the proceedings with estimates of probable and possible losses are shown below: Probable loss Possible loss December 31, December 31, Description 2020 2019 2020 2019 Tax 2,858 2,024 154,640 116,074 Civil 104,915 45,067 43,347 77,360 Labor 48,041 40,415 114,524 123,119 155,814 87,506 312,511 316,553 Provisions are revised based on the evolution of lawsuits and the history of losses through the best current estimate for civil and labor claims. The labor lawsuit presented below was assessed by Management and legal counselors as being significant and of possible loss at December 31, 2020: • On February 22, 2017, the Labor Department of Justice filed a lawsuit against the Company alleging the violation of certain labor aspects, such as excessive daily workday and the absence of enjoyment of rest periods, for which approximately R$66,000 in punitive damages. The lawsuit is awaiting a hearing. The tax claims below are assessed by Management and legal counselors to be significant and of possible loss at December 31, 2020: • The Company discusses the non-application of the additional charge of 1% of COFINS on imports of aircraft, parts and pieces, in the amount of R$144,352 (R$102,317 at December 31, 2019). The classification as possible risk results from the fact that there was no express revocation of the tax exemption (zero rate) granted to regular air transport companies. 21.3 Provision for onerous contract The provision is related to the obligations arising from the fleet transformation plan, as detailed in Note 1.4. 21.4 Provision for post-employment benefit The Company offers its employees a health care plan that, as a result of complying with current legislation, generates post-employment benefit obligations. The changes of actuarial assets and liabilities related to the post-employment benefit, prepared based on an actuarial report, are presented below: December 31, Actuarial liabilities at the 12.31.19 — Current service cost recognized in result 9,921 Cost of interest recognized in result 687 Effect of change in financial assumptions (962) Effect of plan experience 307 Actuarial liabilities at the 12.31.20 9,953 December 31, Actuarial assumptions Weighted average of assumptions to determine the defined benefit obligation Nominal discount rate p.a. 7.43 % Actual discount rate p.a. 3.80 % Estimated inflation rate in the long term p.a. 3.50 % HCCTR – Average nominal inflation rate p.a. 6.60 % HCCTR – Actual nominal inflation rate p.a. 3.00 % Mortality table AT-2000 downrated in 10%

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Disclosure of transactions between related parties [abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS 22.1 Compensation of key management personnel Key management personnel comprise the directors, officers and members of the Executive Committee. The compensation and charges paid or payable for services are shown below: Years ended December 31, Description 2020 2019 2018 Salaries and charges 18,075 22,187 16,275 Bonus 11,717 7,255 7,263 Share-based payment plan 36,986 29,129 21,508 66,778 58,571 45,046 Sensitivity analysis: variations in share value Description Stock price Expense Exposure at December 31, 2020 39.30 36,986 Effect on result Devaluation -50% 19.65 12,203 Devaluation -25% 29.48 21,807 The effect on the result referring to the share-based compensation plan is based on the variation of the Company's share value, which is updated each reporting period, and therefore does not represent a cash outflow in the current year, with a forecast for vesting and settlement in up to four years. 22.2 Guarantees and pledges granted by the Company The Company has granted guarantees on rental properties for some of its executives and the total amount involved is not significant. 22.3 Loan agreement On September 2, 2016, the Company signed a loan agreement with one of its shareholders. As at December 31, 2020, the balance of the loan receivable is R$16,973 (R$12,789 as at December 31, 2019). Interest corresponds to three-month LIBOR plus a fixed rate of 2.3% per year. 22.4 Technology service sharing contract On January 1, 2013, the Company entered into a contract with Águia Branca Participações S.A., one of its shareholders, for the sharing of information technology resources for an indefinite period. The total amount of services acquired during the year ended December 31, 2020 was R$51 (R$50 at December 31, 2019), recorded under “Other operating expenses, net” in the statement of operations. As at December 31, 2020, there were no amounts to be paid as a result of this transaction. 22.5 Ticket sales contract On March 26, 2018, the Company entered into a ticket sales agreement with Caprioli Turismo Ltda., a travel agency owned by the Caprioli family (which holds an indirect stake in the Company through TRIP former shareholders), whereby Caprioli Turismo Ltda. is granted a R$20 credit line for the purchase and resale of tickets for flights operated by the Company. This credit line is guaranteed by a non-interest bearing promissory note in the same amount payable. 22.6 Sublease of aircraft receivable In December 2019, the Company signed a letter of intent for the sublease of up to 28 aircraft to the Breeze Aviation Group (“Breeze”), an airline founded by the controlling shareholder of Azul, headquartered in the United States. The transaction was voted and approved by 97% of the Azul's shareholders at the Extraordinary General Meeting held on March 2, 2020. Following good corporate practices, the controlling shareholder did not participate in the voting. On December 29, 2020, the Company sub-leased an aircraft to Breeze and recorded a balance receivable balance of R$24,167. 22.7 Indemnities As at December 31, 2020, the Company has recorded a balance receivable from former shareholders of TRIP in the amount of R$39,339 (R$30,347 as at December 31, 2019). This balance refers to the reimbursement of expenses with legal proceedings originating prior to the merger between the companies and is recorded under “Other non-current assets”.

Equity

Equity	12 Months Ended
	Dec. 31, 2020
Equity [abstract]
EQUITY	EQUITY 23.1 Equity Quantity Description Company's capital Common shares Preferred shares At December 31, 2020 2,246,367 928,965,058 331,644,724 At December 31, 2019 2,243,215 928,965,058 329,568,166 As established in the Company's articles of incorporation, each common share is entitled to 1 (one) vote. Preferred shares of any class do not entitle to voting rights, however they do provide their holders: • capital repayment priority; • the right to be included in a public offer for the purchase of shares, due to the transfer of control of the Company, under the same conditions and for a price per share equivalent to 75 times the price per share paid to the controlling shareholder; • the right to receive amounts equivalent to 75 times the price per common share after the division of the remaining assets among the shareholders; and • the right to receive dividends equal to 75 times the amount paid to each common share. The Company’s shareholding structure is presented below: December 31, 2020 December 31, 2019 Shareholder Common shares Preferred shares % economic participation Common shares Preferred shares % economic participation David Neeleman 67.0 % 1.2 % 3.5 % 67.0 % 3.5 % 5.8 % Acionistas Trip (a) 33.0 % 5.5 % 6.5 % 33.0 % 5.5 % 6.5 % United Airlines Inc — 8.1 % 7.8 % — 8.2 % 7.9 % Other — 85.1 % 82.1 % — 82.7 % 79.7 % Treasury — 0.1 % 0.1 % — 0.1 % 0.1 % Total 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % (a) This refers to Trip Participações S.A., Trip Investimentos Ltda. and Rio Novo Locações Ltda. The Company is authorized by resolution of the Board of Directors to increase the issued capital regardless of statutory reform with the issue of up to 104,949,010 new preferred shares. The Board of Directors will set the conditions for the issue, including price and payment term. 23.2 Treasury shares Changes in of treasury shares: Description Number of shares R$ December 31, 2018 332,980 10,550 Acquisition 301,008 12,853 Cancellation (189,743) (7,838) December 31, 2019 444,245 15,565 Cancellation (178,784) (2,383) December 31, 2020 265,461 13,182

Earnings (Loss) Per Share

Earnings (Loss) Per Share	12 Months Ended
	Dec. 31, 2020
Earnings per share [abstract]
EARNINGS (LOSS) PER SHARE	EARNINGS (LOSS) PER SHARE Although there are differences between common and preferred shares as to voting and preemptive rights in the event of liquidation, the Company's preferred shares do not grant the right to receive fixed dividends. Preferred shares have economic power and the right to receive dividends 75 times greater than common shares. Accordingly, the Company considers that the economic power of preferred shares is greater than that of common shares. Therefore, the statement of operations for the period attributable to the controlling shareholders is allocated proportionally in relation to the total economic participation of the amount of common and preferred shares. Basic earnings (loss) per share are calculated by dividing the net income (loss) for the period attributable to the Company's controlling shareholders by the weighted average number of all classes of shares outstanding during the period. Diluted earnings (loss) per share are calculated by adjusting the weighted average number of shares outstanding by instruments potentially convertible into shares. However, due to the losses reported in the years ended December 31, 2020, 2019 and 2018 these instruments have a non-dilutive effect and therefore were not considered in the total number of shares outstanding to determine the diluted loss per share. Years ended December 31, Description 2020 2019 2018 Numerator Loss for the year (10,834,709) (2,403,086) (635,731) Denominator Weighted average number of common shares 928,965,058 928,965,058 928,965,058 Weighted average number of preferred shares 329,779,360 328,571,282 325,310,485 75 preferred shares (*) 75 75 75 Weighted average number of equivalent preferred shares (*) 342,165,561 340,957,483 337,696,686 Weighted average number of equivalent common shares (**) 25,662,417,083 25,571,811,221 25,327,251,414 Weighted average number of stock options and restricted shares 63,789,234 9,865,114 11,530,390 Weighted average of shares that would have been issued at average market price 4,705,897 6,805,600 6,400,619 Basic loss per common share – R$ (0.42) (0.09) (0.03) Diluted loss per common share – R$ (0.42) (0.09) (0.03) Basic loss per preferred share – R$ (31.67) (7.05) (1.88) Diluted loss per preferred share – R$ (31.67) (7.05) (1.88) (*) This refers to the participation in the value of the Company's total equity, calculated as if all 928,965,058 common shares had been converted into 12,386,200 preferred shares at the conversion ratio of 75 common shares for each preferred share. (**) This refers to the participation in the value of the Company's total equity, calculated as if the weighted average of preferred shares had been converted into common shares at the conversion ratio of 75 common shares for each 1 preferred share.

Share-Based Payment

Share-Based Payment	12 Months Ended
	Dec. 31, 2020
Disclosure of terms and conditions of share-based payment arrangement [abstract]
SHARE-BASED PAYMENT	SHARE-BASED PAYMENT The Company has three additional compensation plans for its management: the Stock Option Plan, the Restricted Stock Option Plan and the Stock Purchase Plan ("Phantom"). All of them aim to stimulate and promote the alignment of the objectives of the Company, shareholders, management and employees, and mitigate the risks in the generation of value of the Company by the loss of its executives, strengthening their commitment and productivity in the long-term results. 25.1 Stock option plan The options granted in the Stock Option Plan require an acquisition period between 4 and 5 years, exercisable at a rate between 20% and 25% per year and have an average duration of eight years. The estimated volatility was calculated based on the historical volatility of shares of airlines listed on the stock exchanges in Brazil and the rest of Latin America. Date of grant Total options granted Total outstanding options Share exercise price Fair value of option on the date of grant Estimated volatility of share price Expected dividend Risk-free return rate Average remaining maturity (in years) 12.11.09 5,032,800 296,470 3.42 1.93 47.67 % 1.10 % 8.75 % 0 03.24.11 1,572,000 84,000 6.44 4.16 54.77 % 1.10 % 12.00 % 0 04.05.11 656,000 8,960 6.44 4.16 54.77 % 1.10 % 12.00 % 0 06.30.14 2,169,122 786,197 19.15 11.01 40.59 % 1.10 % 12.46 % 0 07.01.15 627,810 231,638 14.51 10.82 40.59 % 1.10 % 15.69 % 0 01.07.16 820,250 385,980 14.50 10.14 43.07 % 1.10 % 12.21 % 0 07.06.17 680,467 490,355 22.57 12.82 43.35 % 1.10 % 10.26 % 0.5 03.14.17 9,343,510 3,824,610 11.85 4.82 50.64 % 1.10 % 11.32 % 1.2 12.31.20 20,901,959 6,108,210 Set out below the changes of the plans: Description Number of shares Weighted average of exercise price (in R$) At December 31, 2018 11,190,829 Cancelled (69,085) Exercised (2,936,976) At December 31, 2019 8,184,768 12.85 Exercised (2,076,558) 11.45 At December 31, 2020 6,108,210 16.91 Number of exercisable options at: At December 31, 2020 2,158,658 15.12 At December 31, 2019 2,294,135 13.81 The expense recognized in the statement of operations corresponding to the stock option plan for the year ended December 31, 2020 was R$9,489 (R$12,742 and R$16,677 as at December 31, 2019 and 2018, respectively). 25.2 Restricted stock option plan The shares granted in the Restricted Stock Option Plan require an acquisition period of 4 years, exercisable at the rate of 25% per year. The estimated volatility was calculated based on the historical volatility of shares of airlines listed on the stock exchanges in Brazil and the rest of Latin America. Grants are measured based on the fair value of the share at the date premiums are granted. Date of grant Fair value of share Total Total not exercised 06.30.14 21.00 487,670 3,967 07.01.15 21.00 294,286 4,047 07.01.16 21.00 367,184 7,722 07.06.17 24.17 285,064 59,080 08.07.18 24.43 291,609 129,860 08.05.19 51.65 170,000 115,774 06.19.20 21.80 1,382,582 1,332,555 3,278,395 1,653,005 Set out below is the changes of the plans: Description Number of shares At December 31, 2018 729,593 Granted 170,000 Cancelled (49,748) Delivered (260,451) At December 31, 2019 589,394 Granted 1,382,582 Cancelled (74,024) Delivered (244,947) At December 31, 2020 1,653,005 The expense recognized in the statement of operations corresponding to the restricted stock option plan for the year ended December 31, 2020 was R$13,421 (R$6,152 and R$6,254 as at December 31, 2019 and 2018,respectively). 25.3 Virtual Stock Option Plan – Phantom Phantom Shares plans require an acquisition period of between 3 and 4 years, have a duration of between 6 and 8 years and the exercise price must be equal to the lowest share price traded on the market during the thirty trading sessions prior to the date of the granting of options approved by the Compensation Committee. The estimated volatility was calculated based on the historical volatility of the Company's shares. No dividends are expected for this plan. The fair value of this liability is reviewed and updated in each reporting period, according to the change in the fair value of the benefit granted and the acquisition of the right to exercise. Date of grant Total granted Total outstanding Exercise price Price at the date of grant Current share price Fair value at the date of grant Estimated volatiblity of share price Risk-free return rate Average remaining maturity (in years) 08.07.18 707,400 89,674 R$ 10.35 R$ 17.40 R$ 39.30 R$ 11.98 53.22 % 3.02 % 2.33 08.05.19 405,000 14,201 R$ 10.35 R$ 17.40 R$ 39.30 R$ 11.98 53.22 % 3.02 % 2.33 04.30.20 3,250,000 3,167,765 R$ 10.35 R$ 17.40 R$ 39.30 R$ 11.98 53.22 % 3.02 % 2.33 04.30.20 1,600,000 1,585,401 R$ 10.35 R$ 17.40 R$ 39.30 R$ 11.63 53.22 % 3.02 % 3.33 12.31.20 5,962,400 4,857,041 Set out below is the changes of the plan: Description Total outstanding At December 31, 2018 707,400 Granted 405,000 Cancelled (47,889) Settled (98,603) At December 31, 2019 965,908 Granted 4,793,582 Cancelled (898,881) Settled (3,568) At December 31, 2020 4,857,041 The expense recognized in the statement of operations corresponding to the virtual stock option plan – phantom for the year ended December 31, 2020 was R$28,842 (R$13,373 and R$1,184 as at December 31, 2019 and 2018,respectively). As at December 31, 2020, the total obligation related to the plan is R$62,351 (R$11,647 as at December 31, 2019).

Sales Revenue

Sales Revenue	12 Months Ended
	Dec. 31, 2020
Disclosure of sales revenue [Abstract]
SALES REVENUE	OPERATING REVENUE Years ended December 31, Description 2020 2019 2018 Passenger service 4,688,295 10,382,240 8,431,966 Loyalty program revenue 508,976 818,572 597,994 Cargo service 764,108 552,084 373,417 Other revenue 35,115 49,986 57,308 Total gross revenue 5,996,494 11,802,882 9,460,685 Taxes levied (252,368) (360,565) (403,621) Net revenue 5,744,126 11,442,317 9,057,064 Revenues by geographical location are as follows: Years ended December 31, Description 2020 2019 2018 Domestic revenue 4,759,257 9,195,535 7,383,183 Foreign revenue 984,869 2,246,782 1,673,881 Net revenue 5,744,126 11,442,317 9,057,064

Financial result

Financial result	12 Months Ended
	Dec. 31, 2020
Analysis of income and expense [abstract]
FINANCIAL RESULT	FINANCIAL RESULT Years ended December 31, Description 2020 2019 2018 Financial income interest on short-term investments 23,187 12,462 31,947 Sublease receivable 28,714 29,695 33,129 Other 8,397 29,914 9,446 60,298 72,071 74,522 Financial expenses Interest on loans (270,057) (195,688) (164,294) Interest on lease (1,438,825) (732,723) (606,076) Interest on finance lease (130,326) (73,284) (75,313) Interest on factoring credit card receivables (25,715) (13,477) (10,625) Interest on provision for return of aircraft (283,797) (88,015) (56,827) Interest and fines on other operations (225,082) (129,954) (79,822) Share conversion right (755,354) — — Guarantee commission (38,484) (30,977) (26,187) Borrowing cost (44,671) (12,549) (23,169) Other (57,630) (52,857) (52,515) (3,269,941) (1,329,524) (1,094,828) Derivative financial instruments, net (1,452,116) 325,452 298,094 Foreign currency exchange, net (4,302,540) (391,905) (1,306,063) Financial result, net (8,964,299) (1,323,906) (2,028,275)

Financial instruments and risk

Financial instruments and risk management	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
FINANCIAL INSTRUMENTS AND RISK MANAGEMENT	FINANCIAL INSTRUMENTS AND RISK MANAGEMENT Operating activities expose the Company and its subsidiaries to financial market risks related to fuel prices, foreign currency, interest rates, credit and liquidity. Such risks can be mitigated through the use of swaps, futures and options, in the fuel, U.S. dollar and interest market. The Company's management supervises the monitoring of the market, credit and liquidity risks. All activities with financial instruments for risk management are carried out by specialists with skill, experience and adequate supervision. It is the Company's policy not to enter into derivative transactions for speculative purposes. 28.1 Accounting classification and fair value hierarchy of financial instruments The accounting classifications of the Company's financial instruments and fair value hierarchy as at December 31, 2020 and 2019 are shown below: Carrying amount Fair value December 31, December 31, Description Level 2020 2019 2020 2019 Assets Cash and cash equivalents 2 3,064,815 1,647,880 3,064,815 1,647,880 Accounts receivable — 875,382 1,165,866 875,382 1,165,866 Aircraft sublease receivables — 312,937 279,504 312,937 279,504 Short-term investments 2 946,281 1,459,708 946,281 1,459,708 Derivative financial instruments 2 428,309 825,924 428,309 825,924 Liabilities Accounts payable — (2,561,727) (1,376,850) (2,561,727) (1,376,850) Accounts payable – Supplier finance — (157,801) (249,727) (157,801) (249,727) Reimbursement to customers — (221,342) (4,032) (221,342) (4,032) Loans and financing — (5,894,515) (3,518,156) (5,414,689) (3,504,754) Loans and financing – Conversion´s right 2 (1,465,999) — (1,465,999) — Lease liabilities — (12,520,812) (12,106,621) (12,520,812) (12,106,621) Derivative financial instruments 2 (421,034) (310,190) (421,034) (310,190) 28.2 TAP Bonds On March 14, 2016, the Company acquired Series A convertible bonds issued by TAP ("TAP Bonds") in the amount of €90 million. TAP Bonds mature in 10 years from their issue, with annual interest of 3.75% until September 20, 2016 and at the rate of 7.5% in the following years. The accrued interest shall be paid on the maturity date or until the early redemption of the securities, whichever is earlier. On August 10, 2020, as informed at the Extraordinary General Meeting, due to the crisis caused by the COVID-19 pandemic, the Portugal Government negotiated an aid of €1.2 billion for TAP with the European Commission, such aid being conditional among other factors to the elimination of the right to convert senior bonds, since they would not be diluted by the Portugal Government's financial contribution. Accordingly, there are no other rights or obligations measured at fair value requiring level 3 information, according to the fair value hierarchy set out in IFRS 13 – Fair Value Measurement. As a result, the elimination of the conversion right resulted in a loss of R$637,639, recorded under “Result from related party transactions, net”. As at December 31, 2020, rights receivable related to TAP Bonds correspond to R$854,462 (R$1,236,828 as at December 31, 2019), as shown in Note 6. 28.3 Derivative financial instruments Derivative financial instruments, designated or not as hedge transactions, and their changes are presented in Note 19 to these financial statements. 28.4 Market risks 28.4.1 Interest rate risk As at December 31, 2020, the Company had swap contracts to hedge against the effect of fluctuations in interest rates on part of payments for finance leases. During the year ended December 31, 2020, the Company recognized a total gain from interest hedge transactions in the amount of R$30,949 (R$142,220 and R$217,422 as at December 31, 2019 and 2018,respectively). 28.4.2 Aviation fuel price risk (“QAV”) The price of QAV varies depending on the volatility of the price of crude oil and its derivatives. To mitigate losses linked to variations in the fuel market, the Company had, as at December 31, 2020, forward transactions on fuel. During the year ended December 31, 2020, the Company recognized total losses in the statement of operations of R$1,371,941 related to fuel derivatives (gain of R$115,189 and loss of R$110,549 as at December 31, 2019 and 2018). 28.4.3 Foreign currency risk The foreign currency risk arises from the possibility of unfavorable exchange differences to which the Company's liabilities or cash flows are exposed. The Company constantly monitors the net exposure in foreign currency and evaluates the contracting of hedge transactions to protect the non-operating cash flow, projecting for a maximum period of up to 12 months, and a longer term if deemed appropriate, to minimize its exposure. During the year ended December 31, 2020, the Company recognized losses on foreign exchange derivative transactions in the amount of R$74,371 (gain of R$68,043 and R$191,222 as at December 31, 2019 and 2018,respectively). The exposure to foreign currency is as follows: Exposure to US$ Exposure to € December 31, December 31, Description 2020 2019 2020 2019 Assets Cash, cash equivalents and short-term invesments 262,309 289,297 — — Security deposits and maintenance reserves 1,540,231 1,613,221 — — Aircraft sublease receivables 312,937 279,504 — — Long-term investment — 160,871 854,462 1,236,828 Derivative rights 155,920 121,968 — — Other assets 293,526 244,355 — — Total assets 2,564,923 2,709,216 854,462 1,236,828 Liabilities Accounts payable (831,429) (424,411) — — Loans and financing (5,741,253) (2,624,114) — — Lease liabilities (12,463,426) (12,034,392) — — Derivative obligations (81,274) — — — Other liabilities (951,348) (688,134) — — Total liabilities (20,068,730) (15,771,051) — — Net exposure (17,503,807) (13,061,835) 854,462 1,236,828 Net exposure in foreign currency (3,368,254) (3,240,587) 133,972 273,000 28.5 Credit risk Credit risk is inherent to the Company's operating and financial activities, mainly disclosed in cash and cash equivalents, short-term investments, accounts receivable, subleases receivable, security deposits, maintenance reserves and other financial assets included in other assets. Financial assets classified as cash and cash equivalents and short-term investments are deposited with counterparties that have a minimum investment grade rating in the assessment made by agencies S&P, Moody's or Fitch (between AAA and A+). Most of them are contracted on a commodities and futures exchange, which substantially mitigates credit risk. TAP Bonds are guaranteed by intellectual property rights and credits related to the TAP mileage program. Credit limits are established for all customers based on internal classification criteria and the carrying amounts represent the maximum credit risk exposure. The credit quality of the customer is assessed based on an extensive internal credit rating system. Outstanding receivables from customers are frequently monitored by the Company. Derivative financial instruments are contracted on the over-the-counter market (OTC) from counterparties with a minimum investment grade rating, or on commodities and futures exchanges (B3 and NYMEX), which substantially mitigates credit risk. The Company has an obligation to assess the risks of counterparties in financial instruments and to diversify the exposure periodically. 28.6 Liquidity risk The maturity schedules of the Company's consolidated financial liabilities as at December 31, 2020 are as follows: December 31, 2020 Description Carrying amount Contractual cash flows 2021 2022 2023 2024 After 2025 Accounts payable 2,561,727 2,561,727 2,238,668 156,889 83,670 41,168 41,332 Accounts payable – supplier finance 157,801 157,801 157,801 — — — — Loans and financing 7,360,514 7,439,673 874,925 767,353 935,286 2,276,106 2,586,003 Lease liabilities 12,520,812 27,168,570 2,498,180 3,206,765 3,641,808 3,610,754 14,211,063 Derivative obligations 421,034 421,034 173,768 70,577 66,570 110,119 — Reimbursement to customers 221,342 221,342 221,342 — — — — 23,243,230 37,970,147 6,164,684 4,201,584 4,727,334 6,038,147 16,838,398 28.7 Sensitivity analysis of financial instruments 28.7.1 Risk factor: Foreign currency variations As at December 31, 2020, the Company adopted an exchange rate of R$5.1967/US$1.00 and R$6.3779/€1.00, corresponding to the month's closing rate announced by the Central Bank of Brazil as a probable scenario. The table below shows the sensitivity analysis and the effect on the result of the foreign exchange rate fluctuation in the amount exposed at December 31, 2020: Exposure to US$ Exposure to € Description Rate December 31, Rate December 31, Net exposure at 12.31.20 5.1967 (17,503,807) 6.3779 854,462 Effect on result Foreign currency devaluation by -50% 2.5984 8,751,904 3.1890 (427,231) Foreign currency devaluation by -25% 3.8975 4,375,952 4.7834 (213,616) Foreign currency appreciation by 50% 7.7951 (8,751,904) 9.5669 427,231 Foreign currency appreciation by 25% 6.4959 (4,375,952) 7.9724 213,616 28.7.2 Risk factor: changes in QAV prices As at December 31, 2020, the Company has oil derivative contracts to protect future QAV consumption. The probable scenarios used by the Company are the market curves at the December 31, 2020 closing for derivatives that protect the fuel price risk. The table below shows the sensitivity analysis in U.S. dollar of the fluctuation of QAV barrel prices: Exposure to HOA (a) Description Price (b) December 31, 2020 HOA reference price at 12.31.20 150 81,274 Effect on statements of operations HOA devaluation by -50% 75 (98,454) HOA devaluation by -25% 112 (45,667) HOA appreciation by 50% 225 98,454 HOA appreciation by 25% 187 45,667 (a) HOA – Heating Oil (b) Average price in U.S. dollar, per gallon, projected for the next 12 months. 28.7.3 Risk factor: changes in interest rates As at December 31, 2020, the Company held financial investments and debts linked to various types of rates. In the sensitivity analysis of non-derivative financial instruments, the impact on annual interest was only considered on positions with values and exposed to such fluctuations, according to the scenarios shown below: Exposure to CDI Exposure to LIBOR rate Description Rate p.a. December 31, Rate p.a. (a) December 31, Net exposure at 12.31.20 2.8 % 1,113,627 2.7 % (650,740) Effect on statements of operations Interest rate devaluation by -50% 1.4 % (53,593) 1.3 % 30,695 Interest rate devaluation by -25% 2.1 % (45,937) 2.0 % 26,310 Interest rate appreciation by 50% 4.1 % 53,593 4.0 % (30,695) Interest rate appreciation by 25% 3.4 % 45,937 3.4 % (26,310) (a) Weighted rate. 28.8 Capital management The Company seeks capital alternatives in order to satisfy its operational needs, aiming at a capital structure that it considers adequate for the financial costs and the maturity dates of funding and its guarantees. The Company monitors its degree of financial leverage, which corresponds to net debt, including short and long-term loans, as shown below: December 31, Description 2020 2019 Cash and cash equivalents 3,064,815 1,647,880 Short-term investments 946,281 1,459,708 Aircraft sublease receivables 312,937 279,504 Loans and financing (7,360,514) (3,518,156) Lease liabilities (12,520,812) (12,106,621) Net debt (15,557,293) (12,237,685)

Non-Cash Transactions

Non-Cash Transactions	12 Months Ended
	Dec. 31, 2020
Non-cash transaction [Abstract]
NON-CASH TRANSACTIONS	NON-CASH TRANSACTIONS Consolidated Description December 31, Supplier finance 157,801 Derivative debt acknowledgment 527,375 Acquisition of property and equipment through financing (IFRS 16) 2,561,504 Decrease in lease liabilities 5,701,928

Commitments

Commitments	12 Months Ended
	Dec. 31, 2020
Capital commitments [abstract]
COMMITMENTS	COMMITMENTS 30.1 Aircraft acquisition As at December 31, 2020, the Company had contractually assumed the commitment to acquire 132 aircraft, 94 directly from manufacturers and 38 from lessors (147 as at December 31, 2019, 94 directly from manufacturers and 53 from lessors). The related financial disbursements calculated at present value are shown below: December 31, Description 2020 2019 2020 — 3,011,655 2021 1,941,843 3,318,239 2022 855,247 3,628,931 2023 565,661 4,122,212 2024 1,533,423 1,925,315 2025 1,351,477 1,901,725 After 2025 3,926,183 4,955,775 10,173,834 22,863,852 30.2 Letters of credit

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2020
Subsequent events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENT 31.1 COVID-19 Second wave During March 2021, Brazil started to experience the impacts of a second wave of COVID-19, the persisting impacts of the pandemic and uncertainties raised a turmoil in the market and a cooling of the economy. Therefore, there has been a reduction in demand for flights. Aiming to maintain adequate levels of liquidity, Management is negotiating postponement of payments to lessors and suppliers and suspended all non-urgent expenditures.

Significant accounting policies

Significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2020
Disclosure of significant accounting policies [abstract]
Basis for consolidation	Consolidation The consolidated financial statements include information about the Company and its subsidiaries in which Azul held direct or indirect control. Control of a subsidiary is achieved when Azul is exposed, or has rights, to variable returns in such subsidiaries and have the power to influence the investee’s operating and financial decisions. The financial information of the subsidiaries has been prepared using the same accounting policies as the Company. All related party assets and liabilities, equity, income, expenses and cash flows related to transactions between related parties are eliminated in full in the consolidation process.
Business Combinations	Business combinations The Company accounts for business combinations using the acquisition method. The cost of an acquisition is measured as the sum of the consideration transferred, which is measured at acquisition date fair value. Acquisition-related costs are expensed as incurred. In the acquisition of a business, Management assesses the assets acquired and liabilities assumed in order to classify and allocate them according to the contractual terms, economic circumstances and relevant conditions at the acquisition date. Goodwill is initially measured as the excess of the consideration transferred over the fair value of the net assets acquired (identifiable assets and liabilities assumed, net). After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill is allocated to each of the cash-generating units that are expected to benefit from the acquisition.
Cash and cash equivalents	Cash and cash equivalents This group includes cash balances, bank deposits and short-term investments with immediate liquidity, which are readily convertible into a known amount of cash with an insignificant risk of change in value. Financial investments classified in this group are measured at fair value through profit or loss.
Short-term investments	Short-term investments In the presentation and measurement of financial assets, the Company considers the provisions of IFRS 9 – "Financial Instruments" which determines that financial assets shall be initially measured at fair value less costs directly attributable to their acquisition. In turn, the subsequent measurement is divided into two categories: 4.4.1 Amortized cost Short-term investments are measured at amortized cost when all the following conditions are met: • The Company plans to hold the financial asset in to collect cash flows set forth in contract; • Contractual cash flows represent solely payments of interest and principal (“SPPI”); and • The Company did not opt for the fair value methodology in order to eliminate measurement inconsistencies named “accounting mismatch”. 4.4.2 Fair value • Through comprehensive income : short-term investments shall be measured at fair value through comprehensive income when both of the following conditions are met: (i) the Company plans to hold the financial asset to collect cash flows set forth in contract and sell the asset; and (ii) contractual cash flows represent SPPI; • Through profit or loss : it is considered to be a residual category, i.e. the Company does not plan to hold the financial asset to collect cash flows set forth in contract and/or sell the asset, this shall be measured at fair value through profit or loss. Financial instruments designated at fair value through profit or loss are designed to eliminate or significantly reduce an accounting mismatch and are therefore measured at fair value.
Accounts receivable	Accounts receivable These are measured based on the invoiced amount, net of expected losses on receivables, and approximate the fair value given their short-term nature. The allowance for expected losses on receivables is measured by applying the simplified approach, through the use of historical data, projecting the expected loss over the life of the contract and no longer based on the historical loss incurred, by segmenting the receivables portfolio into groups that have the same pattern of collection and according to the respective maturities. Additionally, for certain cases, the Company carries out individual analyses to assess the risks of collection of the receivables.
Aircraft sublease receivables	Aircraft sublease receivables The sublease receivable is a transaction whereby the lessee subleases the asset that is the subject of a lease to a third party, thus becoming an intermediate lessor. IFRS 16 – Leases, requires an intermediate lessor to classify the sublease as finance or operating. Considering that the contracts entered into by the Company up to December 31, 2020 cover most of the term of the head lease, these were accounted for as follows: • Derecognition of the right-of-use assets related to the head lease and recognition of the rights arising from the sublease contracts at present value; • Recognition of any difference between the right-of-use assets written off and the rights arising from the sublease contract at present value in profit or loss for the year; • Maintenance of the lease obligations of the host contract in the statement of financial position; • Recognition of financial income over the term of the sublease; and • Recognition of financial expenses relating to obligations of the host lease contract.
Inventories	InventoriesInventory balances mainly comprise materials for maintenance and replacement of parts. Inventories are measured at average acquisition cost plus expenses such as non-recoverable taxes, customs expenses incurred in the acquisition, and expenses with transportation to the warehouse. Expenses with transfers between operational bases are not capitalized, if incurred. Provisions for obsolescence of inventories are recorded for items not expected to be realized.
Assets held for sale	Assets held for saleAssets held for sale are measured at the lower of their carrying amount and fair value, less costs to sell, and are not depreciated or amortized. Such items are only classified under this line item when the sale is highly probable and they are available for immediate sale in their present conditions. At December 31, 2020, the Company did not have items classified in this category. The item previously classified under this line item returned to the operations.
Security deposits and maintenance reserves	Security deposits and maintenance reserves 4.9.1 Security deposits Security deposits are represented by amounts deposited by the Company to the lessors of aircraft, as required at the inception of the lease, as guarantee for the fulfillment of the lease contract. Security deposits are denominated in U.S. dollars, do not bear interest and are not reimbursable at the end of the contracts. 4.9.2 Maintenance reserves Certain master lease agreements provide that we pay maintenance reserves to aircraft lessors to be held as collateral in advance of the performance of major maintenance activities. Maintenance reserve deposits are reimbursable to us upon completion of the maintenance event in an amount equal to the lower of: • the amount of the maintenance reserve held by the lessor associated with the specific maintenance event or; • the costs related to the specific maintenance event. Substantially all of these maintenance reserve payments are calculated based on a utilization measure, such as flight hours or cycles, and are used solely to collateralize the performance of maintenance by the lessor. At the reporting date we assess whether the maintenance reserve payments required by the master lease agreements are expected to be recovered through the performance of qualifying maintenance on the leased assets. We assess recoverability of amounts currently on deposit with a lessor by comparing them to the amounts that are expected to be reimbursed at the time of the next maintenance event. Maintenance deposits expected to be recovered are held in assets, and the amounts identified as non-recoverable are considered as maintenance costs. Aircraft maintenance reserves are classified as current or non-current depending on the dates when the related maintenance is expected to be performed.
Income tax and contribution	Income tax and contribution 4.10.1 Current taxes In Brazil, current taxes comprise corporate income tax (“IRPJ”) and social contribution on profit (“CSLL”), which are calculated monthly based on the taxable profit, after offsetting tax losses carryforward, limited to 30% of the taxable profit. A 15% rate is applied to that base, plus 10% for IRPJ and 9% for CSLL. The income from foreign subsidiaries is subject to taxation in accordance with the rates and legislation in force. In Brazil such income is taxed in accordance with Law No. 12,973/14. 4.10.2 Deferred taxes Deferred taxes represent credits and debits on tax losses carryforward, as well as temporary differences between the tax and accounting bases. Deferred tax assets and liabilities are classified as non-current. An impairment loss on these assets is recognized when the Company's internal studies indicate that the future use of these credits is not likely. Deferred tax assets and liabilities are presented net if there is a legally enforceable right to off-set tax liabilities against tax assets, and if they are related to taxes levied by the same tax authority on the same taxable entity. Therefore, for presentation purposes, balances of tax assets and liabilities, which do not meet the legal criteria for realization, are disclosed separately. Deferred tax assets and liabilities shall be measured at the rates that are expected to be applicable in the period in which the asset is realized or the liability is settled, based on the enacted tax rates at the reporting date. The projections of future taxable profits on tax losses carryforward are prepared based on the business plans and are reviewed and approved annually by the Board of Directors. On January 1, 2019, the interpretation of IFRIC 23 – Uncertainty over Income Tax Treatments, became effective, addressing the application of recognition and measurement requirements when there is uncertainty over income tax treatments. The Company analyzed relevant tax decisions of higher courts and whether they conflict in any way with the positions adopted by the Company. For known uncertain tax positions, the Company reviewed the corresponding legal opinions and legal case and did not identify impacts to be recorded, since it concluded that the tax authorities are not likely to accept the positions adopted. The Company will periodically evaluate the positions assumed in which there are uncertainties about the tax treatment adopted and will set up a provision when applicable.
Property and equipment	Property and equipment Property and equipment, including rotable components (replacement parts), are stated at acquisition cost. Loan and financing costs are recorded as part of the costs of property and equipment in progress considering the weighted average rate of loans and financing in force at the capitalization date. Depreciation is calculated according to the estimated economic useful life of each asset using the straight-line method. The estimated economic useful lives, residual values and depreciation methods are reviewed annually and the effects of any changes in estimates are accounted for prospectively. The carrying amount of property and equipment is tested annually for impairment when facts or changes in circumstances indicate that the carrying amount is greater than the estimated recoverable amount. In turn, the carrying amount of the aircraft is tested for impairment annually, even if there are no circumstances that indicate the existence of impairment. An item of property and equipment is derecognized upon disposal or when no future economic benefits are expected from the continued use of the asset. Any gains or losses arising on the sale or derecognition of an item are determined by the difference between the amount received on the sale and the carrying amount of the asset and are recognized in statement of operations. The Company receives credits from manufacturers when purchasing certain aircraft and engines, which can be used to pay for maintenance services. These credits are recorded as a reduction of the acquisition cost of the aircraft and related engines. Additionally, the Company adopts the following treatment for the groups below: 4.11.1 Lease contracts IFRS 16 – Leases, establishes the principles for the recognition, measurement, presentation and disclosure of lease transactions and requires lessees to account for all leases in accordance with a single balance sheet model. The standard includes two exemptions from recognition for lessees – leases of “low value” assets and short-term leases, that is, leases with a term of 12 months or less. At the inception of the lease, the lessee recognizes a liability to make payments (a lease liability) and an asset representing the right to use the underlying asset over the lease term (a right-of-use assets). Lessees must separately recognize interest expense on the lease liability and depreciation expense for the right-of-use assets. Lessees must also reassess the lease liability in the event of certain events, for example, a change in the lease term, a change in future lease payment flows as a result of a change in an index or rate used to determine such payments. In general, the lessee must recognize the remeasurement amount of the lease liability as an adjustment to the right-of-use assets. In determining the discount rate, the Company primarily used those contracted in funding operations that took place close to the date of start and/or modification of lease contracts, in the Brazilian and U.S. markets. For operations in the Brazilian market, the Company converted the cost of funding to the equivalent of one transaction in U.S. dollars, adjusting this according to the country risk and the interest rate differential between Brazil and the United States of America. Thus, it was concluded that the built-in inflationary effects are very low, in addition to the fact that 99.4% of the Company's lease transactions are denominated in U.S. dollar. 4.11.2 Sale and leaseback transactions First, sale and leaseback transactions are analyzed within the scope of IFRS 15 – Revenue from Contracts with Customers, in order to verify whether the performance obligation has been satisfied, and therefore to account for the sale of the asset. If this requirement is not met, it is a financing with the asset given as guarantee. If the requirements related to the performance obligation set out in IFRS 15 are met, the Company measures a right-of-use assets arising from the sale and leaseback transaction in proportion to the carrying amount of the asset related to the right-of-use assets retained by the Company. Accordingly, only the gains or losses related to the rights transferred to the buyer-lessor are recognized. 4.11.3 Componentization of aircraft At the receipt and initial recognition of aircraft and/or right-of-use assets, the Company allocates the total cost of the aircraft between five major components; airframe, auxiliary power unit (“APU”), landing gear and two engines. The economic useful life is the period extending up to the next heavy maintenance or structural check or the remaining useful life of the aircraft/engines or lease contract, whichever is shorter. 4.11.4 Capitalization of heavy maintenance events The Company has maintenance contracts for its engines that cover all significant maintenance events. Subsequent heavy maintenance events, which increase the useful lives of assets, are capitalized and recognized as property and equipment or in addition to the right-of-use assets. They are subsequently depreciated during the respective period of use or until the end of the lease. Repairs and other routine maintenance are recognized in statement of operations during the year in which they are incurred. Additionally, the Company also has “power-by-the-hour” contracts, in which the amounts due to maintenance providers are calculated based on the hours flown, at the time of the maintenance event. 4.11.5 Recognition of contractual obligations relating to return of aircraft (asset retirement obligation) The costs resulting from the maintenance events that will be carried out immediately before the return of the aircraft to the lessors, defined as restoration events, upon the receipt of the aircraft, are recognized at present value, increasing the value of the asset as a balancing item to an obligation, as long as they can be reasonably estimated. Assets are depreciated on a straight-line basis over the lease contract term, while liabilities are updated by interest rates and exchange effects. 4.11.6 Advance payments for acquisition of aircraft Property and equipment prepayments for aircraft acquisition are recorded, including interest and financial charges incurred during the aircraft manufacturing phase and improvements to third-party assets.
Lease contracts	4.11.1 Lease contracts IFRS 16 – Leases, establishes the principles for the recognition, measurement, presentation and disclosure of lease transactions and requires lessees to account for all leases in accordance with a single balance sheet model. The standard includes two exemptions from recognition for lessees – leases of “low value” assets and short-term leases, that is, leases with a term of 12 months or less. At the inception of the lease, the lessee recognizes a liability to make payments (a lease liability) and an asset representing the right to use the underlying asset over the lease term (a right-of-use assets). Lessees must separately recognize interest expense on the lease liability and depreciation expense for the right-of-use assets. Lessees must also reassess the lease liability in the event of certain events, for example, a change in the lease term, a change in future lease payment flows as a result of a change in an index or rate used to determine such payments. In general, the lessee must recognize the remeasurement amount of the lease liability as an adjustment to the right-of-use assets. In determining the discount rate, the Company primarily used those contracted in funding operations that took place close to the date of start and/or modification of lease contracts, in the Brazilian and U.S. markets. For operations in the Brazilian market, the Company converted the cost of funding to the equivalent of one transaction in U.S. dollars, adjusting this according to the country risk and the interest rate differential between Brazil and the United States of America. Thus, it was concluded that the built-in inflationary effects are very low, in addition to the fact that 99.4% of the Company's lease transactions are denominated in U.S. dollar. 4.11.2 Sale and leaseback transactions First, sale and leaseback transactions are analyzed within the scope of IFRS 15 – Revenue from Contracts with Customers, in order to verify whether the performance obligation has been satisfied, and therefore to account for the sale of the asset. If this requirement is not met, it is a financing with the asset given as guarantee. If the requirements related to the performance obligation set out in IFRS 15 are met, the Company measures a right-of-use assets arising from the sale and leaseback transaction in proportion to the carrying amount of the asset related to the right-of-use assets retained by the Company. Accordingly, only the gains or losses related to the rights transferred to the buyer-lessor are recognized.
Capitalization of heavy maintenance events	4.11.3 Componentization of aircraft At the receipt and initial recognition of aircraft and/or right-of-use assets, the Company allocates the total cost of the aircraft between five major components; airframe, auxiliary power unit (“APU”), landing gear and two engines. The economic useful life is the period extending up to the next heavy maintenance or structural check or the remaining useful life of the aircraft/engines or lease contract, whichever is shorter. 4.11.4 Capitalization of heavy maintenance events The Company has maintenance contracts for its engines that cover all significant maintenance events. Subsequent heavy maintenance events, which increase the useful lives of assets, are capitalized and recognized as property and equipment or in addition to the right-of-use assets. They are subsequently depreciated during the respective period of use or until the end of the lease. Repairs and other routine maintenance are recognized in statement of operations during the year in which they are incurred.
Asset retirement obligation	4.11.5 Recognition of contractual obligations relating to return of aircraft (asset retirement obligation) The costs resulting from the maintenance events that will be carried out immediately before the return of the aircraft to the lessors, defined as restoration events, upon the receipt of the aircraft, are recognized at present value, increasing the value of the asset as a balancing item to an obligation, as long as they can be reasonably estimated. Assets are depreciated on a straight-line basis over the lease contract term, while liabilities are updated by interest rates and exchange effects. 4.11.6 Advance payments for acquisition of aircraft Property and equipment prepayments for aircraft acquisition are recorded, including interest and financial charges incurred during the aircraft manufacturing phase and improvements to third-party assets.
Intangible assets	Intangible assets 4.12.1 Definite useful life Intangible assets acquired are measured at cost at the time of their initial recognition. After initial recognition, intangible assets with definite useful lives, generally software, are stated at cost, less accumulated amortization and accumulated impairment losses, where applicable. Intangible assets generated internally, excluding development costs, are not capitalized and the expense is reflected in the statement of operations for the year in which it was incurred. 4.12.2 Indefinite useful life 4.12.2.1 Goodwill for expected future profitability In this category, the amounts recorded are related to goodwill arising from business combinations of Tudo Azul S.A. (formerly TRIP Linhas Aéreas S.A.) and Azul Conecta Ltda. (formerly Two Táxi Aéreo Ltda.). Goodwill is tested annually by comparing the carrying amount with the recoverable amount of the cash-generating unit. Management makes judgments and establishes assumptions to assess the impact of macroeconomic and operational changes, in order to estimate future cash flows and measure the recoverable amount of assets. No impairment has been recorded to date. 4.12.2.2 Rights of operations in airports (slots) In connection with the acquisition of TudoAzul (former TRIP), slots acquired were recognized at their fair values at the acquisition date and not amortized. The estimated useful life of these rights was considered indefinite due to several factors and considerations, including requirements and authorizations for permission to operate in Brazil and limited availability of usage rights at the most important airports in terms of air traffic volume. The carrying amount of these rights is assessed annually. No impairment has been recorded to date.
Impairment of non-financial assets	Impairment of non-financial assets The Company performs an annual review for impairment indicators in order to assess events or changes in economic, technological, or operating conditions that may indicate that an asset is impaired. To assess the recoverability of an asset, it is necessary to estimate its recoverable amount. The recoverable amount of an asset or cash-generating unit is the higher of its fair value, less costs to sell and its value in use. When the carrying amount of an asset or cash-generating unit exceeds its recoverable amount, a provision for impairment is set up by adjusting the carrying amount. The previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset's recoverable amount. The reversal is limited, so that the carrying amount of the asset does not exceed its recoverable amount, nor does it exceed the carrying amount previously determined, net of depreciation or amortization. The Company operates a single cash-generating unit. In estimating the asset's value in use, estimated future cash flows are discounted to present value, using a pre-tax discount rate that reflects the weighted average cost of capital for the cash-generating unit. Aircraft and engines in operation are tested for impairment, by comparing the net carrying amount with the fair value indicated by specialized publications. After this comparison, Management concluded that there are no losses related to the right-of-use assets recorded in the asset, and therefore no provision for loss on these assets was recorded. As disclosed in Note 1.4, the Company intends to sublease the E1 model aircraft, in accordance with its fleet transformation acceleration plan and, accordingly, a provision for impairment was established. The details and assumptions adopted are also included in that note to financial statements.
Rights and obligations with derivatives	Rights and obligations with derivatives Changes in interest rates, foreign exchange rates and aviation fuel prices expose the Company and its subsidiaries to risks that may affect their financial performance. In order to mitigate such risks, the Company contracts derivative financial instruments that may or may not be designated for hedge accounting and, if so, are classified as cash flow or fair value hedge. 4.14.1 Derivative financial instruments not designated as hedge accounting The Company may contract derivative financial instruments that are not designated as hedge accounting when the objectives of Risk Management do not require such classification. Transactions not designated as hedge accounting present the change in their fair value directly in the financial result. 4.14.2 Derivative financial instruments designated as fair value hedge The instruments designated as fair value hedge aim to protect changes in the fair value of the hedged item, which may be an asset, a liability or a firm commitment. The change in the fair value of a hedge instrument is recognized in the statement of operations, as well as the change in the fair value of the hedged item attributable to the hedged risk. 4.14.3 Derivative financial instruments designated as cash flow hedge The instruments designated as cash flow hedge aim to protect future results arising from changes in interest rates and foreign currency. The effectiveness of the variations is estimated based on statistical correlation methods and by the ratio between the hedge gains and losses and the variation of the hedged costs and expenses. The effective changes in fair value are recognized in equity in “Other comprehensive income (loss)”, until the recognition of the result of the hedged item. The inefficiencies found in each reporting period are recognized in the financial result. Hedge transactions recorded in “Other comprehensive income (loss)” are net of tax effects. 4.14.4 Derecognition and write-off of derivative financial instruments The hedge accounting is discontinued prospectively when the Company and its subsidiaries (i) cancel the hedge relationship; (ii) the derivative instrument expires or is sold, terminated or executed, (iii) when there is low predictability of realization of the hedged item, or (iv) when it no longer qualifies as hedge accounting. If the operation is discontinued, any gains or losses, previously recognized in “Other comprehensive income (loss)” and accumulated in equity up to that date, are immediately recognized in profit or loss for the year.
Loans and financing	Loans and financingLoans and financing are initially recognized at fair value less any directly attributable transaction costs. After initial recognition, these financial liabilities are measured at amortized cost using the effective interest method, with the exception of the embedded derivative contained in the convertible debentures, issued in November 2020, which is measured at fair value through profit or loss.
Accounts payable and other	Accounts payable and otherThese are initially recognized at fair value and subsequently increased, where applicable, by the corresponding charges and monetary and exchange variations incurred up to the end of the reporting period. 4.16.1 Accounts payable – supplier finance Management negotiated with suppliers to extend the payment terms. As a result, the Company signed an agreement with financial institutions to allow the discounting of trade notes receivable from its suppliers. Taking into account that the early receipt with financial institutions is an option for suppliers, this does not generate financial expenses for the Company, and the Company is neither refunded and/nor benefited with discounts from the financial institution due to payment before the maturity date agreed upon with the supplier. There is no change in the bill subordination level in the event of judicial execution.
Air traffic liability	Air traffic liabilityThis represents the Company's obligations to provide air transport services and other ancillary services related to the main obligation with its customers, net of breakage revenue already recognized in the statement of operations, as detailed in Note 20.
Provisions	Provisions 4.18.1 Provision for return of aircraft (asset retirement obligation) Aircraft negotiated under the operating lease modality regularly provide for contractual obligations establishing conditions for return. In these cases, the Company provides for the return costs, since these are present obligations, arising from past events and which will generate future disbursements, which are reliably measured. These expenses basically refer to expenses related to aircraft reconfiguration (interior and exterior), obtaining licenses and technical certifications, verifications of returns, painting, etc., as established in the contract. The estimated cost is initially recognized at present value in right-of-use assets and the balancing item of the provision for aircraft return is recorded in the “Provisions” account. After initial recognition, the liability is updated according to the capital remuneration rate estimated by the Company, with a corresponding entry recorded in the financial result. Any changes in the estimate of expenses to be incurred are recognized prospectively. 4.18.2 Provision for onerous contract Onerous contract is that in which the unavoidable costs of meeting the contractual obligations exceed the economic benefits expected to be received over the same contract. In these cases, the present obligation under the contract is measured and recognized as a provision. However, before a separate provision for onerous contract is established, the Company assesses and recognizes any impairment loss that has occurred in the assets related to that contract in accordance with IAS 36 – Impairment of assets. 4.18.3 Provision for tax, civil and labor risks Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The Company is a party to several legal and administrative proceedings, mainly in Brazil. Assessments of the likelihood of loss in these cases include an analysis of the available evidence, the hierarchy of laws, the available case laws, the most recent court decisions and their significance in the legal system, as well as the assessment of external lawyers. Provisions are revised and adjusted to reflect changes in circumstances, such as the applicable statute of limitations, conclusions of tax inspections or additional exposures identified based on new matters or court decisions.
Employee benefits	Employee benefits 4.19.1 Executive bonus and employee profit sharing The Company's employees are entitled to profit sharing based on certain goals agreed annually, and executives based on statutory provisions proposed by the Board of Directors and approved by the shareholders. The amount of profit sharing is recognized in statement of operations for the year in which the goals are achieved. 4.19.2 Share-based payment The Company offers executives share-based compensation plans to be settled with Company shares, according to which the Company receives services as consideration for stock options and restricted shares. The cost of transactions with executives, settled with equity instruments and with awards, is measured based on the fair value at the date they were granted. To determine the fair value, the Company uses the Black-Scholes option pricing model, as detailed in Note 25. The cost of equity-settled transactions is recognized, together with a corresponding increase in equity, over the period in which the performance and/or service conditions are fulfilled, ending on the date on which the employee acquires the full right to the award (vesting date). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and Management's best estimate of the number of equity instruments that will ultimately vest. The expense or credit in the statement or statement of operations for the period is recognized in “Salaries, wages and benefits” and represents the movement in cumulative expense recognized as at the beginning and end of that year. No expense is recognized for awards that do not ultimately vest, except for awards in which vesting is conditional on a market condition (condition connected to the Company's share price), which are treated as vested irrespective of whether the market conditions are met or not, provided that all other vesting conditions are met. The cost of cash-settled transactions is initially measured at fair value at the grant date. This fair value is expensed over the period up to the maturity date, with the recognition of a corresponding liability. The liability is remeasured at fair value at the reporting date up to the settlement date, with the changes in fair value recognized in the statement of operations for the year under "Salaries, wages and benefits". 4.19.3 Post-employment benefits As of the year ended December 31, 2020, the Company started to recognize actuarial assets and liabilities related to health insurance benefits offered to its employees in accordance with IAS 19 – "Employee Benefits". Actuarial gains and losses are recognized in other comprehensive income based on the actuarial report prepared by independent experts, while the benefits paid directly by the Company, the cost of current service and the cost of interest are recognized in statement of operations for the year.
Treasury shares	Treasury sharesOwn equity instruments that are acquired (treasury shares) are recognized at cost and deducted from equity. No gain or loss is recognized in statement of operations on the purchase, sale, issue or cancellation of these equity instruments. Any difference between the carrying amount and the fair value, if the share is reissued, is recognized in the share premium.
Revenue recognition	Revenue recognition 4.21.1 Passenger, cargo and auxiliary service revenue Passenger revenue is recognized when air transportation is actually provided. Tickets sold but not yet flown are recorded as air traffic liability, representing deferred revenue from tickets sold to be flown on a future date, net of breakage revenue estimate. Breakage revenue consists of calculating, on a historical basis, tickets issued that will expire due to non-use, that is, passengers who have purchased tickets and are very likely not to use them. For the purposes of recognizing this revenue, the average terms are also considered provision of air transport services. At least annually, the calculations are reviewed in order to reflect and capture changes in customer behavior regarding ticket expiration. Other revenues that include charter services, flight rescheduling fees, baggage dispatch and other additional services are recognized along with the primary passenger transport obligation. 4.21.2 Frequent-flyer program revenue – TudoAzul Under the “TudoAzul” program, customers accrue points based on the amount spent on tickets flown. The amount of points earned depends on TudoAzul membership category, market, fare class and other factors, including promotional campaigns. Through historical data, the Company estimates the points that will expire without being used and recognizes the corresponding revenue in the issue of the point (breakage) considering the average exchange period. With some exceptions, points generally expire two years after the date earned regardless of activity in the program member's account. Upon the sale of a ticket, the Company recognizes a portion of ticket sales as revenue when the transportation service occurs and defers a portion corresponding to the points earned under the TudoAzul Program, in accordance with IFRS 15 – Revenue from Contracts with Customers. The Company determines the estimated selling price of the air transportation and points as if each element had been sold on a separate basis and was therefore based on the stand-alone selling price. The Company also sells frequent-flyer program points to customers and partners, including credit card companies, financial institutions and retail companies. The related revenue is deferred and recognized as passenger transport revenue when the points are redeemed and the related transport service occurs, based on the weighted average price of the points sold. Points awarded or sold and not used are recorded in “Air traffic liability”.
Financial income and expenses	Financial income and expensesFinancial income and expenses include interest income on amounts invested, exchange differences on assets and liabilities, changes in the fair value of financial assets measured at fair value through profit or loss, gains and losses on hedge instruments that are recognized in statement of operations, interest on loans and financing, interest on leases, commissions and bank charges, among others. Interest income and expenses are recognized in the statement of operations using the effective interest method.
Earnings (loss) per share	Earnings (loss) per share Basic earnings (loss) per share are calculated by dividing the net income (loss) for the year attributed to the Company's controlling shareholders by the weighted average number of all classes of shares outstanding during the year. Diluted earnings (loss) per share are calculated by adjusting the weighted average number of shares outstanding by instruments potentially convertible into shares, unless these adjustments are not dilutive.
Segment information	The Company regularly manages its business and makes resource allocation decisions considering the existence of only one operating segment, which is why only the information available for the cargo transportation segment is not being disclosed, as there is not a complete set of financial information being commonly prepared.
Significant accounting estimates	The Company continuously revises the assumptions used in its accounting estimates. The effect of revisions to accounting estimates is recognized in the financial statements in the year in which such revisions are made.
New accounting standards and interpretations adopted for the period	New accounting standards and interpretations adoptedOn May 28, 2020, the IASB published an amendment to IFRS 16 – Leases as a result of benefits granted (“lease concessions”) due to the COVID-19 pandemic. In certain renegotiations of its lease contracts, the Company adopted the provisions of said standard and the effects on these consolidated financial statements are immaterial.
New accounting standards and pronouncements not yet adopted	New accounting standards and pronouncements not yet adoptedThere are no other standards and interpretations issued and not yet adopted that may, in Management’s opinion, have a significant impact on the statement of operations or equity disclosed by the Company.
Foreign currency transactions	Foreign currency transactionsForeign currency transactions are recorded at the exchange rate in effect at the date the transactions take place. Monetary assets and liabilities designated in foreign currency are calculated based on the exchange rate in effect at the reporting date, and any difference resulting from currency conversion is recorded under the line item “Foreing currency exchange, net” in the statement of operations for the year.

Operations (Tables)

Operations (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of joint operations [abstract]
Schedule of Equity Interest in Subsidiaries of the Company	The Company’s shareholding structure and operating activities in which its subsidiaries are engaged at December 31, 2020 and 2019 and changes for the year are as follows: % equity interest December 31, Company Type of investment Main activity Country 2020 2019 TudoAzul S.A. Direct Loyalty programs Brazil 100.00 % 100.00 % Azul Linhas Aéreas Brasileiras S.A. (ALAB) Direct Airline operations Brazil 100.00 % 100.00 % TwoTaxi Aéreo Ltda. (Azul Conecta) (a) Indirect Airline operations Brazil 100.00 % — ATS Viagens e Turismo Ltda. Indirect Package holidays Brazil 99.90 % 99.90 % Fundo Garoupa (b) Indirect Exclusive investment fund Brazil — 100.00 % Fundo Safira Indirect Exclusive investment fund Brazil 100.00 % 100.00 % Cruzeiro Participações S.A Indirect Holding of equity interests in other companies Brazil 99.90 % 99.90 % Azul Investments LLP Indirect Funding USA 100.00 % 100.00 % Azul SOL LLC Indirect Aircraft financing USA 100.00 % 100.00 % Azul Finance LLC Indirect Aircraft financing USA 100.00 % 100.00 % Azul Finance 2 LLC Indirect Aircraft financing USA 100.00 % 100.00 % Blue Sabiá LLC Indirect Aircraft financing USA 100.00 % 100.00 % Canela Investments LLC (Canela) Indirect Aircraft financing USA 100.00 % 100.00 % Canela 407 LLC ( c) Indirect Aircraft financing USA — 100.00 % Canela 429 LLC ( c) Indirect Aircraft financing USA — 100.00 % Canela Turbo Three LLC Indirect Aircraft financing USA 100.00 % 100.00 % Global AzulAirProjects, SGPS, S.A. Indirect Equity holoding in other companies Portugal — 45.45 % Daraland S.A. (e) Indirect Holding Uruguay — 100.00 % Encenta S.A. (Azul Uruguai) (e) Indirect Airline operations Uruguay — 100.00 % Azul Saíra LLC (f) Indirect Aircraft financing USA 100.00 % — (a) Subsidiary acquired on May 14, 2020 (see Note 2). (b) Investment fund closed in January 2020. (c) Subsidiaries closed in August 2020. (d) Divestiture in October 2020. (e) Subsidiary closed in December 2020. (f) Subsidiary established on December 7, 2020.
Covid 19 impacts on the consolidated financial statements	aking into consideration the economic scenario and the risks and uncertainties from the impacts of the economic and sanitary crisis unleashed by the COVID-19 pandemic, the following adjustments were recorded during the year: Description of adjustments December 31, 2020 Decrease in lease liabilities (a) 5,701,928 Write-off of right of use (leased property and equipment) (a) (4,799,040) Loss on fair value of conversion right – TAP Bond (b) (637,639) Interest expense on reimbursement to customers (c) (8,800) Effect on profit for the year 256,449 Reclassifications December 31, 2020 Airline traffic liability (c) (212,542) Obligations with reimbursement to customers (c) 212,542 (a) During the year, the Company renegotiated 96% of the aircraft and engine lease contracts. Such renegotiations included the deferral of payments and changes in contractual terms, and as a consequence, it was necessary to apply the requirements for contractual modification contained in IFRS 16 – Leases, which resulted in the reduction of the lease liability and the right-of-use assets, the difference was recognized in the statements of operations for the year. (b) On August 10, 2020, as informed at the Extraordinary General Meeting, due to the crisis caused by the COVID-19 pandemic, the Portugal Government's negotiated an aid of €1.2 billion for the airline TAP with the European Commission, conditional upon, among other factors, eliminating the right to convert senior bonds, since they would not be diluted by the Portugal Government's financial contribution. As a consequence, the elimination of the conversion right resulted in a loss recognized in the consolidated statement of operations of R$637,639, recorded under “Result from related party transactions, net”; and (c) The amounts corresponding to customer reimbursement obligations, provided for in Law No. 14,034/20, resulting from flight cancellation, were reclassified to the line item of reimbursement to customers, in current liabilities, and subsequently adjusted by the National Consumer Price Index (“INPC”).
Breakdown of balances of provision for impairment and onerous liability	December 31, Description 2020 2019 Provision for impairment of ROU (706,614) (1,351,431) Provision for impairment of aircraft and engines (211,062) (171,050) Provision for impairment of rotables (225,797) (509,725) Provision for impairment of inventories (18,334) (14,784) Provision for impairment of other assets (56,741) (28,592) Total provision for impairment of Company assets (1,218,548) (2,075,582) Provision for onerous liabilities (1,340,522) (821,751)
Rollforward of the provision for impairment and onerous liability	Description Impairment of assets Onerous liabilities Total Balance at December 31, 2019 (2,075,582) (821,751) (2,897,333) Foreign currency exchange — (213,280) (213,280) Interest expense – adjustment of the provision for onerous liabilities — (206,011) (206,011) Addtiions of onerous liabilities — (362,426) (362,426) Consumption of aircraft material and rotables / onerous liabilities 272,006 262,946 534,952 Maintenance reserve (20,486) — (20,486) Sale of aircraft 13,123 — 13,123 Renegotiation of lease contracts (lease modification) 581,926 — 581,926 Other 10,465 — 10,465 Balance at December 31, 2020 (1,218,548) (1,340,522) (2,559,070)

Business combinations (Tables)

Business combinations (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about business combination [abstract]
Disclosure of detailed information about business combination	Description Fair value of assets and liabilities Assets Cash and cash equivalents 3,971 Accounts receivable 3,637 Inventories 1,624 Taxes recoverable 1,399 Other assets 458 Property and equipment (a) 74,205 85,294 Liabilities Loans and financing (16,540) Accounts payable (5,764) Salaries, accruals and payroll charges (2,707) Taxes payable (824) Provision for tax, civil and labor risks (b) (1,687) Other liabilities (650) (28,172) Net assets acquired 57,122 Consideration at present value 114,568 Goodwill for expected future profitability 57,446 Cash flows Net cash acquired with subsidiary 3,971 Payment (42,684) Net cash flow from acquisition (38,713) (a) The Company carried out the fair value measurement of property and equipment based on conditions at the acquisition date. Fair value recognized in this line item amounts to R$56,820. (b) The Company recognized R$500 of fair value from possible contingencies.

Significant accounting polici_2

Significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of significant accounting policies [abstract]
Disclosure of operating segment	% net revenue December 31, Parameters 2020 2019 Qualitative Passenger service n/a n/a Quantitative Passenger service 86.7 % 94.9 % Cargo service 12.7 % 4.7 % Other revenue 0.6 % 0.4 %
Exchange rates in Brazilian reais	The exchange rates in Brazilian reais at the date of these consolidated financial statements are as follows: Final rate Average rate December 31, December 31, Description 2020 2019 2018 2020 2019 2018 U.S. dollar 5.1967 4.0307 3.8748 5.1578 3.9461 3.6558 Euro 6.3779 4.5305 4.4390 5.8989 4.4159 4.3094

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
	Dec. 31, 2020
Cash and cash equivalents [abstract]
Cash and Cash Equivalents	December 31, Description Effective interest rate p.a. 2020 2019 Cash and bank deposits 465,054 308,958 Cash equivalents Bank Deposit Certificate – CDB 1.9% 2,216,592 156,593 Debentures 1.9% 361,183 1,160,795 Exclusive investment funds 1.2% 21,986 21,534 3,064,815 1,647,880

Short and Long -Term Investme_2

Short and Long -Term Investments (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of short and long term investments [Abstract]
Short and long term investments	December 31, Description Effective interest rate p.a. 2020 2019 Exclusive investment funds 1.2% 62,972 40,766 Investment funds 0.7% 28,847 21,243 TAP Bonds 6.7% 854,462 1,236,828 Other investments — — 160,871 946,281 1,459,708 Current 91,819 62,009 Non-current 854,462 1,397,699

Accounts Receivables (Tables)

Accounts Receivables (Tables)	12 Months Ended
	Dec. 31, 2020
Trade and other receivables [abstract]
Disclosure of trade and other receivables and allowance for doubtful accounts	December 31, Description 2020 2019 Local currency Credit card companies 394,895 768,839 Cargo and travel agencies 146,854 127,509 Azul Viagens 56,870 88,410 TudoAzul program 65,522 56,485 Other 52,713 59,715 Total local currency 716,854 1,100,958 Foreign currency Credit card companies 8,927 4,439 Maintenance reserve 112,170 6,726 Airline partner companies 24,910 17,598 Insurance 7,150 24,112 Other 21,502 26,749 Total foreign currency 174,659 79,624 Total 891,513 1,180,582 Allowance for expected losses (16,131) (14,716) Total net 875,382 1,165,866
Schedule of Aging of Accounts Receivables	The breakdown of accounts receivable by maturity, net of allowance for expected losses, is as follows: December 31, Description 2020 2019 Current (not past due) Up to 30 days 476,378 734,218 31 to 60 days 69,729 110,392 61 to 90 days 46,007 82,142 91 to 180 days 86,215 170,182 181 to 360 days 65,386 46,945 Total current 743,715 1,143,879 Past due Up to 30 days 104,377 7,429 31 to 60 days 8,371 4,149 61 to 90 days 4,228 5,720 91 to 180 days 5,077 111 181 to 360 days 6,178 563 Over 360 days 3,436 4,015 Total past due 131,667 21,987 Total 875,382 1,165,866
Schedule of Changes in the Allowance for Doubtful Accounts	Changes in the allowance for expected losses are as follows: December 31, Description 2020 2019 Balances at the beginning of the year (14,716) (12,723) Business combination – Azul Conecta (380) — (Inclusions) and reversals (3,205) (1,993) Write-off of uncollectible amounts 2,170 — Balances at the end of the year (16,131) (14,716)

Aircraft sublease receivables (

Aircraft sublease receivables (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of aircraft sublease receivables [Abstract]
Disclosure of maturity analysis of operating lease payments	December 31, Description 2020 2019 2020 — 98,152 2021 142,932 86,657 2022 62,547 47,136 2023 65,040 44,154 2024 65,188 44,154 After 2024 36,783 20,588 Gross lease receivables 372,490 340,841 Accrued interest (59,553) (61,337) Net lease receivables 312,937 279,504 Current 123,455 75,052 Non-current 189,482 204,452

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2020
Classes of current inventories [abstract]
Schedule of Inventories	December 31, Description 2020 2019 Maintenance parts and materials 442,161 288,824 Flight attendance and uniforms 9,579 5,768 Provision for loss on inventories (49,153) (33,727) Total net 402,587 260,865
Schedule of Provision losses on inventories	Changes in the provision for losses on inventories: December 31, Description 2020 2019 Balances at the beginning of the year (33,727) (15,935) Additions (16,438) (19,815) Write-offs 1,012 2,023 Balances at the end of the year (49,153) (33,727)

Security deposits and mainten_2

Security deposits and maintenance reserves (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of security deposits and maintenance reserves [Abstract]
Schedule of Security Deposits and Maintenance Reserve Deposits	The changes in security deposits and maintenance reserves for the years ended December 31, 2020 and 2019 is as follows: Description Maintenance reserve Security deposit Total Balances at December 31, 2018 1,321,490 225,230 1,546,720 Additions 343,727 37,614 381,341 Write-offs (8,417) — (8,417) Reimbursements (210,356) (113,137) (323,493) Foreing exchanges variations 52,454 2,928 55,382 Balances at December 31, 2019 1,498,898 152,635 1,651,533 Business combination – Azul Conecta — 298 298 Additions 313,950 93,739 407,689 Impairment (20,486) — (20,486) Write-offs (419,843) — (419,843) Reimbursements (476,588) (43,519) (520,107) Foreing exchanges variations 425,715 29,243 454,958 Balances at December 31, 2020 1,321,646 232,396 1,554,042 Current 318,460 — 318,460 Non-current 1,003,186 232,396 1,235,582

Taxes Recoverable (Tables)

Taxes Recoverable (Tables)	12 Months Ended
	Dec. 31, 2020
Taxes Recoverable [Abstract]
Taxes recoverable	December 31, 2020 2019 IRPJ and CSSL recoverable 4,443 11,357 Withholding income tax 3,470 5,082 PIS and COFINS recoverable 123,005 323,457 ICMS recoverable 1,765 7,002 INSS recoverable 519 27,904 Other taxes recoverable 504 9,467 133,706 384,269 Current assets 133,706 139,668 Non-current assets — 244,601

Prepaid expenses (Tables)

Prepaid expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Prepayments and accrued income [abstract]
Schedule of Prepaid Expenses	December 31, Description 2020 2019 Insurance premiums 49,428 47,506 Expenses with leased aircraft and engines 28,351 39,989 Guarantee commission 40,678 16,332 Other 36,085 57,792 Total 154,542 161,619 Current 136,350 139,403 Non-current 18,192 22,216

Income tax and social contrib_2

Income tax and social contribution (Tables)	12 Months Ended
	Dec. 31, 2020
Major components of tax expense (income) [abstract]
Schedule of Breakdown of Deferred Income Tax and Social Contribution	Reconciliation of deferred tax assets (liabilities) Description December 31, Statement of operations December 31, Temporary differences Fair value of TAP Bonds (243,288) 217,156 (26,132) Financial instruments (201,738) 79,778 (121,960) Deferred revenue – TudoAzul Program (148,963) 31,423 (117,540) Depreciation of aircraft and engines (48,899) (4,283) (53,182) Foreing exchanges variations (16,498) 16,498 — Fair value of other investments (21,963) 21,963 — Active temporary difference (*) 421,563 (102,749) 318,814 (259,786) 259,786 — Tax loss and CSSL negative base Tax loss 12,699 (12,699) — Negative social contribution base 4,571 (4,571) — 17,270 (17,270) — Total (242,516) 242,516 — (*) Deferred taxes assets recognized up in the limit of the deferred taxes liabilities recognized.
Schedule of Income Tax and Social Contribution	Reconciliation of the effective income tax rate Years ended December 31, Description 2020 2019 2018 Profit (loss) before income tax and social contribution (11,077,214) (2,536,265) (452,926) Combined nominal tax rate 34 % 34 % 34 % Taxes calculated at nominal rates 3,766,253 862,330 153,995 Adjustments to determine the effective rate Profits from investments not taxed abroad — (10,341) 3,050 (Unrecorded) benefit on tax loss carryforwards (3,257,190) (880,375) (400,187) Offset against PERT (a) — 84,711 — Permanent differences (244,011) 76,958 65,971 Other (22,547) (104) (5,634) 242,505 133,179 (182,805) Current income tax and social contribution (11) (2,228) (11,224) Deferred income tax and social contribution 242,516 135,407 (171,581) Income tax and social contribution credit (expense) 242,505 133,179 (182,805) Effective rate 2 % 5 % (40) % (a) Tax Recovery Program (“PERT”)
Schedule of Income Tax Losses Offsetting Against Future Taxable Profits	The Company has tax losses that are available indefinitely to offset 30% of future taxable profits, as follows: December 31, Description 2020 2019 2018 Tax loss carryfowards – net 5,751,867 1,971,779 1,829,244 Income tax loss carryforwards (25%) 1,437,967 492,945 457,311 Social contribution on tax loss carryforwards (9%) 517,668 177,460 164,632

Property and equipment (Tables)

Property and equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property, plant and equipment [abstract]
Schedule of Property and Equipment	Description Weighted average rate (p.a.) December 31, Business combination – Acquisitions Disposals/write-offs Contractual modifications Transfers (a) December 31, Cost Aircraft and engines 2,706,529 97,814 259,986 (689,771) — (76,897) 2,297,661 Building and leasehold improvements 296,728 — 22,433 (2,104) (975) 169,165 485,247 Equipment and facilities 176,814 780 21,324 (12,867) — (4,957) 181,094 Other – property and equipment 24,297 294 818 — — 2,599 28,008 Construction in progress 171,839 — 40,464 (4,485) — (174,188) 33,630 Advance payments for acquisition of aircraft 84,578 — 20,800 (13,434) — — 91,944 3,460,785 98,888 365,825 (722,661) (975) (84,278) 3,117,584 Depreciation Aircraft and engines 8% (612,124) (24,214) (207,908) 230,855 — (11,345) (624,736) Building and leasehold improvements 17% (78,001) — (50,795) 35 — — (128,761) Equipment and facilities 12% (97,990) (326) (21,191) 11,786 — (196) (107,917) Other – property and equipment 11% (16,654) (142) (2,792) — — (18) (19,606) (804,769) (24,682) (282,686) 242,676 — (11,559) (881,020) Total property and equipment 2,656,016 74,206 83,139 (479,985) (975) (95,837) 2,236,564 Impairment (687,176) — — 250,318 — — (436,858) Total property and equipment, net 1,968,840 74,206 83,139 (229,667) (975) (95,837) 1,799,706 Description Weighted average rate (p.a.) December 31, Acquisitions Disposals/write-offs Transfers December 31, Cost Aircraft and engines 2,007,825 712,679 (222,745) 208,770 2,706,529 Buildings and leasehold improvements 146,315 124,181 (3,118) 29,350 296,728 Equipment and facilities 130,655 48,101 (2,091) 149 176,814 Other – property and equipment 22,035 2,267 (5) — 24,297 Construction in progress 81,023 319,275 — (228,459) 171,839 Advance payments for acquisition of aircraft 112,923 55,649 (45,081) (38,913) 84,578 2,500,776 1,262,152 (273,040) (29,103) 3,460,785 Depreciation Aircraft and engines 9% (509,296) (177,372) 74,544 — (612,124) Buildings and leasehold improvements 17% (53,030) (25,157) 186 — (78,001) Equipment and facilities 13% (81,412) (17,265) 687 — (97,990) Other – property and equipment 8% (14,799) (1,860) 5 — (16,654) (658,537) (221,654) 75,422 — (804,769) Total property and equipment 1,842,239 1,040,498 (197,618) (29,103) 2,656,016 Impairment — (687,176) — — (687,176) Total property and equipment, net 1,842,239 353,322 (197,618) (29,103) 1,968,840 (a) Balance of aeronautical material transferred to “Inventories” in amount of R$110,937 for the year ended December 31, 2020. 14.2 RIGHT-OF-USE ASSETS Description Weighted average rate (p.a.) December 31, Acquisitions (a) Disposals/write-offs Contractual modifications Transfers (b) December 31, Cost Aircraft 12,071,427 2,197,881 (25,741) (4,736,892) 68,701 9,575,376 Engines and simulators 484,597 86,995 (38,160) (6,515) 1,393 528,310 Restoration of aircraft and engines 423,194 290,785 (116,968) — — 597,011 Maintenance of aircraft and engines 1,374,925 168,513 (82,887) (54,658) 8,614 1,414,507 Properties 114,167 — — — — 114,167 Other 42,391 109 (12,065) — — 30,435 14,510,701 2,744,283 (275,821) (4,798,065) 78,708 12,259,806 Depreciation Aircraft 8% (4,538,684) (954,452) 25,741 — (31,220) (5,498,615) Engines and simulators 14% (231,625) (67,191) 35,595 — (1,392) (264,613) Restoration of aircraft and engines 9% (145,546) (37,315) — — — (182,861) Maintenance of aircraft and engines 27% (549,869) (368,476) 32,729 — (6,709) (892,325) Properties 9% (64,042) (10,565) — — — (74,607) Other 16% (34,776) (6,717) 12,064 — — (29,429) (5,564,542) (1,444,716) 106,129 — (39,321) (6,942,450) Total rigth-of-use assets 8,946,159 1,299,567 (169,692) (4,798,065) 39,387 5,317,356 Impairment (1,361,356) — 72,815 581,926 — (706,615) Total rigth-of-use assets, net 7,584,803 1,299,567 (96,877) (4,216,139) 39,387 4,610,741 Description Weighted average rate (p.a.) December 31, Acquisitions Disposals/write-offs Transfers December 31, Cost Aircraft 8,232,475 4,031,436 (118,193) (74,291) 12,071,427 Engines and simulators 336,731 147,866 — — 484,597 Restoration of aircraft and engines 283,542 139,652 — — 423,194 Maintenance of aircraft and engines 923,517 534,502 (88,102) 5,008 1,374,925 Properties 105,754 8,413 — — 114,167 Other 28,766 14,475 (850) — 42,391 9,910,785 4,876,344 (207,145) (69,283) 14,510,701 Depreciation Aircraft 11% (3,691,143) (928,018) 52,589 27,888 (4,538,684) Engines and simulators 11% (192,902) (38,723) — — (231,625) Restoration of aircraft and engines 12% (112,043) (33,503) — — (145,546) Maintenance of aircraft and engines 33% (290,617) (304,356) 45,104 — (549,869) Properties 12% (51,604) (12,438) — — (64,042) Other 77% (13,251) (22,141) 616 — (34,776) (4,351,560) (1,339,179) 98,309 27,888 (5,564,542) Total rigth-of-use assets 5,559,225 3,537,165 (108,836) (41,395) 8,946,159 Impairment — (1,361,356) — — (1,361,356) Total rigth-of-use assets, net 5,559,225 2,175,809 (108,836) (41,395) 7,584,803 (a) ROU acquisitions are net of credits obtained from aircraft and engine manufacturers. (b) Balance of available for sale transferred to “Property and equipment” in amount of R$54,487.

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Dec. 31, 2020
Intangible assets and goodwill [abstract]
Schedule of rollforward of intangible assets	Breakdown and changes in intangible assets: Consolidated Description Weighted average rate (p.a.) December 31, Acquisitions Disposals/write-offs December 31, Cost Goodwill for expected future profitability (a) — 753,502 57,446 — 810,948 Airport operating license (b) — 82,196 — — 82,196 Software — 489,904 109,587 (6,157) 593,334 1,325,602 167,033 (6,157) 1,486,478 Amortization Software 16% (238,118) (78,151) 59 (316,210) (238,118) (78,151) 59 (316,210) Total intangible assets, net 1,087,484 88,882 (6,098) 1,170,268 Consolidated Description Weighted average rate (p.a.) December 31, Additions Disposals/write-offs December 31, Cost Goodwill for expected future profitability (a) — 753,502 — — 753,502 Airport operating license (b) — 82,196 — — 82,196 Software — 357,457 132,447 — 489,904 1,193,155 132,447 — 1,325,602 Amortization Software 17% (176,599) (61,519) — (238,118) (176,599) (61,519) — (238,118) Total intangible assets, net 1,016,556 70,928 — 1,087,484 (a) Goodwill for expected future profitability arises from the acquisition of Tudo Azul S.A. in 2012 and Azul Conecta in 2020. The amount of R$810,948 refers to the consideration transferred, less the fair value of assets acquired and liabilities assumed, net. (b) As part of the allocation of the purchase price for the acquisition of Tudo Azul S.A., the Company recognized the value of operating licenses for certain airports and has an indefinite useful life.
Disclosure of intangible assets with indefinite useful life	Sensitivity analysis of the impairment test of intangible assets without a finite useful life December 31, 2020 2019 Goodwill for expected future profitability Airport operating license Goodwill for expected future profitability Airport operating license Carrying amount 810,948 82,196 753,502 82,196 Carrying amount – CGU 6,410,447 — 9,553,643 — Value in use 32,227,871 1,726,007 34,595,386 3,219,401 Pre-tax discount rate 10.3% 8.5% 8.8% 9.8% Growth rate in perpetuity 3.0% 3.0% 3.4% 3.4%

Loans and financing (Tables)

Loans and financing (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about borrowings [abstract]
Schedule of Loans and Financing	Breakdown and changes in loans and financing Description Nominal rate Effective rate Maturity December 31, Proceeds Variarion of conversion right Debt acknowled-gment Business combination – Azul Conecta Payment of principal Payment of interest Interest incurred Foreing exchanges variations Amortized cost December 31, In foreign currency – US$ Working capital 1% to 5.9% 6.2 % Oct/24 1,727,882 4,682 — — — (907) (137,795) 132,033 504,766 6,183 2,236,844 Debentures 6.0% to 7.5% 20.5 % Oct/25 — 1,702,155 755,354 — — — — 25,116 (82,358) 19,437 2,419,704 Aircraft and engines 4.7% to 6.0% Libor 3M + 2.4% to 2.9% Libor 6M + 2% 5.6 % Mar/29 896,232 — — — — (111,703) (23,880) 54,178 268,404 1,474 1,084,705 In local currency – R$ Working capital 5.0% to 10.7% CDI + 2% to 6% TJLP + 5% 4.1 % Dec/23 37,355 229,386 — 527,375 4,975 (58,746) (3,366) 39,365 — 107 776,481 Debentures CDI + 3% 2.9 % Dec/23 692,407 — — — — — (18,459) 24,238 — (7,282) 690,904 Aircraft and engines 6.0% to 6.5% Selic +2.8% to 5.5% TJLP +5% 6.1 % May/25 164,280 — — — 11,565 (21,052) (10,241) 7,649 — (325) 151,876 Total in R$ 3,518,156 1,936,223 755,354 527,375 16,540 (192,408) (193,741) 282,609 690,812 19,594 7,360,514 Current 481,227 858,332 Non-current 3,036,929 6,502,182 Description Nominal rate p.a. Effective rate p.a. Maturity December 31, Proceeds Payment of principal Payment of interest Interest incurred Exchange differences Foreing exchanges variations December 31, In foreign currency – US$ Working capital LIBOR + 0.88% a 5.90% 5.7 % Oct/24 1,656,947 — (350) (96,970) 94,610 70,629 3,016 1,727,882 Aircraft and engines LIBOR +2.55% a 6.07% US Treasury + 3.25% 5.5 % Mar/29 100,042 813,328 (43,795) (24,047) 28,076 19,386 3,242 896,232 In local currency – R$ Working capital 5.00% 125% a 126% do CDI 7.2 % Dec/23 75,757 — (37,752) (5,059) 3,520 — 889 37,355 Debentures 117% e 122% do CDI 6.8 % Dec/23 730,519 — (64,345) (26,784) 49,808 — 3,209 692,407 Aircraft and engines 6.00% a 6.50% SELIC +5.46%a.a. 4.5 % May/25 192,861 — (29,864) (12,738) 13,977 — 44 164,280 Total in R$ 2,756,126 813,328 (176,106) (165,598) 189,991 90,015 10,400 3,518,156 Current 158,813 481,227 Non-current 2,597,313 3,036,929
Schedule of amortization of long-term debt	Schedule of amortization of long-term debt December 31, Description 2020 2019 2021 — 539,378 2022 743,137 359,943 2023 914,343 277,465 2024 2,264,451 1,764,136 2025 2,551,701 62,164 After 2025 28,550 33,843 6,502,182 3,036,929
Covenants	As at December 31, 2020, the Company has loans and financing subject to covenants related to the Company’s indebtedness level and the debt service coverage ratio. Covenant related to: Indicators for the measurement Frequency of measurement 9t th issue of debentures 10 th issue of debentures (i) Adjusted debt service coverage ratio (DSCR) equal to or greater than 1.2 (ii) Financial leverage less than or equal to 6.5. Annual Aircraft financing (i) Adjusted debt service coverage ratio (DSCR) equal to or greater than 1.2 (ii) financial leverage less than or equal to 5.5. Quarterly/Annual Aircraft financing (i) Adjusted debt service coverage ratio (DSCR) equal to or greater than 1.2 (ii) financial leverage less than or equal to 6.5. Annual

Lease liabilities (Tables)

Lease liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Lease liabilities [abstract]
Rollforward of lease liabilities	Changes in lease liabilities Description Average payment term in years Weighted average rate December 31, Additions Contractual modifications Payments Interest incurred Write-offs Foreign exchanges variations December 31, Lease without purchase option: Aircraft and engines 7.89 22.19% 11,046,134 2,329,443 (5,327,038) (1,162,869) 1,431,944 (4,912) 3,350,441 11,663,143 Other 2.12 8.11% 72,230 — — (21,741) 6,881 — (92) 57,278 Lease with purchase option: Aircraft and engines 5.54 13.56% 988,257 — (374,890) (231,417) 130,326 — 288,115 800,391 Total in R$ 12,106,621 2,329,443 (5,701,928) (1,416,027) 1,569,151 (4,912) 3,638,464 12,520,812 Current liabilities 1,585,233 2,272,349 Non-current liabilities 10,521,388 10,248,463 Description Average payment term in years Weighted average rate December 31, Additions Payments Interest incurred Write-offs Foreign exchanges variations December 31, Lease without purchase option: Aircraft and engines 8.26 8.20% 7,725,397 4,153,314 (1,865,472) 726,613 (24,775) 331,057 11,046,134 Other 2.90 7.64% 82,545 22,888 (39,008) 8,628 (279) (2,544) 72,230 Aircraft and engines 4.24 6.15% 1,111,804 32,188 (269,988) 70,767 — 43,486 988,257 Total in R$ 8,919,746 4,208,390 (2,174,468) 806,008 (25,054) 371,999 12,106,621 Current liabilities 1,237,909 1,585,233 Non-current liabilities 7,681,837 10,521,388
Schedule of lease amortization	Schedule of lease amortization December 31, Description 2020 2019 2020 — 2,481,457 2021 2,498,180 2,335,363 2022 3,206,765 2,406,701 2023 3,641,808 1,875,308 2024 3,610,754 1,560,055 After 2024 14,211,063 5,580,166 Minimum lease payment 27,168,570 16,239,050 Financial charges (14,647,758) (4,132,429) Present value of minimum lease payments 12,520,812 12,106,621

Accounts payable (Tables)

Accounts payable (Tables)	12 Months Ended
	Dec. 31, 2020
Trade and other payables [abstract]
Summary of accounts payable	December 31, Description 2020 2019 Accounts payable – local currency 1,612,933 952,439 Accounts payable – foreign currency 948,794 424,411 2,561,727 1,376,850 Current 2,238,668 1,376,850 Non-current 323,059 —

Rights and Obligations with F_2

Rights and Obligations with Financial Instruments (Table)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
Disclosure of changes in fair value	Cash flow hedge Fair value hedge Derivatives not designated as hedge Changes in fair value Interest rate swap Options – foreign currency Interest rate swap Options – foreign currency Interest rate swap Fuel Forward – foreign currency Total (a) Rights (obligations) with derivatives at December, 31 2019 (7,129) 338,592 24,057 (35,487) (62,803) 56,491 202,013 515,734 Gains (losses) recognized in result (4,799) (94,928) 24,421 (143,156) (22,846) (1,374,519) 163,711 (1,452,116) Gains (losses) in OCI 7,129 152,132 — — — — — 159,261 Reclassification to debt — (218,979) (43,485) 127,889 (101,136) 778,286 (15,200) 527,375 (Receipt) payment in cash 4,799 (176,817) (2,744) 57,453 (82,706) 458,468 (1,432) 257,021 Rights (obligations) with derivatives at December, 31 2020 — — 2,249 6,699 (269,491) (81,274) 349,092 7,275 Cash flow hedge Fair value hedge Derivatives not designated as hedge Changes in fair value Interest rate swap Options – foreign currency Interest rate swap Options – foreign currency Interest rate swap Fuel Forward – foreign currency Total (a) Rights (obligations) with derivatives at December, 31 2018 (9,422) 246,323 20,080 (45,949) (166,987) (123,223) 233,564 154,386 Gains (losses) recognized in result (4,072) 99,855 6,133 10,462 140,159 115,189 (42,274) 325,452 Gains (losses) in OCI 2,294 (7,586) — — — — — (5,292) (Receipt) payment in cash 4,071 — (2,156) — (35,975) 64,525 10,723 41,188 Rights (obligations) with derivatives at December 31, 2019 (7,129) 338,592 24,057 (35,487) (62,803) 56,491 202,013 515,734 (a) The changes of derivative transactions are disclosed on a net basis.
Schedule of Movement of equity method adjustment	Movement of equity method adjustment Interest rate swap Options – foreign currency Total Balance at December 31, 2019 7,129 152,132 159,261 Fair value adjustments during the period 2,918 — 2,918 Net reversals to result (923) (152,132) (153,055) Derecognition of hedged item (9,124) (9,124) Balance at December 31, 2020 — — — Movement of equity method adjustment Interest rate swap Options – foreign currency Total Balance at December 31, 2018 9,422 152,132 161,554 Fair value adjustments during the period 1,778 (99,855) (98,077) Net reversals to result (4,071) 99,855 95,784 Balance at December 31, 2019 7,129 152,132 159,261

Air traffic liability (Tables)

Air traffic liability (Tables)	12 Months Ended
	Dec. 31, 2020
Air traffic liability [Abstract]
Schedule of Air Traffic Liability	December 31, Description 2020 2019 Cargo and passenger air traffic liability 1,550,579 1,294,263 Azul viagens 183,061 109,977 TudoAzul Program 755,232 685,982 2,488,872 2,094,254

Provisions (Tables)

Provisions (Tables)	12 Months Ended
	Dec. 31, 2020
Provisions [abstract]
Schedule of Changes in Taxes, Civil and Labor Provisions	Description Provisions for return of aircraft and engines Provisions for tax, civil and labor risks Provisions for onerous contract Provisions for post-employment benefit Total Balance at December 31, 2018 669,041 80,983 — — 750,024 Addition of provision 139,652 100,241 1,129,866 — 1,369,759 Write-offs and/or payments (93,718) (333,420) — (427,138) Interest incurred 67,366 — 18,633 — 85,999 Foreing exchanges variations 28,036 — 6,672 — 34,708 Balance at December 31, 2019 904,095 87,506 821,751 — 1,813,352 Business combination – Azul Conecta — 1,688 — — 1,688 Additions 304,594 183,014 362,426 9,921 859,955 Write-offs and/or payments (118,504) (116,394) (262,946) — (497,844) Interest incurred 84,939 — 206,011 687 291,637 Changes in assumptions — — — (655) (655) Foreing exchanges variations 161,062 — 213,280 — 374,342 Balance at December 31, 2020 1,336,186 155,814 1,340,522 9,953 2,842,475 Current 106,944 — 746,866 — 853,810 Non-current 1,229,242 155,814 593,656 9,953 1,988,665
Schedule of Provision for tax civil and labor risks	The Company's Management believes that the provision for tax, civil and labor risks, established in accordance with IAS 37 – Provisions, Contingent Liabilities and Contingent Assets, is sufficient to cover probable losses on administrative and judicial proceedings. The balances of the proceedings with estimates of probable and possible losses are shown below: Probable loss Possible loss December 31, December 31, Description 2020 2019 2020 2019 Tax 2,858 2,024 154,640 116,074 Civil 104,915 45,067 43,347 77,360 Labor 48,041 40,415 114,524 123,119 155,814 87,506 312,511 316,553
Schedule of Provision for post-employment benefit	The Company offers its employees a health care plan that, as a result of complying with current legislation, generates post-employment benefit obligations. The changes of actuarial assets and liabilities related to the post-employment benefit, prepared based on an actuarial report, are presented below: December 31, Actuarial liabilities at the 12.31.19 — Current service cost recognized in result 9,921 Cost of interest recognized in result 687 Effect of change in financial assumptions (962) Effect of plan experience 307 Actuarial liabilities at the 12.31.20 9,953 December 31, Actuarial assumptions Weighted average of assumptions to determine the defined benefit obligation Nominal discount rate p.a. 7.43 % Actual discount rate p.a. 3.80 % Estimated inflation rate in the long term p.a. 3.50 % HCCTR – Average nominal inflation rate p.a. 6.60 % HCCTR – Actual nominal inflation rate p.a. 3.00 % Mortality table AT-2000 downrated in 10%

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of transactions between related parties [abstract]
Schedule of Compensation for Key Management Personnel	Key management personnel comprise the directors, officers and members of the Executive Committee. The compensation and charges paid or payable for services are shown below: Years ended December 31, Description 2020 2019 2018 Salaries and charges 18,075 22,187 16,275 Bonus 11,717 7,255 7,263 Share-based payment plan 36,986 29,129 21,508 66,778 58,571 45,046
Schedule of sensitivity analysis - Variations in share value	Sensitivity analysis: variations in share value Description Stock price Expense Exposure at December 31, 2020 39.30 36,986 Effect on result Devaluation -50% 19.65 12,203 Devaluation -25% 29.48 21,807

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [abstract]
Schedule of Issued Capital and Authorized Shares, All Registered and Without Par Value	Quantity Description Company's capital Common shares Preferred shares At December 31, 2020 2,246,367 928,965,058 331,644,724 At December 31, 2019 2,243,215 928,965,058 329,568,166
Company shareholding structure	The Company’s shareholding structure is presented below: December 31, 2020 December 31, 2019 Shareholder Common shares Preferred shares % economic participation Common shares Preferred shares % economic participation David Neeleman 67.0 % 1.2 % 3.5 % 67.0 % 3.5 % 5.8 % Acionistas Trip (a) 33.0 % 5.5 % 6.5 % 33.0 % 5.5 % 6.5 % United Airlines Inc — 8.1 % 7.8 % — 8.2 % 7.9 % Other — 85.1 % 82.1 % — 82.7 % 79.7 % Treasury — 0.1 % 0.1 % — 0.1 % 0.1 % Total 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % (a) This refers to Trip Participações S.A., Trip Investimentos Ltda. and Rio Novo Locações Ltda.
Schedule of Treasury Shares	Changes in of treasury shares: Description Number of shares R$ December 31, 2018 332,980 10,550 Acquisition 301,008 12,853 Cancellation (189,743) (7,838) December 31, 2019 444,245 15,565 Cancellation (178,784) (2,383) December 31, 2020 265,461 13,182

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings per share [abstract]
Schedule of Income or Loss Per Common and Preferred Share	Years ended December 31, Description 2020 2019 2018 Numerator Loss for the year (10,834,709) (2,403,086) (635,731) Denominator Weighted average number of common shares 928,965,058 928,965,058 928,965,058 Weighted average number of preferred shares 329,779,360 328,571,282 325,310,485 75 preferred shares (*) 75 75 75 Weighted average number of equivalent preferred shares (*) 342,165,561 340,957,483 337,696,686 Weighted average number of equivalent common shares (**) 25,662,417,083 25,571,811,221 25,327,251,414 Weighted average number of stock options and restricted shares 63,789,234 9,865,114 11,530,390 Weighted average of shares that would have been issued at average market price 4,705,897 6,805,600 6,400,619 Basic loss per common share – R$ (0.42) (0.09) (0.03) Diluted loss per common share – R$ (0.42) (0.09) (0.03) Basic loss per preferred share – R$ (31.67) (7.05) (1.88) Diluted loss per preferred share – R$ (31.67) (7.05) (1.88) (*) This refers to the participation in the value of the Company's total equity, calculated as if all 928,965,058 common shares had been converted into 12,386,200 preferred shares at the conversion ratio of 75 common shares for each preferred share. (**) This refers to the participation in the value of the Company's total equity, calculated as if the weighted average of preferred shares had been converted into common shares at the conversion ratio of 75 common shares for each 1 preferred share.

Share-based option plan (Tables

Share-based option plan (Tables)	12 Months Ended
	Dec. 31, 2020
Stock option plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Disclosure of range of exercise prices of outstanding share options	Date of grant Total options granted Total outstanding options Share exercise price Fair value of option on the date of grant Estimated volatility of share price Expected dividend Risk-free return rate Average remaining maturity (in years) 12.11.09 5,032,800 296,470 3.42 1.93 47.67 % 1.10 % 8.75 % 0 03.24.11 1,572,000 84,000 6.44 4.16 54.77 % 1.10 % 12.00 % 0 04.05.11 656,000 8,960 6.44 4.16 54.77 % 1.10 % 12.00 % 0 06.30.14 2,169,122 786,197 19.15 11.01 40.59 % 1.10 % 12.46 % 0 07.01.15 627,810 231,638 14.51 10.82 40.59 % 1.10 % 15.69 % 0 01.07.16 820,250 385,980 14.50 10.14 43.07 % 1.10 % 12.21 % 0 07.06.17 680,467 490,355 22.57 12.82 43.35 % 1.10 % 10.26 % 0.5 03.14.17 9,343,510 3,824,610 11.85 4.82 50.64 % 1.10 % 11.32 % 1.2 12.31.20 20,901,959 6,108,210
Disclosure of number and weighted average exercise prices of share options	Description Number of shares Weighted average of exercise price (in R$) At December 31, 2018 11,190,829 Cancelled (69,085) Exercised (2,936,976) At December 31, 2019 8,184,768 12.85 Exercised (2,076,558) 11.45 At December 31, 2020 6,108,210 16.91 Number of exercisable options at: At December 31, 2020 2,158,658 15.12 At December 31, 2019 2,294,135 13.81
Restricted stock options plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Disclosure of number and weighted average exercise prices of other equity instruments	Grants are measured based on the fair value of the share at the date premiums are granted. Date of grant Fair value of share Total Total not exercised 06.30.14 21.00 487,670 3,967 07.01.15 21.00 294,286 4,047 07.01.16 21.00 367,184 7,722 07.06.17 24.17 285,064 59,080 08.07.18 24.43 291,609 129,860 08.05.19 51.65 170,000 115,774 06.19.20 21.80 1,382,582 1,332,555 3,278,395 1,653,005 Set out below is the changes of the plans: Description Number of shares At December 31, 2018 729,593 Granted 170,000 Cancelled (49,748) Delivered (260,451) At December 31, 2019 589,394 Granted 1,382,582 Cancelled (74,024) Delivered (244,947) At December 31, 2020 1,653,005
Stock purchase plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Disclosure of number and weighted average exercise prices of other equity instruments	Date of grant Total granted Total outstanding Exercise price Price at the date of grant Current share price Fair value at the date of grant Estimated volatiblity of share price Risk-free return rate Average remaining maturity (in years) 08.07.18 707,400 89,674 R$ 10.35 R$ 17.40 R$ 39.30 R$ 11.98 53.22 % 3.02 % 2.33 08.05.19 405,000 14,201 R$ 10.35 R$ 17.40 R$ 39.30 R$ 11.98 53.22 % 3.02 % 2.33 04.30.20 3,250,000 3,167,765 R$ 10.35 R$ 17.40 R$ 39.30 R$ 11.98 53.22 % 3.02 % 2.33 04.30.20 1,600,000 1,585,401 R$ 10.35 R$ 17.40 R$ 39.30 R$ 11.63 53.22 % 3.02 % 3.33 12.31.20 5,962,400 4,857,041 Set out below is the changes of the plan: Description Total outstanding At December 31, 2018 707,400 Granted 405,000 Cancelled (47,889) Settled (98,603) At December 31, 2019 965,908 Granted 4,793,582 Cancelled (898,881) Settled (3,568) At December 31, 2020 4,857,041

Sales revenue (Tables)

Sales revenue (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of sales revenue [Abstract]
Disclosure of disaggregation of revenue from contracts with customers	Years ended December 31, Description 2020 2019 2018 Passenger service 4,688,295 10,382,240 8,431,966 Loyalty program revenue 508,976 818,572 597,994 Cargo service 764,108 552,084 373,417 Other revenue 35,115 49,986 57,308 Total gross revenue 5,996,494 11,802,882 9,460,685 Taxes levied (252,368) (360,565) (403,621) Net revenue 5,744,126 11,442,317 9,057,064
Disclosure of revenue by geographical location	Revenues by geographical location are as follows: Years ended December 31, Description 2020 2019 2018 Domestic revenue 4,759,257 9,195,535 7,383,183 Foreign revenue 984,869 2,246,782 1,673,881 Net revenue 5,744,126 11,442,317 9,057,064

Financial result (Tables)

Financial result (Tables)	12 Months Ended
	Dec. 31, 2020
Analysis of income and expense [abstract]
Schedule of Financial Result	Years ended December 31, Description 2020 2019 2018 Financial income interest on short-term investments 23,187 12,462 31,947 Sublease receivable 28,714 29,695 33,129 Other 8,397 29,914 9,446 60,298 72,071 74,522 Financial expenses Interest on loans (270,057) (195,688) (164,294) Interest on lease (1,438,825) (732,723) (606,076) Interest on finance lease (130,326) (73,284) (75,313) Interest on factoring credit card receivables (25,715) (13,477) (10,625) Interest on provision for return of aircraft (283,797) (88,015) (56,827) Interest and fines on other operations (225,082) (129,954) (79,822) Share conversion right (755,354) — — Guarantee commission (38,484) (30,977) (26,187) Borrowing cost (44,671) (12,549) (23,169) Other (57,630) (52,857) (52,515) (3,269,941) (1,329,524) (1,094,828) Derivative financial instruments, net (1,452,116) 325,452 298,094 Foreign currency exchange, net (4,302,540) (391,905) (1,306,063) Financial result, net (8,964,299) (1,323,906) (2,028,275)

Financial instruments and ris_2

Financial instruments and risk management (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
Schedule of fair value hierarchy of financial instruments, assets	The accounting classifications of the Company's financial instruments and fair value hierarchy as at December 31, 2020 and 2019 are shown below: Carrying amount Fair value December 31, December 31, Description Level 2020 2019 2020 2019 Assets Cash and cash equivalents 2 3,064,815 1,647,880 3,064,815 1,647,880 Accounts receivable — 875,382 1,165,866 875,382 1,165,866 Aircraft sublease receivables — 312,937 279,504 312,937 279,504 Short-term investments 2 946,281 1,459,708 946,281 1,459,708 Derivative financial instruments 2 428,309 825,924 428,309 825,924 Liabilities Accounts payable — (2,561,727) (1,376,850) (2,561,727) (1,376,850) Accounts payable – Supplier finance — (157,801) (249,727) (157,801) (249,727) Reimbursement to customers — (221,342) (4,032) (221,342) (4,032) Loans and financing — (5,894,515) (3,518,156) (5,414,689) (3,504,754) Loans and financing – Conversion´s right 2 (1,465,999) — (1,465,999) — Lease liabilities — (12,520,812) (12,106,621) (12,520,812) (12,106,621) Derivative financial instruments 2 (421,034) (310,190) (421,034) (310,190)
Schedule of fair value hierarchy of financial instruments, liabilities	The accounting classifications of the Company's financial instruments and fair value hierarchy as at December 31, 2020 and 2019 are shown below: Carrying amount Fair value December 31, December 31, Description Level 2020 2019 2020 2019 Assets Cash and cash equivalents 2 3,064,815 1,647,880 3,064,815 1,647,880 Accounts receivable — 875,382 1,165,866 875,382 1,165,866 Aircraft sublease receivables — 312,937 279,504 312,937 279,504 Short-term investments 2 946,281 1,459,708 946,281 1,459,708 Derivative financial instruments 2 428,309 825,924 428,309 825,924 Liabilities Accounts payable — (2,561,727) (1,376,850) (2,561,727) (1,376,850) Accounts payable – Supplier finance — (157,801) (249,727) (157,801) (249,727) Reimbursement to customers — (221,342) (4,032) (221,342) (4,032) Loans and financing — (5,894,515) (3,518,156) (5,414,689) (3,504,754) Loans and financing – Conversion´s right 2 (1,465,999) — (1,465,999) — Lease liabilities — (12,520,812) (12,106,621) (12,520,812) (12,106,621) Derivative financial instruments 2 (421,034) (310,190) (421,034) (310,190)
Schedule of foreign exchange risk	The exposure to foreign currency is as follows: Exposure to US$ Exposure to € December 31, December 31, Description 2020 2019 2020 2019 Assets Cash, cash equivalents and short-term invesments 262,309 289,297 — — Security deposits and maintenance reserves 1,540,231 1,613,221 — — Aircraft sublease receivables 312,937 279,504 — — Long-term investment — 160,871 854,462 1,236,828 Derivative rights 155,920 121,968 — — Other assets 293,526 244,355 — — Total assets 2,564,923 2,709,216 854,462 1,236,828 Liabilities Accounts payable (831,429) (424,411) — — Loans and financing (5,741,253) (2,624,114) — — Lease liabilities (12,463,426) (12,034,392) — — Derivative obligations (81,274) — — — Other liabilities (951,348) (688,134) — — Total liabilities (20,068,730) (15,771,051) — — Net exposure (17,503,807) (13,061,835) 854,462 1,236,828 Net exposure in foreign currency (3,368,254) (3,240,587) 133,972 273,000
Schedule of maturity of non-derivative financial liabilities	The maturity schedules of the Company's consolidated financial liabilities as at December 31, 2020 are as follows: December 31, 2020 Description Carrying amount Contractual cash flows 2021 2022 2023 2024 After 2025 Accounts payable 2,561,727 2,561,727 2,238,668 156,889 83,670 41,168 41,332 Accounts payable – supplier finance 157,801 157,801 157,801 — — — — Loans and financing 7,360,514 7,439,673 874,925 767,353 935,286 2,276,106 2,586,003 Lease liabilities 12,520,812 27,168,570 2,498,180 3,206,765 3,641,808 3,610,754 14,211,063 Derivative obligations 421,034 421,034 173,768 70,577 66,570 110,119 — Reimbursement to customers 221,342 221,342 221,342 — — — — 23,243,230 37,970,147 6,164,684 4,201,584 4,727,334 6,038,147 16,838,398
Schedule of maturity of derivative financial liabilities	The maturity schedules of the Company's consolidated financial liabilities as at December 31, 2020 are as follows: December 31, 2020 Description Carrying amount Contractual cash flows 2021 2022 2023 2024 After 2025 Accounts payable 2,561,727 2,561,727 2,238,668 156,889 83,670 41,168 41,332 Accounts payable – supplier finance 157,801 157,801 157,801 — — — — Loans and financing 7,360,514 7,439,673 874,925 767,353 935,286 2,276,106 2,586,003 Lease liabilities 12,520,812 27,168,570 2,498,180 3,206,765 3,641,808 3,610,754 14,211,063 Derivative obligations 421,034 421,034 173,768 70,577 66,570 110,119 — Reimbursement to customers 221,342 221,342 221,342 — — — — 23,243,230 37,970,147 6,164,684 4,201,584 4,727,334 6,038,147 16,838,398
Disclosure of nature and extent of risks arising from financial instruments [line items]
Disclosure of capital management	The Company seeks capital alternatives in order to satisfy its operational needs, aiming at a capital structure that it considers adequate for the financial costs and the maturity dates of funding and its guarantees. The Company monitors its degree of financial leverage, which corresponds to net debt, including short and long-term loans, as shown below: December 31, Description 2020 2019 Cash and cash equivalents 3,064,815 1,647,880 Short-term investments 946,281 1,459,708 Aircraft sublease receivables 312,937 279,504 Loans and financing (7,360,514) (3,518,156) Lease liabilities (12,520,812) (12,106,621) Net debt (15,557,293) (12,237,685)
Exchange rate differences
Disclosure of nature and extent of risks arising from financial instruments [line items]
Schedule of sensitivity analysis of financial instruments	The table below shows the sensitivity analysis and the effect on the result of the foreign exchange rate fluctuation in the amount exposed at December 31, 2020: Exposure to US$ Exposure to € Description Rate December 31, Rate December 31, Net exposure at 12.31.20 5.1967 (17,503,807) 6.3779 854,462 Effect on result Foreign currency devaluation by -50% 2.5984 8,751,904 3.1890 (427,231) Foreign currency devaluation by -25% 3.8975 4,375,952 4.7834 (213,616) Foreign currency appreciation by 50% 7.7951 (8,751,904) 9.5669 427,231 Foreign currency appreciation by 25% 6.4959 (4,375,952) 7.9724 213,616
Changes in QAV prices
Disclosure of nature and extent of risks arising from financial instruments [line items]
Schedule of sensitivity analysis of financial instruments	The table below shows the sensitivity analysis in U.S. dollar of the fluctuation of QAV barrel prices: Exposure to HOA (a) Description Price (b) December 31, 2020 HOA reference price at 12.31.20 150 81,274 Effect on statements of operations HOA devaluation by -50% 75 (98,454) HOA devaluation by -25% 112 (45,667) HOA appreciation by 50% 225 98,454 HOA appreciation by 25% 187 45,667 (a) HOA – Heating Oil (b) Average price in U.S. dollar, per gallon, projected for the next 12 months.
Changes in interest rates
Disclosure of nature and extent of risks arising from financial instruments [line items]
Schedule of sensitivity analysis of financial instruments	As at December 31, 2020, the Company held financial investments and debts linked to various types of rates. In the sensitivity analysis of non-derivative financial instruments, the impact on annual interest was only considered on positions with values and exposed to such fluctuations, according to the scenarios shown below: Exposure to CDI Exposure to LIBOR rate Description Rate p.a. December 31, Rate p.a. (a) December 31, Net exposure at 12.31.20 2.8 % 1,113,627 2.7 % (650,740) Effect on statements of operations Interest rate devaluation by -50% 1.4 % (53,593) 1.3 % 30,695 Interest rate devaluation by -25% 2.1 % (45,937) 2.0 % 26,310 Interest rate appreciation by 50% 4.1 % 53,593 4.0 % (30,695) Interest rate appreciation by 25% 3.4 % 45,937 3.4 % (26,310) (a) Weighted rate.

Non-Cash Transactions (Tables)

Non-Cash Transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Non-cash transaction [Abstract]
Schedule of non-cash transactions	Consolidated Description December 31, Supplier finance 157,801 Derivative debt acknowledgment 527,375 Acquisition of property and equipment through financing (IFRS 16) 2,561,504 Decrease in lease liabilities 5,701,928

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Dec. 31, 2020
Capital commitments [abstract]
Schedule of financial disbursements of contractual commitments	As at December 31, 2020, the Company had contractually assumed the commitment to acquire 132 aircraft, 94 directly from manufacturers and 38 from lessors (147 as at December 31, 2019, 94 directly from manufacturers and 53 from lessors). The related financial disbursements calculated at present value are shown below: December 31, Description 2020 2019 2020 — 3,011,655 2021 1,941,843 3,318,239 2022 855,247 3,628,931 2023 565,661 4,122,212 2024 1,533,423 1,925,315 2025 1,351,477 1,901,725 After 2025 3,926,183 4,955,775 10,173,834 22,863,852

Operations - Shareholding struc

Operations - Shareholding structure (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
TudoAzul S.A.
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	100.00%	100.00%
Azul Linhas Aéreas Brasileiras S.A. (ALAB)
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	100.00%	100.00%
TwoTaxi Aéreo Ltda. (Azul Conecta)
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	100.00%	0.00%
ATS Viagens e Turismo Ltda.
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	99.90%	99.90%
Fundo Garoupa
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	0.00%	100.00%
Fundo Safira
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	100.00%	100.00%
Cruzeiro Participações S.A
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	99.90%	99.90%
Azul Investments LLP
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	100.00%	100.00%
Azul SOL LLC
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	100.00%	100.00%
Azul Finance LLC
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	100.00%	100.00%
Azul Finance 2 LLC
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	100.00%	100.00%
Blue Sabiá LLC
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	100.00%	100.00%
Canela Investments LLC (Canela)
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	100.00%	100.00%
Canela 407 LLC
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	0.00%	100.00%
Canela 429 LLC
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	0.00%	100.00%
Canela Turbo Three LLC
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	100.00%	100.00%
Global AzulAirProjects, SGPS, S.A. (Global)
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	0.00%	45.45%
Daraland S.A.
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	0.00%	100.00%
Encenta S.A. (Azul Uruguai)
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	0.00%	100.00%
Azul Saira LLC
Disclosure of subsidiaries [line items]
Equity interest owned (as a percentage)	100.00%	0.00%

Operations - Impacts of the COV

Operations - Impacts of the COVID-19 pandemic (Details) R$ in Thousands	Oct. 26, 2020	Apr. 30, 2020flight	Dec. 31, 2020BRL (R$)	Oct. 31, 2020BRL (R$)	Jul. 31, 2020	Aug. 31, 2020	Dec. 31, 2020BRL (R$)	Dec. 31, 2020BRL (R$)	Dec. 31, 2020BRL (R$)flightmember	Dec. 31, 2019BRL (R$)	Dec. 31, 2018BRL (R$)
Disclosure of joint operations [abstract]
Percentage of available seat kilometers as compared to prior year		13.00%	93.00%
Number of daily flights | flight		70,000
Percentage of revenue passenger kilometers as compared to prior year		11.00%	91.00%
Disclosure of general information about financial statements [Line Items]
Reduction of wages and salaries rate						65.00%
Collective bargaining agreement, working hours reduction, period							18 months
Percentage decrease, agreement with lessors, liabilities arising from financing activities								77.00%
Borrowings			R$ 7360514				R$ 7360514	R$ 7360514	R$ 7360514	R$ 3518156	R$ 2756126
Decrease in lease liabilities									5,701,928
Interest expense on reimbursement to customers									8,800
Effect on profit for the year									256,449
Air traffic liability			(2,488,872)				(2,488,872)	(2,488,872)	(2,488,872)	(2,094,254)
Reimbursement to customers			221,342				221,342	221,342	R$ 221342	R$ 0
Percentage of lease contracts renegotiated									96.00%
Air trafic liability
Disclosure of general information about financial statements [Line Items]
Air traffic liability			(212,542)				(212,542)	(212,542)	R$ 212542
Reimbursement to customers			R$ 212542				R$ 212542	R$ 212542	212,542
TAP Bond
Disclosure of general information about financial statements [Line Items]
Loss on fair value of conversion right – TAP Bond									637,639
Cost
Disclosure of general information about financial statements [Line Items]
Write-off of right of use (leased property and equipment)									R$ 4799040
Convertible debt
Disclosure of general information about financial statements [Line Items]
Borrowings				R$ 1745900
Maturity term	5 years			5 years
E2
Disclosure of general information about financial statements [Line Items]
Delivery postponement agreement, number of aircrafts | flight									59
Management
Disclosure of general information about financial statements [Line Items]
Reduction of salary rates					25.00%
Minimum
Disclosure of general information about financial statements [Line Items]
Unpaid leave program, participation, number of members | member									10,000
Unpaid leave program, participation, period									30 days
Minimum | Convertible debt
Disclosure of general information about financial statements [Line Items]
Nominal rate p.a.				6.00%
Minimum | Executive Officer
Disclosure of general information about financial statements [Line Items]
Reduction of salary rates					50.00%
Maximum
Disclosure of general information about financial statements [Line Items]
Unpaid leave program, participation, period									120 days
Maximum | Convertible debt
Disclosure of general information about financial statements [Line Items]
Nominal rate p.a.				7.50%
Maximum | Executive Officer
Disclosure of general information about financial statements [Line Items]
Reduction of salary rates					100.00%

Operations - Capital structure

Operations - Capital structure and net working capital (Details) R$ in Thousands	Oct. 26, 2020BRL (R$)	Oct. 31, 2020BRL (R$)	Dec. 31, 2020BRL (R$)brazilianReal	Dec. 31, 2019BRL (R$)brazilianReal	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of joint operations [abstract]
Negative equity position			R$ 14148750	R$ 3519174	R$ 1150038	R$ 432706
Devaluation percentage of domestic currency against US Dollar			28.90%
Foreign exchange rate | brazilianReal			5.1967	4.0307
Foreign exchange variation expense			R$ 4302540	R$ 391905	1,306,063
Variarion of conversion right			755,354
Disclosure of general information about financial statements [Line Items]
Variarion of conversion right			755,354
Borrowings			7,360,514	3,518,156	R$ 2756126
Increase (decrease) in working capital			2,071,919
Working capital, negative position			R$ 4795208	R$ 2723289
Percentage of lease contracts renegotiated			96.00%
Convertible debt
Disclosure of joint operations [abstract]
Variarion of conversion right	R$ 755354	R$ 755354
Disclosure of general information about financial statements [Line Items]
Variarion of conversion right	R$ 755354	755,354
Borrowings		R$ 1745900

Operations - Acceleration of fl

Operations - Acceleration of fleet transformation (Details) R$ in Thousands	12 Months Ended
	Dec. 31, 2020BRL (R$)	Dec. 31, 2019BRL (R$)	Dec. 31, 2020BRL (R$)engineaircraft	Dec. 31, 2019BRL (R$)engineaircraft
Disclosure of other provisions [line items]
Foreign currency exchange	R$ 374342	R$ 34708
Interest expense – adjustment of the provision for onerous liabilities	(291,637)	(85,999)
Addtiions of onerous liabilities	(859,955)	(1,369,759)
Consumption of aircraft material and rotables / onerous liabilities	497,844	427,138
Aircraft
Disclosure of other provisions [line items]
Impairment base, number of assets | aircraft			51	54
Aircraft Engines
Disclosure of other provisions [line items]
Impairment base, number of assets | engine			4	4
Provision for impairment of assets and onerous contracts
Disclosure of other provisions [line items]
Provision	(2,559,070)	(2,897,333)	R$ 2559070	R$ 2897333
Balance at December 31, 2019	(2,897,333)
Foreign currency exchange	(213,280)
Interest expense – adjustment of the provision for onerous liabilities	(206,011)
Addtiions of onerous liabilities	(362,426)
Consumption of aircraft material and rotables / onerous liabilities	534,952
Maintenance reserve	(20,486)
Sale of aircraft	13,123
Renegotiation of lease contracts (lease modification)	581,926
Other	10,465
Balance at December 31, 2020	(2,559,070)	(2,897,333)
Provisions for impairment of assets
Disclosure of other provisions [line items]
Provision	(2,075,582)	(2,075,582)	(1,218,548)	(2,075,582)
Balance at December 31, 2019	(2,075,582)
Foreign currency exchange	0
Interest expense – adjustment of the provision for onerous liabilities	0
Addtiions of onerous liabilities	0
Consumption of aircraft material and rotables / onerous liabilities	272,006
Maintenance reserve	(20,486)
Sale of aircraft	13,123
Renegotiation of lease contracts (lease modification)	581,926
Other	10,465
Balance at December 31, 2020	(1,218,548)	(2,075,582)
Provisions for impairment of assets | Provision for impairment of ROU
Disclosure of other provisions [line items]
Provision	(1,351,431)	(1,351,431)	(706,614)	(1,351,431)
Balance at December 31, 2019	(1,351,431)
Balance at December 31, 2020	(706,614)	(1,351,431)
Provisions for impairment of assets | Provision for impairment of aircraft and engines
Disclosure of other provisions [line items]
Provision	(171,050)	(171,050)	(211,062)	(171,050)
Balance at December 31, 2019	(171,050)
Balance at December 31, 2020	(211,062)	(171,050)
Provisions for impairment of assets | Provision for impairment of rotables
Disclosure of other provisions [line items]
Provision	(509,725)	(509,725)	(225,797)	(509,725)
Balance at December 31, 2019	(509,725)
Balance at December 31, 2020	(225,797)	(509,725)
Provisions for impairment of assets | Provision for impairment of inventories
Disclosure of other provisions [line items]
Provision	(14,784)	(14,784)	(18,334)	(14,784)
Balance at December 31, 2019	(14,784)
Balance at December 31, 2020	(18,334)	(14,784)
Provisions for impairment of assets | Provision for impairment of other assets
Disclosure of other provisions [line items]
Provision	(28,592)	(28,592)	(56,741)	(28,592)
Balance at December 31, 2019	(28,592)
Balance at December 31, 2020	(56,741)	(28,592)
Provisions for onerous contract
Disclosure of other provisions [line items]
Provision	(1,340,522)	(821,751)	R$ 1340522	R$ 821751
Balance at December 31, 2019	(821,751)
Foreign currency exchange	(213,280)	(6,672)
Interest expense – adjustment of the provision for onerous liabilities	(206,011)	(18,633)
Addtiions of onerous liabilities	(362,426)	(1,129,866)
Consumption of aircraft material and rotables / onerous liabilities	262,946	333,420
Maintenance reserve	0
Sale of aircraft	0
Renegotiation of lease contracts (lease modification)	0
Other	0
Balance at December 31, 2020	R$ 1340522	R$ 821751

Business combinations (Details)

Business combinations (Details) R$ in Thousands	May 14, 2020BRL (R$)destinationaircraftinstallment	Dec. 31, 2020BRL (R$)	Dec. 31, 2020BRL (R$)	Dec. 31, 2019BRL (R$)	Dec. 31, 2018BRL (R$)
Disclosure of detailed information about business combination [line items]
Number of destinations shared with acquired entity | destination	7
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract]
Net cash flow from acquisition			R$ 38713	R$ 0	R$ 0
TwoTaxi Aéreo Ltda. (Azul Conecta)
Disclosure of detailed information about business combination [line items]
Number of destinations | destination	39
Number of departures, per day | destination	14
Nominal amount of the transaction	R$ 123000
Number of installment payments, monthly | installment	30
Installment payments amount, balloon payment	R$ 30000
Goodwill recognised as of acquisition date	57,446
Revenue of acquiree since acquisition date		R$ 14505
Profit (loss) of acquiree since acquisition date		25,966
Revenue of combined entity as if combination occurred at beginning of period		35,921
Profit (loss) of combined entity as if combination occurred at beginning of period		R$ 35881
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract]
Cash and cash equivalents	3,971
Accounts receivable	3,637
Inventories	1,624
Taxes recoverable	1,399
Other assets	458
Property and equipment	74,205
Assets recognized as of acquisition date	85,294
Loans and financing	(16,540)
Accounts payable	(5,764)
Salaries, accruals and payroll charges	(2,707)
Taxes payable	(824)
Provision for tax, civil and labor risks	(1,687)
Other liabilities	(650)
Liabilities recognized as of acquisition date	(28,172)
Net assets acquired	57,122
Consideration at present value	114,568
Payment	(42,684)
Net cash flow from acquisition	(38,713)
Fair value from contingencies	500
TwoTaxi Aéreo Ltda. (Azul Conecta) | Property and equipment
Disclosure of detailed information about business combination [line items]
Goodwill recognised as of acquisition date	56,820
TwoTaxi Aéreo Ltda. (Azul Conecta) | Minimum
Disclosure of detailed information about business combination [line items]
Installment payment amounts	3,000
TwoTaxi Aéreo Ltda. (Azul Conecta) | Maximum
Disclosure of detailed information about business combination [line items]
Installment payment amounts	R$ 10000
TwoTaxi Aéreo Ltda. (Azul Conecta) | Cessna Caravan
Disclosure of detailed information about business combination [line items]
Number of aircrafts | aircraft	17
Aircraft capacity, number of passengers | aircraft	9

Summary of Significant Accoun_2

Summary of Significant Accounting Policies - Current Taxes and Other (Details)	12 Months Ended
	Dec. 31, 2020component
Disclosure of significant accounting policies [abstract]
Tax loss carry forwards up to annual taxable income	30.00%
Applicable tax rate on taxable profit base	15.00%
Applicable tax rate, corporate income tax IRPJ	10.00%
Applicable tax rate, social contribution tax CSLL	9.00%
Percentage of entity's lease transactions denominated in USD	99.40%
Cost allocation, initial recognition of ROU assets, number of major components	5
Frequent flyer program revenue, expiration period of points	2 years

Significant Accounting Polici_3

Significant Accounting Policies - Segment information (Detail) - Operating segments - segment	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of disaggregation of revenue from contracts with customers [line items]
Number of operating segments	1
Passenger service
Disclosure of disaggregation of revenue from contracts with customers [line items]
Percentage of entity's revenue	86.70%	94.90%
Cargo service
Disclosure of disaggregation of revenue from contracts with customers [line items]
Percentage of entity's revenue	12.70%	4.70%
Other revenue
Disclosure of disaggregation of revenue from contracts with customers [line items]
Percentage of entity's revenue	0.60%	0.40%

Significant Accounting Polici_4

Significant Accounting Policies - Foreign currency transactions (Detail) - brazilianReal	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of significant accounting policies [line items]
Final rate	5.1967	4.0307
US Dollars
Disclosure of significant accounting policies [line items]
Final rate	5.1967	4.0307	3.8748
Average rate	5.1578	3.9461	3.6558
Euro
Disclosure of significant accounting policies [line items]
Final rate	6.3779	4.5305	4.4390
Average rate	5.8989	4.4159	4.3094

Cash and Cash Equivalents - Sch

Cash and Cash Equivalents - Schedule of Cash and Cash Equivalents (Detail) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and cash equivalents [abstract]
Cash and bank deposits	R$ 465054	R$ 308958
Cash equivalents
Bank Deposit Certificate – CDB	2,216,592	156,593
Debentures	361,183	1,160,795
Exclusive investment funds	21,986	21,534
Cash and cash equivalents	R$ 3064815	R$ 1647880	R$ 1169136	R$ 762319
Effective interest rate p.a., Bank Deposit Certificate - CDB	1.90%
Effective interest rate p.a., Debentures	1.90%
Effective interest rate p.a., Exclusive investment funds	1.20%

Short and Long -Term Investme_3

Short and Long -Term Investments (Detail) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of short and long term investments [Line Items]
Current	R$ 91819	R$ 62009
Non-current	854,462	1,397,699
Financial assets at fair value through profit or loss and held-to-maturity investments
Disclosure of short and long term investments [Line Items]
Short and long-term investments	946,281	1,459,708
Exclusive investment funds
Disclosure of short and long term investments [Line Items]
Short and long-term investments	R$ 62972	40,766
Effective interest rate p.a.	1.20%
Investment funds
Disclosure of short and long term investments [Line Items]
Short and long-term investments	R$ 28847	21,243
Effective interest rate p.a.	0.70%
TAP Bonds
Disclosure of short and long term investments [Line Items]
Short and long-term investments	R$ 854462	1,236,828
Effective interest rate p.a.	6.70%
Other investments
Disclosure of short and long term investments [Line Items]
Short and long-term investments	R$ 0	R$ 160871
Effective interest rate p.a.	0.00%

Accounts Receivables - Schedule

Accounts Receivables - Schedule of Accounts Receivables (Detail) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of financial assets [line items]
Total net	R$ 875382	R$ 1165866
Accounts receivable
Disclosure of financial assets [line items]
Total local currency	716,854	1,100,958
Total foreign currency	174,659	79,624
Allowance for expected losses	(16,131)	(14,716)	R$ 12723
Accounts receivable | Carrying amount
Disclosure of financial assets [line items]
Total net	891,513	1,180,582
Accounts receivable | Credit card companies
Disclosure of financial assets [line items]
Total local currency	394,895	768,839
Total foreign currency	8,927	4,439
Accounts receivable | Cargo and travel agencies
Disclosure of financial assets [line items]
Total local currency	146,854	127,509
Accounts receivable | Maintenance reserve
Disclosure of financial assets [line items]
Total foreign currency	112,170	6,726
Accounts receivable | Azul Viagens
Disclosure of financial assets [line items]
Total local currency	56,870	88,410
Accounts receivable | TudoAzul program
Disclosure of financial assets [line items]
Total local currency	65,522	56,485
Accounts receivable | Airline partner companies
Disclosure of financial assets [line items]
Total foreign currency	24,910	17,598
Accounts receivable | Insurance
Disclosure of financial assets [line items]
Total foreign currency	7,150	24,112
Accounts receivable | Other
Disclosure of financial assets [line items]
Total local currency	52,713	59,715
Total foreign currency	R$ 21502	R$ 26749

Accounts Receivables - Schedu_2

Accounts Receivables - Schedule of Aging of Accounts Receivables (Detail) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial assets [line items]
Accounts receivable	R$ 875382	R$ 1165866
Current (not past due)
Disclosure of financial assets [line items]
Accounts receivable	743,715	1,143,879
Current (not past due) | Up to 30 days
Disclosure of financial assets [line items]
Accounts receivable	476,378	734,218
Current (not past due) | 31 to 60 days
Disclosure of financial assets [line items]
Accounts receivable	69,729	110,392
Current (not past due) | 61 to 90 days
Disclosure of financial assets [line items]
Accounts receivable	46,007	82,142
Current (not past due) | 91 to 180 days
Disclosure of financial assets [line items]
Accounts receivable	86,215	170,182
Current (not past due) | 181 to 360 days
Disclosure of financial assets [line items]
Accounts receivable	65,386	46,945
Past due
Disclosure of financial assets [line items]
Accounts receivable	131,667	21,987
Past due | Up to 30 days
Disclosure of financial assets [line items]
Accounts receivable	104,377	7,429
Past due | 31 to 60 days
Disclosure of financial assets [line items]
Accounts receivable	8,371	4,149
Past due | 61 to 90 days
Disclosure of financial assets [line items]
Accounts receivable	4,228	5,720
Past due | 91 to 180 days
Disclosure of financial assets [line items]
Accounts receivable	5,077	111
Past due | 181 to 360 days
Disclosure of financial assets [line items]
Accounts receivable	6,178	563
Past due | Over 360 days
Disclosure of financial assets [line items]
Accounts receivable	R$ 3436	R$ 4015

Accounts Receivables - Schedu_3

Accounts Receivables - Schedule of Changes in the Allowance for Doubtful Accounts (Detail) - Accounts receivable - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial assets [line items]
Balances at the beginning of the year	R$ 14716	R$ 12723
Business combination – Azul Conecta	(380)	0
(Inclusions) and reversals	(3,205)	(1,993)
Write-off of uncollectible amounts	2,170	0
Balances at the end of the year	R$ 16131	R$ 14716

Aircraft Sublease Receivables -

Aircraft Sublease Receivables - Summary of Subleased Aircraft and the Amounts Receivable (Detail) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of maturity analysis of operating lease payments [line items]
Aircraft sublease receivables	R$ 123455	R$ 75052
Aircraft sublease receivables	189,482	204,452
Aircraft
Disclosure of maturity analysis of operating lease payments [line items]
Gross lease receivables	372,490	340,841
Accrued interest	(59,553)	(61,337)
Net lease receivables	312,937	279,504
Aircraft sublease receivables	123,455	75,052
Aircraft sublease receivables	189,482	204,452
Aircraft | Past due
Disclosure of maturity analysis of operating lease payments [line items]
Gross lease receivables	34,457	0
Aircraft | Year one
Disclosure of maturity analysis of operating lease payments [line items]
Gross lease receivables	142,932	98,152
Aircraft | Year two
Disclosure of maturity analysis of operating lease payments [line items]
Gross lease receivables	62,547	86,657
Aircraft | Year three
Disclosure of maturity analysis of operating lease payments [line items]
Gross lease receivables	65,040	47,136
Aircraft | Year four
Disclosure of maturity analysis of operating lease payments [line items]
Gross lease receivables	65,188	44,154
Aircraft | After year four
Disclosure of maturity analysis of operating lease payments [line items]
Gross lease receivables	R$ 36783
Aircraft | Year five
Disclosure of maturity analysis of operating lease payments [line items]
Gross lease receivables		44,154
Aircraft | After year five
Disclosure of maturity analysis of operating lease payments [line items]
Gross lease receivables		R$ 20588

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Detail) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Classes of current inventories [abstract]
Maintenance parts and materials	R$ 442161	R$ 288824
Flight attendance and uniforms	9,579	5,768
Provision for loss on inventories	49,153	33,727	R$ 15935
Total net	R$ 402587	R$ 260865

Inventories - Schedule of Provi

Inventories - Schedule of Provision for losses on inventories (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Classes of current inventories [abstract]
Balances at the beginning of the year	R$ 33727	R$ 15935
Additions	(16,438)	(19,815)
Write-offs	1,012	2,023
Balances at the end of the year	R$ 49153	R$ 33727

Security Deposits and Mainten_3

Security Deposits and Maintenance Reserves - Changes in Security Deposits and Maintenance Reserve Deposits (Detail) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Disclosure of security deposits and maintenance reserves [Line Items]
Balance at the beginning of the period	R$ 1651533	R$ 1546720
Business combination – Azul Conecta	298
Additions	407,689	381,341
Impairment	(20,486)
Write-offs	(419,843)	(8,417)	R$ 31132
Reimbursements	(520,107)	(323,493)
Foreing exchanges variations	454,958	55,382
Balances at the end of the period	1,651,533	1,546,720	1,546,720	R$ 1554042	R$ 1651533
Current				318,460	258,212
Non-current				1,235,582	1,393,321
Maintenance reserve deposits
Disclosure of security deposits and maintenance reserves [Line Items]
Balance at the beginning of the period	1,498,898	1,321,490
Business combination – Azul Conecta	0
Additions	313,950	343,727
Impairment	(20,486)
Write-offs	(419,843)	(8,417)
Reimbursements	(476,588)	(210,356)
Foreing exchanges variations	425,715	52,454
Balances at the end of the period	1,498,898	1,321,490	1,321,490	1,321,646	1,498,898
Current				318,460
Non-current				1,003,186
Security deposits
Disclosure of security deposits and maintenance reserves [Line Items]
Balance at the beginning of the period	152,635	225,230
Business combination – Azul Conecta	298
Additions	93,739	37,614
Impairment	0
Write-offs	0	0
Reimbursements	(43,519)	(113,137)
Foreing exchanges variations	29,243	2,928
Balances at the end of the period	R$ 152635	R$ 225230	R$ 225230	232,396	R$ 152635
Current				0
Non-current				R$ 232396

Taxes Recoverable (Details)

Taxes Recoverable (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Taxes Recoverable [Abstract]
IRPJ and CSSL recoverable	R$ 4443	R$ 11357
Withholding income tax	3,470	5,082
PIS and COFINS recoverable	123,005	323,457
ICMS recoverable	1,765	7,002
INSS recoverable	519	27,904
Other taxes recoverable	504	9,467
Taxes recoverable	133,706	384,269
Current assets	133,706	139,668
Non-current assets	R$ 0	R$ 244601

Prepaid Expenses - Schedule of

Prepaid Expenses - Schedule of Prepaid Expenses (Detail) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Prepayments and accrued income [abstract]
Insurance premiums	R$ 49428	R$ 47506
Expenses with leased aircraft and engines	28,351	39,989
Guarantee commission	40,678	16,332
Other	36,085	57,792
Total	154,542	161,619
Current	136,350	139,403
Non-current	R$ 18192	R$ 22216

Income tax and social contrib_3

Income tax and social contribution - Summary of Reconciliation of Income tax expense to Profit (Loss) (Detail) R$ in Thousands	12 Months Ended
	Dec. 31, 2020BRL (R$)
Reconciliation of changes in deferred tax liability (asset) [abstract]
Balances at the beginning of the period	R$ 242516
Statement of operations	242,516
Balances at the end of the period	0
Temporary differences
Reconciliation of changes in deferred tax liability (asset) [abstract]
Balances at the beginning of the period	(259,786)
Statement of operations	259,786
Balances at the end of the period	0
Fair value of TAP Bonds
Reconciliation of changes in deferred tax liability (asset) [abstract]
Balances at the beginning of the period	(243,288)
Statement of operations	217,156
Balances at the end of the period	(26,132)
Financial instruments
Reconciliation of changes in deferred tax liability (asset) [abstract]
Balances at the beginning of the period	(201,738)
Statement of operations	79,778
Balances at the end of the period	(121,960)
Deferred revenue – TudoAzul Program
Reconciliation of changes in deferred tax liability (asset) [abstract]
Balances at the beginning of the period	(148,963)
Statement of operations	31,423
Balances at the end of the period	(117,540)
Depreciation of aircraft and engines
Reconciliation of changes in deferred tax liability (asset) [abstract]
Balances at the beginning of the period	(48,899)
Statement of operations	(4,283)
Balances at the end of the period	(53,182)
Foreing exchanges variations
Reconciliation of changes in deferred tax liability (asset) [abstract]
Balances at the beginning of the period	(16,498)
Statement of operations	16,498
Balances at the end of the period	0
Fair value of other investments
Reconciliation of changes in deferred tax liability (asset) [abstract]
Balances at the beginning of the period	(21,963)
Statement of operations	21,963
Balances at the end of the period	0
Active temporary difference
Reconciliation of changes in deferred tax liability (asset) [abstract]
Balances at the beginning of the period	421,563
Statement of operations	(102,749)
Balances at the end of the period	318,814
Tax loss and CSSL negative base
Reconciliation of changes in deferred tax liability (asset) [abstract]
Balances at the beginning of the period	17,270
Statement of operations	(17,270)
Balances at the end of the period	0
Tax loss
Reconciliation of changes in deferred tax liability (asset) [abstract]
Balances at the beginning of the period	12,699
Statement of operations	(12,699)
Balances at the end of the period	0
Negative social contribution base
Reconciliation of changes in deferred tax liability (asset) [abstract]
Balances at the beginning of the period	4,571
Statement of operations	(4,571)
Balances at the end of the period	R$ 0

Income tax and social contrib_4

Income tax and social contribution - Schedule of Reconciliation of the effective income tax rate (Detail) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Profit (loss) before income tax and social contribution	R$ 11077214	R$ 2536265	R$ 452926
Combined nominal tax rate	34.00%	34.00%	34.00%
Taxes calculated at nominal rates	R$ 3766253	R$ 862330	R$ 153995
Adjustments to determine the effective rate:
Profits from investments not taxed abroad	0	(10,341)	3,050
(Unrecorded) benefit on tax loss carryforwards	(3,257,190)	(880,375)	(400,187)
Offset against PERT	0	84,711	0
Permanent differences	(244,011)	76,958	65,971
Other	(22,547)	(104)	(5,634)
Income tax and social contribution credit (expense)	(242,505)	(133,179)	182,805
Current income tax and social contribution	(11)	(2,228)	(11,224)
Deferred income tax and social contribution	242,516	135,407	(171,581)
Income tax and social contribution credit (expense)	R$ 242505	R$ 133179	R$ 182805
Effective rate	2.00%	5.00%	(40.00%)

Income tax and social contrib_5

Income tax and social contribution - Schedule of tax losses available to offset of future taxable profits (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Major components of tax expense (income) [abstract]
Percentage of taxable profit used to offset loss carryforward	30.00%
Tax loss carryfowards – net	R$ 5751867	R$ 1971779	R$ 1829244
Income tax loss carryforwards (25%)	1,437,967	492,945	457,311
Social contribution on tax loss carryforwards (9%)	R$ 517668	R$ 177460	R$ 164632

Property and equipment - Reconc

Property and equipment - Reconciliation of Changes in Property and Equipment (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Changes in property, plant and equipment [abstract]
Balance, beginning of period	R$ 9553643
Balance, end of period	6,410,447	R$ 9553643
Cost
Changes in property, plant and equipment [abstract]
Contractual modifications	(4,799,040)
Property and equipment
Changes in property, plant and equipment [abstract]
Balance, beginning of period	1,968,840	1,842,239
Business combination – Azul Conecta	74,206
Acquisitions	83,139	353,322
Disposals/write-offs	(229,667)	(197,618)
Contractual modifications	(975)
Transfers	(95,837)	(29,103)
Balance, end of period	1,799,706	1,968,840
Property and equipment | Aeronautical material
Changes in property, plant and equipment [abstract]
Transfers (from) to property, plant and equipment	(110,937)
Property and equipment | Cost
Changes in property, plant and equipment [abstract]
Balance, beginning of period	3,460,785	2,500,776
Business combination – Azul Conecta	98,888
Acquisitions	365,825	1,262,152
Disposals/write-offs	(722,661)	(273,040)
Contractual modifications	(975)
Transfers	(84,278)	(29,103)
Balance, end of period	3,117,584	3,460,785
Property and equipment | Cost | Aircraft and engines
Changes in property, plant and equipment [abstract]
Balance, beginning of period	2,706,529	2,007,825
Business combination – Azul Conecta	97,814
Acquisitions	259,986	712,679
Disposals/write-offs	(689,771)	(222,745)
Contractual modifications	0
Transfers	(76,897)	208,770
Balance, end of period	2,297,661	2,706,529
Property and equipment | Cost | Building and leasehold improvements
Changes in property, plant and equipment [abstract]
Balance, beginning of period	296,728	146,315
Business combination – Azul Conecta	0
Acquisitions	22,433	124,181
Disposals/write-offs	(2,104)	(3,118)
Contractual modifications	(975)
Transfers	169,165	29,350
Balance, end of period	485,247	296,728
Property and equipment | Cost | Equipment and facilities
Changes in property, plant and equipment [abstract]
Balance, beginning of period	176,814	130,655
Business combination – Azul Conecta	780
Acquisitions	21,324	48,101
Disposals/write-offs	(12,867)	(2,091)
Contractual modifications	0
Transfers	(4,957)	149
Balance, end of period	181,094	176,814
Property and equipment | Cost | Other – property and equipment
Changes in property, plant and equipment [abstract]
Balance, beginning of period	24,297	22,035
Business combination – Azul Conecta	294
Acquisitions	818	2,267
Disposals/write-offs	0	(5)
Contractual modifications	0
Transfers	2,599	0
Balance, end of period	28,008	24,297
Property and equipment | Cost | Construction in progress
Changes in property, plant and equipment [abstract]
Balance, beginning of period	171,839	81,023
Business combination – Azul Conecta	0
Acquisitions	40,464	319,275
Disposals/write-offs	(4,485)	0
Contractual modifications	0
Transfers	(174,188)	(228,459)
Balance, end of period	33,630	171,839
Property and equipment | Cost | Advance payments for acquisition of aircraft
Changes in property, plant and equipment [abstract]
Balance, beginning of period	84,578	112,923
Business combination – Azul Conecta	0
Acquisitions	20,800	55,649
Disposals/write-offs	(13,434)	(45,081)
Contractual modifications	0
Transfers	0	(38,913)
Balance, end of period	91,944	84,578
Property and equipment | Depreciation
Changes in property, plant and equipment [abstract]
Balance, beginning of period	(804,769)	(658,537)
Business combination – Azul Conecta	(24,682)
Acquisitions	(282,686)	(221,654)
Disposals/write-offs	242,676	75,422
Contractual modifications	0
Transfers	(11,559)	0
Balance, end of period	(881,020)	(804,769)
Property and equipment | Depreciation | Aircraft and engines
Changes in property, plant and equipment [abstract]
Balance, beginning of period	(612,124)	(509,296)
Business combination – Azul Conecta	(24,214)
Acquisitions	(207,908)	(177,372)
Disposals/write-offs	230,855	74,544
Contractual modifications	0
Transfers	(11,345)	0
Balance, end of period	(624,736)	(612,124)
Property and equipment | Depreciation | Building and leasehold improvements
Changes in property, plant and equipment [abstract]
Balance, beginning of period	(78,001)	(53,030)
Business combination – Azul Conecta	0
Acquisitions	(50,795)	(25,157)
Disposals/write-offs	35	186
Contractual modifications	0
Transfers	0	0
Balance, end of period	(128,761)	(78,001)
Property and equipment | Depreciation | Equipment and facilities
Changes in property, plant and equipment [abstract]
Balance, beginning of period	(97,990)	(81,412)
Business combination – Azul Conecta	(326)
Acquisitions	(21,191)	(17,265)
Disposals/write-offs	11,786	687
Contractual modifications	0
Transfers	(196)	0
Balance, end of period	(107,917)	(97,990)
Property and equipment | Depreciation | Other – property and equipment
Changes in property, plant and equipment [abstract]
Balance, beginning of period	(16,654)	(14,799)
Business combination – Azul Conecta	(142)
Acquisitions	(2,792)	(1,860)
Disposals/write-offs	0	5
Contractual modifications	0
Transfers	(18)	0
Balance, end of period	R$ 19606	R$ 16654
Property and equipment | Depreciation | Weighted rate | Aircraft and engines
Disclosure of detailed information about property and equipment [line items]
Weighted average rate (p.a.)	8.00%	9.00%
Property and equipment | Depreciation | Weighted rate | Building and leasehold improvements
Disclosure of detailed information about property and equipment [line items]
Weighted average rate (p.a.)	17.00%	17.00%
Property and equipment | Depreciation | Weighted rate | Equipment and facilities
Disclosure of detailed information about property and equipment [line items]
Weighted average rate (p.a.)	12.00%	13.00%
Property and equipment | Depreciation | Weighted rate | Other – property and equipment
Disclosure of detailed information about property and equipment [line items]
Weighted average rate (p.a.)	11.00%	8.00%
Property and equipment | Total property and equipment
Changes in property, plant and equipment [abstract]
Balance, beginning of period	R$ 2656016	R$ 1842239
Business combination – Azul Conecta	74,206
Acquisitions	83,139	1,040,498
Disposals/write-offs	(479,985)	(197,618)
Contractual modifications	(975)
Transfers	(95,837)	(29,103)
Balance, end of period	2,236,564	2,656,016
Property and equipment | Impairment
Changes in property, plant and equipment [abstract]
Balance, beginning of period	(687,176)	0
Business combination – Azul Conecta	0
Acquisitions	0	(687,176)
Disposals/write-offs	250,318	0
Contractual modifications	0
Transfers	0	0
Balance, end of period	(436,858)	(687,176)
Right-of-use assets
Changes in property, plant and equipment [abstract]
Balance, beginning of period	7,584,803	5,559,225
Acquisitions	1,299,567	2,175,809
Disposals/write-offs	(96,877)	(108,836)
Contractual modifications	(4,216,139)
Transfers	39,387	(41,395)
Balance, end of period	4,610,741	7,584,803
Right-of-use assets | Current assets available for sale
Changes in property, plant and equipment [abstract]
Transfers (from) to property, plant and equipment	54,487
Right-of-use assets | Cost
Changes in property, plant and equipment [abstract]
Balance, beginning of period	14,510,701	9,910,785
Acquisitions	2,744,283	4,876,344
Disposals/write-offs	(275,821)	(207,145)
Contractual modifications	(4,798,065)
Transfers	78,708	(69,283)
Balance, end of period	12,259,806	14,510,701
Right-of-use assets | Cost | Other – property and equipment
Changes in property, plant and equipment [abstract]
Balance, beginning of period	42,391	28,766
Acquisitions	109	14,475
Disposals/write-offs	(12,065)	(850)
Contractual modifications	0
Transfers	0	0
Balance, end of period	30,435	42,391
Right-of-use assets | Cost | Aircraft
Changes in property, plant and equipment [abstract]
Balance, beginning of period	12,071,427	8,232,475
Acquisitions	2,197,881	4,031,436
Disposals/write-offs	(25,741)	(118,193)
Contractual modifications	(4,736,892)
Transfers	68,701	(74,291)
Balance, end of period	9,575,376	12,071,427
Right-of-use assets | Cost | Engines and simulators
Changes in property, plant and equipment [abstract]
Balance, beginning of period	484,597	336,731
Acquisitions	86,995	147,866
Disposals/write-offs	(38,160)	0
Contractual modifications	(6,515)
Transfers	1,393	0
Balance, end of period	528,310	484,597
Right-of-use assets | Cost | Restoration of aircraft and engines
Changes in property, plant and equipment [abstract]
Balance, beginning of period	423,194	283,542
Acquisitions	290,785	139,652
Disposals/write-offs	(116,968)	0
Contractual modifications	0
Transfers	0	0
Balance, end of period	597,011	423,194
Right-of-use assets | Cost | Maintenance of aircraft and engines
Changes in property, plant and equipment [abstract]
Balance, beginning of period	1,374,925	923,517
Acquisitions	168,513	534,502
Disposals/write-offs	(82,887)	(88,102)
Contractual modifications	(54,658)
Transfers	8,614	5,008
Balance, end of period	1,414,507	1,374,925
Right-of-use assets | Cost | Properties
Changes in property, plant and equipment [abstract]
Balance, beginning of period	114,167	105,754
Acquisitions	0	8,413
Disposals/write-offs	0	0
Contractual modifications	0
Transfers	0	0
Balance, end of period	114,167	114,167
Right-of-use assets | Depreciation
Changes in property, plant and equipment [abstract]
Balance, beginning of period	(5,564,542)	(4,351,560)
Acquisitions	(1,444,716)	(1,339,179)
Disposals/write-offs	106,129	98,309
Contractual modifications	0
Transfers	(39,321)	27,888
Balance, end of period	(6,942,450)	(5,564,542)
Right-of-use assets | Depreciation | Other – property and equipment
Changes in property, plant and equipment [abstract]
Balance, beginning of period	(34,776)	(13,251)
Acquisitions	(6,717)	(22,141)
Disposals/write-offs	12,064	616
Contractual modifications	0
Transfers	0	0
Balance, end of period	(29,429)	(34,776)
Right-of-use assets | Depreciation | Aircraft
Changes in property, plant and equipment [abstract]
Balance, beginning of period	(4,538,684)	(3,691,143)
Acquisitions	(954,452)	(928,018)
Disposals/write-offs	25,741	52,589
Contractual modifications	0
Transfers	(31,220)	27,888
Balance, end of period	(5,498,615)	(4,538,684)
Right-of-use assets | Depreciation | Engines and simulators
Changes in property, plant and equipment [abstract]
Balance, beginning of period	(231,625)	(192,902)
Acquisitions	(67,191)	(38,723)
Disposals/write-offs	35,595	0
Contractual modifications	0
Transfers	(1,392)	0
Balance, end of period	(264,613)	(231,625)
Right-of-use assets | Depreciation | Restoration of aircraft and engines
Changes in property, plant and equipment [abstract]
Balance, beginning of period	(145,546)	(112,043)
Acquisitions	(37,315)	(33,503)
Disposals/write-offs	0	0
Contractual modifications	0
Transfers	0	0
Balance, end of period	(182,861)	(145,546)
Right-of-use assets | Depreciation | Maintenance of aircraft and engines
Changes in property, plant and equipment [abstract]
Balance, beginning of period	(549,869)	(290,617)
Acquisitions	(368,476)	(304,356)
Disposals/write-offs	32,729	45,104
Contractual modifications	0
Transfers	(6,709)	0
Balance, end of period	(892,325)	(549,869)
Right-of-use assets | Depreciation | Properties
Changes in property, plant and equipment [abstract]
Balance, beginning of period	(64,042)	(51,604)
Acquisitions	(10,565)	(12,438)
Disposals/write-offs	0	0
Contractual modifications	0
Transfers	0	0
Balance, end of period	R$ 74607	R$ 64042
Right-of-use assets | Depreciation | Weighted rate | Other – property and equipment
Disclosure of detailed information about property and equipment [line items]
Weighted average rate (p.a.)	16.00%	77.00%
Right-of-use assets | Depreciation | Weighted rate | Aircraft
Disclosure of detailed information about property and equipment [line items]
Weighted average rate (p.a.)	8.00%	11.00%
Right-of-use assets | Depreciation | Weighted rate | Engines and simulators
Disclosure of detailed information about property and equipment [line items]
Weighted average rate (p.a.)	14.00%	11.00%
Right-of-use assets | Depreciation | Weighted rate | Restoration of aircraft and engines
Disclosure of detailed information about property and equipment [line items]
Weighted average rate (p.a.)	9.00%	12.00%
Right-of-use assets | Depreciation | Weighted rate | Maintenance of aircraft and engines
Disclosure of detailed information about property and equipment [line items]
Weighted average rate (p.a.)	27.00%	33.00%
Right-of-use assets | Depreciation | Weighted rate | Properties
Disclosure of detailed information about property and equipment [line items]
Weighted average rate (p.a.)	9.00%	12.00%
Right-of-use assets | Total property and equipment
Changes in property, plant and equipment [abstract]
Balance, beginning of period	R$ 8946159	R$ 5559225
Acquisitions	1,299,567	3,537,165
Disposals/write-offs	(169,692)	(108,836)
Contractual modifications	(4,798,065)
Transfers	39,387	(41,395)
Balance, end of period	5,317,356	8,946,159
Right-of-use assets | Impairment
Changes in property, plant and equipment [abstract]
Balance, beginning of period	(1,361,356)	0
Acquisitions	0	(1,361,356)
Disposals/write-offs	72,815	0
Contractual modifications	581,926
Transfers	0	0
Balance, end of period	R$ 706615	R$ 1361356

Property and equipment - Additi

Property and equipment - Additional information (Detail) R$ in Thousands	12 Months Ended
	Dec. 31, 2020BRL (R$)engine	Dec. 31, 2019BRL (R$)	Dec. 31, 2018BRL (R$)
Disclosure of detailed information about property and equipment [line items]
Sale and Leaseback	R$ 16224	R$ 0	R$ 0
Contractual modifications	(5,701,928)
Result from modification of lease contracts	(902,888)	R$ 0	R$ 0
Cost
Disclosure of detailed information about property and equipment [line items]
Write-off of right of use (leased property and equipment)	R$ 4799040
Aircraft Engines
Disclosure of detailed information about property and equipment [line items]
Sale and leaseback transactions, number of property, plant and equipment | engine	5
Sale and Leaseback	R$ 17104

Intangible assets - Schedule of

Intangible assets - Schedule of Changes in Intangible Assets and goodwill (Detail) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	R$ 1087484	R$ 1016556
Acquisitions, intangible assets		70,928
Acquisitions, Total	88,882
Disposals/write-offs	(6,098)	0
Intangible assets and goodwill at end of period	1,170,268	1,087,484
Goodwill	810,948
Cost
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	1,325,602	1,193,155
Acquisitions, intangible assets		132,447
Acquisitions, Total	167,033
Disposals/write-offs	(6,157)	0
Intangible assets and goodwill at end of period	1,486,478	1,325,602
Cost | Goodwill
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	753,502	753,502
Acquisitions, goodwill	57,446	0
Disposals/write-offs	0	0
Intangible assets and goodwill at end of period	810,948	753,502
Cost | Airport operating licenses
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	82,196	82,196
Acquisitions, goodwill	0	0
Disposals/write-offs	0	0
Intangible assets and goodwill at end of period	82,196	82,196
Cost | Software
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	489,904	357,457
Acquisitions, intangible assets	109,587	132,447
Disposals/write-offs	(6,157)	0
Intangible assets and goodwill at end of period	593,334	489,904
Amortization
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	(238,118)	(176,599)
Acquisitions, intangible assets	(78,151)	(61,519)
Disposals/write-offs	59	0
Intangible assets and goodwill at end of period	(316,210)	(238,118)
Amortization | Software
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	(238,118)	(176,599)
Acquisitions, intangible assets	(78,151)	(61,519)
Disposals/write-offs	59	0
Intangible assets and goodwill at end of period	R$ 316210	R$ 238118
Amortization | Software | Weighted rate
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Weighted average rate (p.a.)	16.00%	17.00%

Intangible assets - Schedule _2

Intangible assets - Schedule of Sensitivity analysis of the impairment test of intangible assets without a finite useful life (Detail) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of intangible assets with indefinite useful life [line items]
Entity's operating plans and internal projections, covered period	5 years
Goodwill
Disclosure of intangible assets with indefinite useful life [line items]
Pre-tax discount rate	10.30%	8.80%
Growth rate in perpetuity	3.00%	3.40%
Goodwill | Carrying amount
Disclosure of intangible assets with indefinite useful life [line items]
Intangible assets with indefinite useful life	R$ 810948	R$ 753502
Goodwill | Carrying amount - CGU
Disclosure of intangible assets with indefinite useful life [line items]
Intangible assets with indefinite useful life	6,410,447	9,553,643
Goodwill | Value in use
Disclosure of intangible assets with indefinite useful life [line items]
Intangible assets with indefinite useful life	R$ 32227871	R$ 34595386
Airport operating licenses
Disclosure of intangible assets with indefinite useful life [line items]
Pre-tax discount rate	8.50%	9.80%
Growth rate in perpetuity	3.00%	3.40%
Airport operating licenses | Carrying amount
Disclosure of intangible assets with indefinite useful life [line items]
Intangible assets with indefinite useful life	R$ 82196	R$ 82196
Airport operating licenses | Carrying amount - CGU
Disclosure of intangible assets with indefinite useful life [line items]
Intangible assets with indefinite useful life	0	0
Airport operating licenses | Value in use
Disclosure of intangible assets with indefinite useful life [line items]
Intangible assets with indefinite useful life	R$ 1726007	R$ 3219401

Loans and financing - Rollforwa

Loans and financing - Rollforward of loans and financing (Detail) - BRL (R$) R$ in Thousands	Oct. 26, 2020	Oct. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about borrowings [line items]
Balance in the biginning of the period			R$ 3518156	R$ 2756126
Proceeds			1,936,223	813,328
Variarion of conversion right			755,354
Debt acknowled-gment			527,375
Business combination – Azul Conecta			16,540
Payment of principal			(192,408)	(176,106)
Payment of interest			(193,741)	(165,598)
Interest incurred			282,609	189,991
Exchange differences				90,015
Foreing exchanges variations			690,812	10,400
Amortised cost			19,594
Total loans and financing			3,518,156	2,756,126	R$ 7360514	R$ 3518156	R$ 2756126
Current					858,332	481,227	158,813
Non-current					R$ 6502182	R$ 3036929	2,597,313
Convertible debt
Disclosure of detailed information about borrowings [line items]
Variarion of conversion right	R$ 755354	R$ 755354
Total loans and financing		R$ 1745900
In foreign currency – US$ | Working capital
Disclosure of detailed information about borrowings [line items]
Nominal rate p.a.						5.90%
Effective rate p.a.					6.20%	5.70%
Balance in the biginning of the period			1,727,882	1,656,947
Proceeds			4,682
Payment of principal			(907)	(350)
Payment of interest			(137,795)	(96,970)
Interest incurred			132,033	94,610
Exchange differences				70,629
Foreing exchanges variations			504,766	3,016
Amortised cost			6,183
Total loans and financing			1,727,882	1,656,947	R$ 2236844	R$ 1727882	1,656,947
In foreign currency – US$ | Working capital | LIBOR
Disclosure of detailed information about borrowings [line items]
Variable spread on interest rate (as a percent)						0.88%
In foreign currency – US$ | Working capital | Bottom of range
Disclosure of detailed information about borrowings [line items]
Nominal rate p.a.					1.00%
In foreign currency – US$ | Working capital | Top of range
Disclosure of detailed information about borrowings [line items]
Nominal rate p.a.					5.90%
In foreign currency – US$ | Debentures
Disclosure of detailed information about borrowings [line items]
Effective rate p.a.					20.50%
Balance in the biginning of the period			0
Proceeds			1,702,155
Variarion of conversion right			755,354
Payment of principal			0
Payment of interest			0
Interest incurred			25,116
Foreing exchanges variations			(82,358)
Amortised cost			19,437
Total loans and financing			0		R$ 2419704	R$ 0
In foreign currency – US$ | Debentures | Bottom of range
Disclosure of detailed information about borrowings [line items]
Nominal rate p.a.					6.00%
In foreign currency – US$ | Debentures | Top of range
Disclosure of detailed information about borrowings [line items]
Nominal rate p.a.					7.50%
In foreign currency – US$ | Aircraft and engines
Disclosure of detailed information about borrowings [line items]
Nominal rate p.a.						6.07%
Effective rate p.a.					5.60%	5.50%
Balance in the biginning of the period			896,232	100,042
Proceeds				813,328
Payment of principal			(111,703)	(43,795)
Payment of interest			(23,880)	(24,047)
Interest incurred			54,178	28,076
Exchange differences				19,386
Foreing exchanges variations			268,404	3,242
Amortised cost			1,474
Total loans and financing			896,232	100,042	R$ 1084705	R$ 896232	100,042
In foreign currency – US$ | Aircraft and engines | LIBOR 6 months
Disclosure of detailed information about borrowings [line items]
Variable spread on interest rate (as a percent)					2.00%
In foreign currency – US$ | Aircraft and engines | LIBOR
Disclosure of detailed information about borrowings [line items]
Variable spread on interest rate (as a percent)						2.55%
In foreign currency – US$ | Aircraft and engines | US Treasury
Disclosure of detailed information about borrowings [line items]
Variable spread on interest rate (as a percent)						3.25%
In foreign currency – US$ | Aircraft and engines | Bottom of range
Disclosure of detailed information about borrowings [line items]
Nominal rate p.a.					4.70%
In foreign currency – US$ | Aircraft and engines | Bottom of range | LIBOR 3 months
Disclosure of detailed information about borrowings [line items]
Variable spread on interest rate (as a percent)					2.40%
In foreign currency – US$ | Aircraft and engines | Top of range
Disclosure of detailed information about borrowings [line items]
Nominal rate p.a.					6.00%
In foreign currency – US$ | Aircraft and engines | Top of range | LIBOR 3 months
Disclosure of detailed information about borrowings [line items]
Variable spread on interest rate (as a percent)					2.90%
In local currency – R$ | Working capital
Disclosure of detailed information about borrowings [line items]
Nominal rate p.a.						5.00%
Effective rate p.a.					4.10%	7.20%
Balance in the biginning of the period			37,355	75,757
Proceeds			229,386
Debt acknowled-gment			527,375
Business combination – Azul Conecta			4,975
Payment of principal			(58,746)	(37,752)
Payment of interest			(3,366)	(5,059)
Interest incurred			39,365	3,520
Foreing exchanges variations				889
Amortised cost			107
Total loans and financing			37,355	75,757	R$ 776481	R$ 37355	75,757
In local currency – R$ | Working capital | Fixed interest rate -TJLP
Disclosure of detailed information about borrowings [line items]
Variable spread on interest rate (as a percent)					5.00%
In local currency – R$ | Working capital | Bottom of range
Disclosure of detailed information about borrowings [line items]
Nominal rate p.a.					5.00%
In local currency – R$ | Working capital | Bottom of range | Local interbank deposit certificate rate - CDI
Disclosure of detailed information about borrowings [line items]
Variable spread on interest rate (as a percent)					2.00%
Variable interest rate basis						125.00%
In local currency – R$ | Working capital | Top of range
Disclosure of detailed information about borrowings [line items]
Nominal rate p.a.					10.70%
In local currency – R$ | Working capital | Top of range | Local interbank deposit certificate rate - CDI
Disclosure of detailed information about borrowings [line items]
Variable spread on interest rate (as a percent)					6.00%
Variable interest rate basis						126.00%
In local currency – R$ | Debentures
Disclosure of detailed information about borrowings [line items]
Effective rate p.a.					2.90%	6.80%
Balance in the biginning of the period			692,407	730,519
Payment of principal			0	(64,345)
Payment of interest			(18,459)	(26,784)
Interest incurred			24,238	49,808
Foreing exchanges variations				3,209
Amortised cost			(7,282)
Total loans and financing			692,407	730,519	R$ 690904	R$ 692407	730,519
In local currency – R$ | Debentures | Local interbank deposit certificate rate - CDI
Disclosure of detailed information about borrowings [line items]
Variable spread on interest rate (as a percent)					3.00%
In local currency – R$ | Debentures | Bottom of range | Local interbank deposit certificate rate - CDI
Disclosure of detailed information about borrowings [line items]
Variable interest rate basis						117.00%
In local currency – R$ | Debentures | Top of range | Local interbank deposit certificate rate - CDI
Disclosure of detailed information about borrowings [line items]
Variable interest rate basis						122.00%
In local currency – R$ | Aircraft and engines
Disclosure of detailed information about borrowings [line items]
Effective rate p.a.					6.10%	4.50%
Balance in the biginning of the period			164,280	192,861
Business combination – Azul Conecta			11,565
Payment of principal			(21,052)	(29,864)
Payment of interest			(10,241)	(12,738)
Interest incurred			7,649	13,977
Foreing exchanges variations				44
Amortised cost			(325)
Total loans and financing			R$ 164280	R$ 192861	R$ 151876	R$ 164280	R$ 192861
In local currency – R$ | Aircraft and engines | Fixed interest rate -TJLP
Disclosure of detailed information about borrowings [line items]
Variable spread on interest rate (as a percent)					5.00%
In local currency – R$ | Aircraft and engines | SELIC
Disclosure of detailed information about borrowings [line items]
Variable spread on interest rate (as a percent)						5.46%
In local currency – R$ | Aircraft and engines | Bottom of range
Disclosure of detailed information about borrowings [line items]
Nominal rate p.a.					6.00%	6.00%
In local currency – R$ | Aircraft and engines | Bottom of range | SELIC
Disclosure of detailed information about borrowings [line items]
Variable spread on interest rate (as a percent)					2.80%
In local currency – R$ | Aircraft and engines | Top of range
Disclosure of detailed information about borrowings [line items]
Nominal rate p.a.					6.50%	6.50%
In local currency – R$ | Aircraft and engines | Top of range | SELIC
Disclosure of detailed information about borrowings [line items]
Variable spread on interest rate (as a percent)					5.50%

Loans and financing - Schedule

Loans and financing - Schedule of amortization of long-term debt (Detail) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Non-current	R$ 6502182	R$ 3036929	R$ 2597313
Year one
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Non-current	0
Year two
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Non-current	743,137	539,378
Year three
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Non-current	914,343	359,943
Year four
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Non-current	2,264,451	277,465
Year five
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Non-current	2,551,701	1,764,136
After year five
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Non-current	R$ 28550
Year six
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Non-current		62,164
After year six
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Non-current		R$ 33843

Loans and financing - Debenture

Loans and financing - Debentures convertible into shares (Detail)	Oct. 26, 2020BRL (R$)sessionR$ / shares	Oct. 31, 2020BRL (R$)	Dec. 31, 2020BRL (R$)
Disclosure of detailed information about borrowings [line items]
VWAP calculation, number of trading sessions | session	30
Variarion of conversion right			R$ 755354000
Convertible debt
Disclosure of detailed information about borrowings [line items]
Issue amount	R$ 1745900000
Maturity term	5 years	5 years
Conversion price per share | R$ / shares	R$ 32.2649
Conversion premium rate	27.50%
Conversion price per reference share | R$ / shares	R$ 25.3058
Minimum redemption period	36 months
Variarion of conversion right	R$ 755354000	R$ 755354000
Convertible debt | Minimum
Disclosure of detailed information about borrowings [line items]
Minimum redemption rate	130.00%

Loans and financing - Schedul_2

Loans and financing - Schedule of Covenants Related to Leverage and Debt Coverage Ratios (Detail)	Dec. 31, 2020
Maximum | Ninth and Tenth Issuance Of Debentures [Member] | Annual
Disclosure of detailed information about borrowings [line items]
Leverage ratio	6.5
Maximum | Aircraft Financing [Member] | Annual
Disclosure of detailed information about borrowings [line items]
Leverage ratio	6.5
Maximum | Aircraft Financing [Member] | Quarterly/Annual
Disclosure of detailed information about borrowings [line items]
Leverage ratio	5.5
Minimum | Ninth and Tenth Issuance Of Debentures [Member] | Annual
Disclosure of detailed information about borrowings [line items]
Debt coverage ratio	1.2
Minimum | Aircraft Financing [Member] | Annual
Disclosure of detailed information about borrowings [line items]
Debt coverage ratio	1.2
Minimum | Aircraft Financing [Member] | Quarterly/Annual
Disclosure of detailed information about borrowings [line items]
Debt coverage ratio	1.2

Lease liabilities - Rollforward

Lease liabilities - Rollforward of lease liabilities (Detail) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Balances at the beginning of the period	R$ 12106621	R$ 8919746
Contractual modifications	(5,701,928)
Lease liabilities	R$ 12106621	R$ 8919746	R$ 12520812	R$ 12106621	R$ 8919746
Current liabilities			2,272,349	1,585,233	1,237,909
Non-current liabilities			R$ 10248463	R$ 10521388	7,681,837
Lease without purchase option: Aircraft and engines
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Average payment term in years	7 years 10 months 20 days	8 years 3 months 3 days
Weighted average rate			22.19%	8.20%
Balances at the beginning of the period	R$ 11046134	R$ 7725397
Lease liabilities	R$ 11046134	R$ 7725397	R$ 11663143	R$ 11046134	7,725,397
Lease without purchase option: Other
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Average payment term in years	2 years 1 month 13 days	2 years 10 months 24 days
Weighted average rate			8.11%	7.64%
Balances at the beginning of the period	R$ 72230	R$ 82545
Lease liabilities	R$ 72230	R$ 82545	R$ 57278	R$ 72230	82,545
Lease with purchase option: Aircraft and engines
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Average payment term in years	5 years 6 months 14 days	4 years 2 months 26 days
Weighted average rate			13.56%	6.15%
Balances at the beginning of the period	R$ 988257	R$ 1111804
Lease liabilities	988,257	1,111,804	R$ 800391	R$ 988257	R$ 1111804
Lease liabilities
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Additions	2,329,443	4,208,390
Contractual modifications	(5,701,928)
Payments	1,416,027	2,174,468
Interest incurred	(1,569,151)	(806,008)
Write-offs	(4,912)	(25,054)
Foreign exchanges variations	3,638,464	371,999
Lease liabilities | Lease without purchase option: Aircraft and engines
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Additions	2,329,443	4,153,314
Contractual modifications	(5,327,038)
Payments	1,162,869	1,865,472
Interest incurred	(1,431,944)	(726,613)
Write-offs	(4,912)	(24,775)
Foreign exchanges variations	3,350,441	331,057
Lease liabilities | Lease without purchase option: Other
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Additions	0	22,888
Contractual modifications	0
Payments	21,741	39,008
Interest incurred	(6,881)	(8,628)
Write-offs	0	(279)
Foreign exchanges variations	(92)	(2,544)
Lease liabilities | Lease with purchase option: Aircraft and engines
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Additions	0	32,188
Contractual modifications	(374,890)
Payments	231,417	269,988
Interest incurred	(130,326)	(70,767)
Write-offs	0	0
Foreign exchanges variations	R$ 288115	R$ 43486

Lease liabilities - Schedule of

Lease liabilities - Schedule of lease amortization (Detail) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Detailed Information About Future Minimum Payments Of Lease Liabilities [Line Items]
Minimum lease payment	R$ 27168570	R$ 16239050
Financial charges	(14,647,758)	(4,132,429)
Lease liabilities	12,520,812	12,106,621	R$ 8919746
Contractual modifications	(5,701,928)
Result from modification of lease contracts	902,888	0	R$ 0
Cost
Disclosure Of Detailed Information About Future Minimum Payments Of Lease Liabilities [Line Items]
Write-off of right of use (leased property and equipment)	(4,799,040)
Year one
Disclosure Of Detailed Information About Future Minimum Payments Of Lease Liabilities [Line Items]
Minimum lease payment	2,498,180	2,481,457
Year two
Disclosure Of Detailed Information About Future Minimum Payments Of Lease Liabilities [Line Items]
Minimum lease payment	3,206,765	2,335,363
Year three
Disclosure Of Detailed Information About Future Minimum Payments Of Lease Liabilities [Line Items]
Minimum lease payment	3,641,808	2,406,701
Year four
Disclosure Of Detailed Information About Future Minimum Payments Of Lease Liabilities [Line Items]
Minimum lease payment	3,610,754	1,875,308
After year four
Disclosure Of Detailed Information About Future Minimum Payments Of Lease Liabilities [Line Items]
Minimum lease payment	R$ 14211063
Year five
Disclosure Of Detailed Information About Future Minimum Payments Of Lease Liabilities [Line Items]
Minimum lease payment		1,560,055
After year five
Disclosure Of Detailed Information About Future Minimum Payments Of Lease Liabilities [Line Items]
Minimum lease payment		R$ 5580166

Accounts payable - Summary of a

Accounts payable - Summary of accounts payable (Detail) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Trade and other payables [abstract]
Accounts payable – local currency	R$ 1612933	R$ 952439
Accounts payable – foreign currency	948,794	424,411
Accounts payable	2,561,727	1,376,850
Current	2,238,668	1,376,850
Non-current	R$ 323059	R$ 0

Rights and Obligations with F_3

Rights and Obligations with Financial Instruments (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of changes in fair value [line items]
Rights (obligations) with derivatives, beginning balance	R$ 515734	R$ 154386
Gains (losses) recognized in result	(1,452,116)	325,452	R$ 298094
Gains (losses) in OCI	159,261	(5,292)	(139,281)
Reclassification to debt	527,375
(Receipt) payment in cash	257,021	41,188
Rights (obligations) with derivatives, ending balance	7,275	515,734	154,386
Derivatives designated as hedge | Cash flow hedge | Interest rate swap
Disclosure of changes in fair value [line items]
Rights (obligations) with derivatives, beginning balance	(7,129)	(9,422)
Gains (losses) recognized in result	(4,799)	(4,072)
Gains (losses) in OCI	7,129	2,294
Reclassification to debt	0
(Receipt) payment in cash	4,799	4,071
Rights (obligations) with derivatives, ending balance	0	(7,129)	(9,422)
Derivatives designated as hedge | Cash flow hedge | Options – foreign currency
Disclosure of changes in fair value [line items]
Rights (obligations) with derivatives, beginning balance	338,592	246,323
Gains (losses) recognized in result	(94,928)	99,855
Gains (losses) in OCI	152,132	(7,586)
Reclassification to debt	(218,979)
(Receipt) payment in cash	(176,817)	0
Rights (obligations) with derivatives, ending balance	0	338,592	246,323
Derivatives designated as hedge | Fair value hedge | Interest rate swap
Disclosure of changes in fair value [line items]
Rights (obligations) with derivatives, beginning balance	24,057	20,080
Gains (losses) recognized in result	24,421	6,133
Reclassification to debt	(43,485)
(Receipt) payment in cash	(2,744)	(2,156)
Rights (obligations) with derivatives, ending balance	2,249	24,057	20,080
Derivatives not designated as hedge | Interest rate swap
Disclosure of changes in fair value [line items]
Rights (obligations) with derivatives, beginning balance	(62,803)	(166,987)
Gains (losses) recognized in result	(22,846)	140,159
Reclassification to debt	(101,136)
(Receipt) payment in cash	(82,706)	(35,975)
Rights (obligations) with derivatives, ending balance	(269,491)	(62,803)	(166,987)
Derivatives not designated as hedge | Options – foreign currency
Disclosure of changes in fair value [line items]
Rights (obligations) with derivatives, beginning balance	(35,487)	(45,949)
Gains (losses) recognized in result	(143,156)	10,462
Reclassification to debt	127,889
(Receipt) payment in cash	57,453	0
Rights (obligations) with derivatives, ending balance	6,699	(35,487)	(45,949)
Derivatives not designated as hedge | Fuel
Disclosure of changes in fair value [line items]
Rights (obligations) with derivatives, beginning balance	56,491	(123,223)
Gains (losses) recognized in result	(1,374,519)	115,189
Reclassification to debt	778,286
(Receipt) payment in cash	458,468	64,525
Rights (obligations) with derivatives, ending balance	(81,274)	56,491	(123,223)
Derivatives not designated as hedge | Forward – foreign currency
Disclosure of changes in fair value [line items]
Rights (obligations) with derivatives, beginning balance	202,013	233,564
Gains (losses) recognized in result	163,711	(42,274)
Reclassification to debt	(15,200)
(Receipt) payment in cash	(1,432)	10,723
Rights (obligations) with derivatives, ending balance	R$ 349092	R$ 202013	R$ 233564

Rights and Obligations with F_4

Rights and Obligations with Financial Instruments - Movement of equity method adjustment (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items]
Balances at the beginning of the period	R$ 159261
Fair value adjustments during the period	(2,207,470)	R$ 367753	R$ 298799
Balances at the end of the period	(655)	159,261
Derivatives designated as hedge | Cash flow hedge
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items]
Balances at the beginning of the period	159,261	161,554
Fair value adjustments during the period	2,918	(98,077)
Net reversals to result	(153,055)	95,784
Derecognition of hedged item	(9,124)
Balances at the end of the period	0	159,261	161,554
Derivatives designated as hedge | Cash flow hedge | Interest rate swap
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items]
Balances at the beginning of the period	7,129	9,422
Fair value adjustments during the period	2,918	1,778
Net reversals to result	(923)	(4,071)
Derecognition of hedged item	(9,124)
Balances at the end of the period	0	7,129	9,422
Derivatives designated as hedge | Cash flow hedge | Options – foreign currency
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items]
Balances at the beginning of the period	152,132	152,132
Fair value adjustments during the period	0	(99,855)
Net reversals to result	(152,132)	99,855
Derecognition of hedged item
Balances at the end of the period	R$ 0	R$ 152132	R$ 152132

Air Traffic Liability - Schedul

Air Traffic Liability - Schedule of Air Traffic Liability (Detail) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of air traffic liability [Line Items]
Air traffic liability	R$ 2488872	R$ 2094254
Travel rescheduling duration period from the date of flight cancellation	18 months
Passenger revenue breakage	R$ 372534	539,232
Cargo and passenger air traffic liability
Disclosure of air traffic liability [Line Items]
Air traffic liability	1,550,579	1,294,263
Azul Viagens
Disclosure of air traffic liability [Line Items]
Air traffic liability	183,061	109,977
TudoAzul program
Disclosure of air traffic liability [Line Items]
Air traffic liability	R$ 755232	R$ 685982

Provisions - Schedule of Change

Provisions - Schedule of Changes in Provisions (Detail) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Disclosure of provisions [line items]
Balance at the beginning of the year	R$ 1813352	R$ 750024
Business combination – Azul Conecta	1,688
Addition of provision	859,955	1,369,759
Write-offs and/or payments	(497,844)	(427,138)
Interest incurred	291,637	85,999
Changes in assumptions	(655)
Foreing exchanges variations	374,342	34,708
Balance at the ending of the year	1,813,352	750,024	R$ 2842475	R$ 1813352
Current			853,810	323,441
Non-current			1,988,665	1,489,911
Provisions for return of aircraft and engines
Disclosure of provisions [line items]
Balance at the beginning of the year	904,095	669,041
Business combination – Azul Conecta	0
Addition of provision	304,594	139,652
Write-offs and/or payments	(118,504)
Interest incurred	84,939	67,366
Changes in assumptions	0
Foreing exchanges variations	161,062	28,036
Balance at the ending of the year	904,095	669,041	1,336,186	904,095
Current			106,944
Non-current			1,229,242
Provisions for tax, civil and labor risks
Disclosure of provisions [line items]
Balance at the beginning of the year	87,506	80,983
Business combination – Azul Conecta	1,688
Addition of provision	183,014	100,241
Write-offs and/or payments	(116,394)	(93,718)
Interest incurred	0	0
Changes in assumptions	0
Foreing exchanges variations	0	0
Balance at the ending of the year	87,506	80,983	155,814	87,506
Current			0
Non-current			155,814
Provisions for onerous contract
Disclosure of provisions [line items]
Balance at the beginning of the year	821,751	0
Business combination – Azul Conecta	0
Addition of provision	362,426	1,129,866
Write-offs and/or payments	(262,946)	(333,420)
Interest incurred	206,011	18,633
Changes in assumptions	0
Foreing exchanges variations	213,280	6,672
Balance at the ending of the year	821,751	R$ 0	1,340,522	821,751
Current			746,866
Non-current			593,656
Provisions for post-employment benefit
Disclosure of provisions [line items]
Balance at the beginning of the year	0
Business combination – Azul Conecta	0
Addition of provision	9,921
Write-offs and/or payments	0
Interest incurred	687
Changes in assumptions	(655)
Foreing exchanges variations	0
Balance at the ending of the year	R$ 0		9,953	R$ 0
Current			0
Non-current			R$ 9953

Provisions - Schedule of provis

Provisions - Schedule of provision for tax, civil and labor risks (Detail) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Provisions for tax, civil and labor risks
Disclosure of other provisions [line items]
Probable loss	R$ 155814	R$ 87506
Possible loss	312,511	316,553
Tax
Disclosure of other provisions [line items]
Probable loss	2,858	2,024
Possible loss	154,640	116,074
Tax | Tax claims
Disclosure of other provisions [line items]
Possible loss	R$ 144352	102,317
Additional charges rate in tax claims	1.00%
Tax exemption rate in tax claims	0.00%
Civil
Disclosure of other provisions [line items]
Probable loss	R$ 104915	45,067
Possible loss	43,347	77,360
Labor
Disclosure of other provisions [line items]
Probable loss	48,041	40,415
Possible loss	114,524	R$ 123119
Labor | Labor lawsuit
Disclosure of other provisions [line items]
Possible loss	R$ 66000

Provisions - Schedule of Prov_2

Provisions - Schedule of Provision for post-employment benefit (Detail) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of other provisions [line items]
Current service cost recognized in result	R$ 859955	R$ 1369759
Provisions for post-employment benefit
Disclosure of other provisions [line items]
Balance at the beginning of the year	0
Current service cost recognized in result	9,921
Cost of interest recognized in result	687
Effect of change in financial assumptions	(962)
Effect of plan experience	307
Balance at the ending of the year	R$ 9953	R$ 0

Provisions - Schedule of actori

Provisions - Schedule of actorial assumptions for post-employment benefit (Detail)	Dec. 31, 2020
Nominal discount rate p.a.
Disclosure of sensitivity analysis for actuarial assumptions
Actuarial assumption of discount rates	7.43%
Actual discount rate p.a.
Disclosure of sensitivity analysis for actuarial assumptions
Actuarial assumption of discount rates	3.80%
Estimated inflation rate in the long term p.a.
Disclosure of sensitivity analysis for actuarial assumptions
Actuarial assumption of discount rates	3.50%
HCCTR – Average nominal inflation rate p.a.
Disclosure of sensitivity analysis for actuarial assumptions
Actuarial assumption of discount rates	6.60%
HCCTR – Actual nominal inflation rate p.a.
Disclosure of sensitivity analysis for actuarial assumptions
Actuarial assumption of discount rates	3.00%
Mortality table
Disclosure of sensitivity analysis for actuarial assumptions
Actuarial assumption of discount rates	10.00%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Compensation for Key Management Personnel (Detail) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of transactions between related parties [abstract]
Salaries and charges	R$ 18075	R$ 22187	R$ 16275
Bonus	11,717	7,255	7,263
Share-based payment plan	36,986	29,129	21,508
Total compensation	R$ 66778	R$ 58571	R$ 45046

Related Party Transactions - _2

Related Party Transactions - Schedule for Sensitivity analysis: variations in share value (Details) - BRL (R$) R$ / shares in Units, R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of transactions between related parties [line items]
Expense	R$ 36986	R$ 29129	R$ 21508
Key management personnel
Disclosure of transactions between related parties [line items]
Stock price	R$ 39.30
Expense	R$ 36986
Vesting period (in years)	4 years
Key management personnel | Devaluation -50%
Disclosure of transactions between related parties [line items]
Stock price	R$ 19.65
Expense	R$ 12203
Key management personnel | Devaluation -25%
Disclosure of transactions between related parties [line items]
Stock price	R$ 29.48
Expense	R$ 21807

Related Parties - Additional In

Related Parties - Additional Information (Detail) R$ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2019BRL (R$)aircraft	Dec. 31, 2020BRL (R$)	Dec. 31, 2019BRL (R$)	Dec. 29, 2020BRL (R$)	Mar. 02, 2020	Sep. 02, 2016
Shareholder
Disclosure of transactions between related parties [line items]
Loan agreement receivable, non current	R$ 12789	R$ 16973	R$ 12789
Shareholder | LIBOR 3 months
Disclosure of transactions between related parties [line items]
Variable spread on interest rate						2.30%
Aguia Branca Participacoes SA
Disclosure of transactions between related parties [line items]
Technology services acquired		51	50
Caprioli Turismo Ltd
Disclosure of transactions between related parties [line items]
Ticket sales contract, line of credit, lending capacity		20
Breeze Aviation Group
Disclosure of transactions between related parties [line items]
Loan agreement receivable, non current				R$ 24167
Number of aircraft subleased | aircraft	28
Sublease arrangement, related party transaction, shareholders approval rate					97.00%
Former shareholder
Disclosure of transactions between related parties [line items]
Loan agreement receivable, non current	R$ 30347	R$ 39339	R$ 30347

Equity - Schedule of Issued Cap

Equity - Schedule of Issued Capital and Authorized Shares, All Registered and Without Par Value (Detail) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of classes of share capital [line items]
Company's capital	R$ 2246367	R$ 2243215
Common Shares
Disclosure of classes of share capital [line items]
Shares issued	928,965,058	928,965,058
Preference Shares
Disclosure of classes of share capital [line items]
Shares issued	331,644,724	329,568,166

Equity - Schedule of shareholde

Equity - Schedule of shareholders in percent (Detail)	Dec. 31, 2020	Dec. 31, 2019
David Neeleman
Disclosure of classes of share capital [line items]
% economic participation	3.50%	5.80%
Acionistas Trip
Disclosure of classes of share capital [line items]
% economic participation	6.50%	6.50%
United Airlines Inc
Disclosure of classes of share capital [line items]
% economic participation	7.80%	7.90%
Other
Disclosure of classes of share capital [line items]
% economic participation	82.10%	79.70%
Treasury
Disclosure of classes of share capital [line items]
% economic participation	0.10%	0.10%
Common Shares | David Neeleman
Disclosure of classes of share capital [line items]
Proportion of ownership interest in entity by participating shareholder	67.00%	67.00%
Common Shares | Acionistas Trip
Disclosure of classes of share capital [line items]
Proportion of ownership interest in entity by participating shareholder	33.00%	33.00%
Preference Shares | David Neeleman
Disclosure of classes of share capital [line items]
Proportion of ownership interest in entity by participating shareholder	1.20%	3.50%
Preference Shares | Acionistas Trip
Disclosure of classes of share capital [line items]
Proportion of ownership interest in entity by participating shareholder	5.50%	5.50%
Preference Shares | United Airlines Inc
Disclosure of classes of share capital [line items]
Proportion of ownership interest in entity by participating shareholder	8.10%	8.20%
Preference Shares | Other
Disclosure of classes of share capital [line items]
Proportion of ownership interest in entity by participating shareholder	85.10%	82.70%
Preference Shares | Treasury
Disclosure of classes of share capital [line items]
Proportion of ownership interest in entity by participating shareholder	0.10%	0.10%

Equity - Schedule of Treasury S

Equity - Schedule of Treasury Shares (Detail) - BRL (R$) shares in Thousands, R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Equity [abstract]
Number of shares, Beginning Balance	444,245	332,980
Acquisition		301,008
Cancellation	(178,784)	(189,743)
Number of shares, End of Balance	265,461	444,245
Beginning Balance	R$ 15565	R$ 10550
Acquisition		12,853
Cancellation	(2,383)	(7,838)
Ending Balance	R$ 13182	R$ 15565

Equity - Additional Information

Equity - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020votemultipliershares
Disclosure of classes of share capital [line items]
Number of votes per common share | vote	1
Multiplier to price per share paid to the controlling shareholder used to determine the purchase price per share of preferred shares in a public offering	75
Multiplier to the price per common share that preferred shares have the right to receive in the case of liquidation upon splitting of remaining assets among shareholders	75
Multiplier to the price per common share used to determine the amount of dividends that may be received	75
Preference Shares
Disclosure of classes of share capital [line items]
Number of additional shares authorized for issue | shares	104,949,010

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Earnings (Loss) Per Common and Preferred Share (Detail) - BRL (R$) R$ / shares in Units, R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator
Loss for the year	R$ 10834709	R$ 2403086	R$ 635731
Denominator
Weighted average of shares that would have been issued at average market price	4,705,897	6,805,600	6,400,619
Share-based payments
Denominator
Weighted average number of stock options and restricted shares	63,789,234	9,865,114	11,530,390
Common Shares
Denominator
Weighted average number of shares	928,965,058	928,965,058	928,965,058
Weighted average number of equivalent shares	25,662,417,083	25,571,811,221	25,327,251,414
Basic earnings per share
Basic net income (loss) per share	R$ 0.42	R$ 0.09	R$ 0.03
Diluted earnings per share
Diluted net income (loss) per share	R$ 0.42	R$ 0.09	R$ 0.03
Preference Shares
Denominator
Weighted average number of shares	329,779,360	328,571,282	325,310,485
75 preferred shares	75	75	75
Weighted average number of equivalent shares	342,165,561	340,957,483	337,696,686
Basic earnings per share
Basic net income (loss) per share	R$ 31.67	R$ 7.05	R$ 1.88
Diluted earnings per share
Diluted net income (loss) per share	R$ 31.67	R$ 7.05	R$ 1.88

Earnings (Loss) Per Share - S_2

Earnings (Loss) Per Share - Schedule of Earnings (Loss) Per Common and Preferred Share (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2020multipliershares	Dec. 31, 2019shares	Dec. 31, 2018shares
Earnings per share [line items]
Multiplier to the price per common share used to determine the amount of dividends that may be received | multiplier	75
Common Shares
Earnings per share [line items]
Weighted average number of shares	928,965,058	928,965,058	928,965,058
Stock conversion ratio	75
Preference Shares
Earnings per share [line items]
Weighted average number of shares	329,779,360	328,571,282	325,310,485
Weighted average number of preferred shares, conversion analysis	12,386,200

Share-based Option Plan - Summa

Share-based Option Plan - Summary of Measurement of Grant Date Fair Value of Share Options (Detail)

Jul. 06, 2017shareR$ / shares

Mar. 14, 2017shareR$ / shares

Jan. 07, 2016shareR$ / shares

Jul. 01, 2015shareR$ / shares

Jun. 30, 2014shareR$ / shares

Apr. 05, 2011shareR$ / shares

Mar. 24, 2011shareR$ / shares

Dec. 11, 2009shareR$ / shares

Dec. 31, 2020shareplan

Dec. 31, 2020share

Dec. 31, 2019share

Dec. 31, 2018share

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of share-based compensation plans | plan

3

Stock option plan

Disclosure of terms and conditions of share-based payment arrangement [line items]

Total options granted

20,901,959

Total outstanding options

6,108,210

6,108,210

8,184,768

11,190,829

Stock option plan | December 11, 2009

Disclosure of terms and conditions of share-based payment arrangement [line items]

Total options granted

5,032,800

Total outstanding options

296,470

296,470

Share exercise price | R$ / shares

R$ 3.42

Fair value of option on the date of grant | R$ / shares

R$ 1.93

Estimated volatility of share price

47.67%

Expected dividend

1.10%

Risk-free return rate

8.75%

Average remaining maturity (in years)

0 years

Stock option plan | March 24, 2011

Disclosure of terms and conditions of share-based payment arrangement [line items]

Total options granted

1,572,000

Total outstanding options

84,000

84,000

Share exercise price | R$ / shares

R$ 6.44

Fair value of option on the date of grant | R$ / shares

R$ 4.16

Estimated volatility of share price

54.77%

Expected dividend

1.10%

Risk-free return rate

12.00%

Average remaining maturity (in years)

0 years

Stock option plan | April 5, 2011

Disclosure of terms and conditions of share-based payment arrangement [line items]

Total options granted

656,000

Total outstanding options

8,960

8,960

Share exercise price | R$ / shares

R$ 6.44

Fair value of option on the date of grant | R$ / shares

R$ 4.16

Estimated volatility of share price

54.77%

Expected dividend

1.10%

Risk-free return rate

12.00%

Average remaining maturity (in years)

0 years

Stock option plan | June 30, 2014

Disclosure of terms and conditions of share-based payment arrangement [line items]

Total options granted

2,169,122

Total outstanding options

786,197

786,197

Share exercise price | R$ / shares

R$ 19.15

Fair value of option on the date of grant | R$ / shares

R$ 11.01

Estimated volatility of share price

40.59%

Expected dividend

1.10%

Risk-free return rate

12.46%

Average remaining maturity (in years)

0 years

Stock option plan | July 1, 2015

Disclosure of terms and conditions of share-based payment arrangement [line items]

Total options granted

627,810

Total outstanding options

231,638

231,638

Share exercise price | R$ / shares

R$ 14.51

Fair value of option on the date of grant | R$ / shares

R$ 10.82

Estimated volatility of share price

40.59%

Expected dividend

1.10%

Risk-free return rate

15.69%

Average remaining maturity (in years)

0 years

Stock option plan | January 7, 2016

Disclosure of terms and conditions of share-based payment arrangement [line items]

Total options granted

820,250

Total outstanding options

385,980

385,980

Share exercise price | R$ / shares

R$ 14.50

Fair value of option on the date of grant | R$ / shares

R$ 10.14

Estimated volatility of share price

43.07%

Expected dividend

1.10%

Risk-free return rate

12.21%

Average remaining maturity (in years)

0 years

Stock option plan | July 6, 2017

Disclosure of terms and conditions of share-based payment arrangement [line items]

Total options granted

680,467

Total outstanding options

490,355

490,355

Share exercise price | R$ / shares

R$ 22.57

Fair value of option on the date of grant | R$ / shares

R$ 12.82

Estimated volatility of share price

43.35%

Expected dividend

1.10%

Risk-free return rate

10.26%

Average remaining maturity (in years)

6 months

Stock option plan | March 14, 2017

Disclosure of terms and conditions of share-based payment arrangement [line items]

Total options granted

9,343,510

Total outstanding options

3,824,610

3,824,610

Share exercise price | R$ / shares

R$ 11.85

Fair value of option on the date of grant | R$ / shares

R$ 4.82

Estimated volatility of share price

50.64%

Expected dividend

1.10%

Risk-free return rate

11.32%

Average remaining maturity (in years)

1 year 2 months 12 days

Stock option plan | Bottom of range

Disclosure of terms and conditions of share-based payment arrangement [line items]

Vesting period (in years)

4 years

Vesting percentage

20.00%

Stock option plan | Top of range

Disclosure of terms and conditions of share-based payment arrangement [line items]

Vesting period (in years)

5 years

Vesting percentage

25.00%

Stock option plan | Weighted rate

Disclosure of terms and conditions of share-based payment arrangement [line items]

Maximum life of the option

8 years

Share-based Option Plan - Sum_2

Share-based Option Plan - Summary of Changes in Stock Options (Detail) - Stock option plan R$ / shares in Units, R$ in Thousands	12 Months Ended
	Dec. 31, 2020BRL (R$)shareR$ / shares	Dec. 31, 2019BRL (R$)shareR$ / shares	Dec. 31, 2018BRL (R$)share
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options, Beginning balance	8,184,768	11,190,829
Number of options, cancelled		(69,085)
Number of options exercised	(2,076,558)	(2,936,976)
Number of options, Ending balance	6,108,210	8,184,768	11,190,829
Weighted average of exercise price, Beginning balance | R$ / shares	R$ 12.85
Weighted average of exercise price, Exercised | R$ / shares	11.45
Weighted average of exercise price, Ending balance | R$ / shares	R$ 16.91	R$ 12.85
Number of exercisable options at:
Number of exercisable options, number of shares	2,158,658	2,294,135
Number of exercisable options, weighted average exercise price | R$ / shares	R$ 15.12	R$ 13.81
Recognized compensation expense | R$	R$ 9489	R$ 12742	R$ 16677

Share-based Option Plan - Sum_3

Share-based Option Plan - Summary of Restricted stock option plan (Detail) - Restricted stock options plan R$ / shares in Units, R$ in Thousands	Jun. 19, 2020shareR$ / shares	Aug. 05, 2019shareR$ / shares	Aug. 07, 2018shareR$ / shares	Jul. 06, 2017shareR$ / shares	Jul. 01, 2016shareR$ / shares	Jul. 01, 2015shareR$ / shares	Jun. 30, 2014shareR$ / shares	Dec. 31, 2020BRL (R$)share	Dec. 31, 2019BRL (R$)share	Dec. 31, 2018BRL (R$)share	Dec. 31, 2020share
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period (in years)								4 years
Vesting percentage								25.00%
Total not exercised								1,653,005	589,394	729,593	1,653,005
changes in value of options [abstract]
Balance at the beginning of the period								589,394	729,593
Granted								1,382,582	170,000		3,278,395
Cancelled								(74,024)	(49,748)
Delivered								(244,947)	(260,451)
Balance at the end of the period								1,653,005	589,394	729,593	1,653,005
Recognized compensation expense | R$								R$ 13421	R$ 6152	R$ 6254
June 30, 2014
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of option on the date of grant | R$ / shares							R$ 21.00
Total not exercised								3,967			3,967
changes in value of options [abstract]
Granted							487,670
Balance at the end of the period								3,967			3,967
July 1, 2015
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of option on the date of grant | R$ / shares						R$ 21.00
Total not exercised								4,047			4,047
changes in value of options [abstract]
Granted						294,286
Balance at the end of the period								4,047			4,047
July 1, 2016
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of option on the date of grant | R$ / shares					R$ 21.00
Total not exercised								7,722			7,722
changes in value of options [abstract]
Granted					367,184
Balance at the end of the period								7,722			7,722
July 6, 2017
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of option on the date of grant | R$ / shares				R$ 24.17
Total not exercised								59,080			59,080
changes in value of options [abstract]
Granted				285,064
Balance at the end of the period								59,080			59,080
August 7, 2018
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of option on the date of grant | R$ / shares			R$ 24.43
Total not exercised								129,860			129,860
changes in value of options [abstract]
Granted			291,609
Balance at the end of the period								129,860			129,860
August 5, 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of option on the date of grant | R$ / shares		R$ 51.65
Total not exercised								115,774			115,774
changes in value of options [abstract]
Granted		170,000
Balance at the end of the period								115,774			115,774
June 19, 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of option on the date of grant | R$ / shares	R$ 21.80
Total not exercised								1,332,555			1,332,555
changes in value of options [abstract]
Granted	1,382,582
Balance at the end of the period								1,332,555			1,332,555

Share-based Option Plan - Sumar

Share-based Option Plan - Sumary of stock prurchase plan - phantom (Detail) - Stock purchase plan R$ / shares in Units, R$ in Thousands	Apr. 30, 2020shareR$ / shares	Aug. 05, 2019shareR$ / shares	Aug. 07, 2018shareR$ / shares	Dec. 31, 2020BRL (R$)sharesession	Dec. 31, 2019BRL (R$)share	Dec. 31, 2018BRL (R$)share	Dec. 31, 2020share	Dec. 31, 2020BRL (R$)shareR$ / shares	Dec. 31, 2019BRL (R$)share
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of trading sessions | session				30
Total outstanding				965,908	965,908	707,400	4,857,041	4,857,041	965,908
changes in value of options [abstract]
Balance at the beginning of the period				965,908	707,400
Granted				4,793,582	405,000		5,962,400
Cancelled				(898,881)	(47,889)
Settled				(3,568)	(98,603)
Balance at the end of the period				4,857,041	965,908	707,400	4,857,041
Recognized compensation expense | R$				R$ 28842	R$ 13373	R$ 1184
Share-based compensation liability | R$								R$ 62351	R$ 11647
August 7, 2018
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total outstanding				89,674			89,674	89,674
Exercise price | R$ / shares			R$ 10.35
Price at the date of grant | R$ / shares			17.40
Current share price | R$ / shares								R$ 39.30
Stock price | R$ / shares			R$ 11.98
Estimated volatility of share price			53.22%
Risk-free return rate			3.02%
Average remaining maturity (in years)			2 years 3 months 29 days
changes in value of options [abstract]
Granted			707,400
Balance at the end of the period				89,674			89,674
August 5, 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total outstanding				14,201			14,201	14,201
Exercise price | R$ / shares		R$ 10.35
Price at the date of grant | R$ / shares		17.40
Current share price | R$ / shares								R$ 39.30
Stock price | R$ / shares		R$ 11.98
Estimated volatility of share price		53.22%
Risk-free return rate		3.02%
Average remaining maturity (in years)		2 years 3 months 29 days
changes in value of options [abstract]
Granted		405,000
Balance at the end of the period				14,201			14,201
April 30, 2020 first award
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total outstanding				3,167,765			3,167,765	3,167,765
Exercise price | R$ / shares	R$ 10.35
Price at the date of grant | R$ / shares	17.40
Current share price | R$ / shares								R$ 39.30
Stock price | R$ / shares	R$ 11.98
Estimated volatility of share price	53.22%
Risk-free return rate	3.02%
Average remaining maturity (in years)	2 years 3 months 29 days
changes in value of options [abstract]
Granted	3,250,000
Balance at the end of the period				3,167,765			3,167,765
April 30, 2020 second award
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total outstanding				1,585,401			1,585,401	1,585,401
Exercise price | R$ / shares	R$ 10.35
Price at the date of grant | R$ / shares	17.40
Current share price | R$ / shares								R$ 39.30
Stock price | R$ / shares	R$ 11.63
Estimated volatility of share price	53.22%
Risk-free return rate	3.02%
Average remaining maturity (in years)	3 years 3 months 29 days
changes in value of options [abstract]
Granted	1,600,000
Balance at the end of the period				1,585,401			1,585,401
Bottom of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period (in years)				3 years
Maximum life of the option				6 years
Top of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period (in years)				4 years
Maximum life of the option				8 years

Sales Revenue (Detail)

Sales Revenue (Detail) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of disaggregation of revenue from contracts with customers [line items]
Passenger revenue	R$ 5996494	R$ 11802882	R$ 9460685
Taxes levied	(252,368)	(360,565)	(403,621)
Net revenue	5,744,126	11,442,317	9,057,064
Domestic revenue
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenue	4,759,257	9,195,535	7,383,183
Foreign revenue
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenue	984,869	2,246,782	1,673,881
Passenger service
Disclosure of disaggregation of revenue from contracts with customers [line items]
Passenger revenue	4,688,295	10,382,240	8,431,966
Loyalty program revenue
Disclosure of disaggregation of revenue from contracts with customers [line items]
Passenger revenue	508,976	818,572	597,994
Cargo service
Disclosure of disaggregation of revenue from contracts with customers [line items]
Passenger revenue	764,108	552,084	373,417
Other revenue
Disclosure of disaggregation of revenue from contracts with customers [line items]
Passenger revenue	R$ 35115	R$ 49986	R$ 57308

Financial Result (Detail)

Financial Result (Detail) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial income
interest on short-term investments	R$ 23187	R$ 12462	R$ 31947
Sublease receivable	28,714	29,695	33,129
Other	8,397	29,914	9,446
Total financial income	60,298	72,071	74,522
Financial expenses
Interest on loans	(270,057)	(195,688)	(164,294)
Interest on lease	(1,438,825)	(732,723)	(606,076)
Interest on finance lease	(130,326)	(73,284)	(75,313)
Interest on factoring credit card receivables	(25,715)	(13,477)	(10,625)
Interest on provision for return of aircraft	(283,797)	(88,015)	(56,827)
Interest and fines on other operations	(225,082)	(129,954)	(79,822)
Share conversion right	(755,354)	0	0
Guarantee commission	(38,484)	(30,977)	(26,187)
Borrowing cost	(44,671)	(12,549)	(23,169)
Other	(57,630)	(52,857)	(52,515)
Total financial expenses	(3,269,941)	(1,329,524)	(1,094,828)
Derivative financial instruments, net	(1,452,116)	325,452	298,094
Foreign currency exchange, net	(4,302,540)	(391,905)	(1,306,063)
Financial result, net	R$ 8964299	R$ 1323906	R$ 2028275

Financial Instruments and ris_3

Financial Instruments and risk management - Accounting classification and fair value hierarchy of financial instruments (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [line items]
Assets	R$ 15794457	R$ 19197490
Accounts payable
Disclosure of detailed information about financial instruments [line items]
Liabilities	(2,561,727)	(1,376,850)
Accounts payable | Fair value
Disclosure of detailed information about financial instruments [line items]
Liabilities	(2,561,727)	(1,376,850)
Accounts payable – Supplier finance
Disclosure of detailed information about financial instruments [line items]
Liabilities	(157,801)	(249,727)
Accounts payable – Supplier finance | Fair value
Disclosure of detailed information about financial instruments [line items]
Liabilities	(157,801)	(249,727)
Reimbursement to customers
Disclosure of detailed information about financial instruments [line items]
Liabilities	(221,342)	(4,032)
Reimbursement to customers | Fair value
Disclosure of detailed information about financial instruments [line items]
Liabilities	(221,342)	(4,032)
Loans and financing
Disclosure of detailed information about financial instruments [line items]
Liabilities	(5,894,515)	(3,518,156)
Loans and financing | Fair value
Disclosure of detailed information about financial instruments [line items]
Liabilities	(5,414,689)	(3,504,754)
Loans and financing – Conversion´s right | Level 2
Disclosure of detailed information about financial instruments [line items]
Liabilities	(1,465,999)	0
Loans and financing – Conversion´s right | Fair value | Level 2
Disclosure of detailed information about financial instruments [line items]
Liabilities	(1,465,999)	0
Lease liabilities
Disclosure of detailed information about financial instruments [line items]
Liabilities	(12,520,812)	(12,106,621)
Lease liabilities | Fair value
Disclosure of detailed information about financial instruments [line items]
Liabilities	(12,520,812)	(12,106,621)
Derivative financial instruments | Level 2
Disclosure of detailed information about financial instruments [line items]
Liabilities	(421,034)	(310,190)
Derivative financial instruments | Fair value | Level 2
Disclosure of detailed information about financial instruments [line items]
Liabilities	(421,034)	(310,190)
Cash and cash equivalents | Level 2
Disclosure of detailed information about financial instruments [line items]
Assets	3,064,815	1,647,880
Cash and cash equivalents | Fair value | Level 2
Disclosure of detailed information about financial instruments [line items]
Assets	3,064,815	1,647,880
Accounts receivable
Disclosure of detailed information about financial instruments [line items]
Assets	875,382	1,165,866
Accounts receivable | Fair value
Disclosure of detailed information about financial instruments [line items]
Assets	875,382	1,165,866
Aircraft sublease receivables
Disclosure of detailed information about financial instruments [line items]
Assets	312,937	279,504
Aircraft sublease receivables | Fair value
Disclosure of detailed information about financial instruments [line items]
Assets	312,937	279,504
Short-term investments | Level 2
Disclosure of detailed information about financial instruments [line items]
Assets	946,281	1,459,708
Short-term investments | Fair value | Level 2
Disclosure of detailed information about financial instruments [line items]
Assets	946,281	1,459,708
Derivative financial instruments | Level 2
Disclosure of detailed information about financial instruments [line items]
Assets	428,309	825,924
Derivative financial instruments | Fair value | Level 2
Disclosure of detailed information about financial instruments [line items]
Assets	R$ 428309	R$ 825924

Financial instruments and ris_4

Financial instruments and risk management - TAP Bonds (Details) € in Thousands, R$ in Thousands	Mar. 14, 2016EUR (€)	Sep. 20, 2016	Dec. 31, 2020BRL (R$)	Dec. 31, 2019BRL (R$)
Disclosure of detailed information about financial instruments [line items]
Long-term investments			R$ 854462	R$ 1397699
TAP Bond
Disclosure of detailed information about financial instruments [line items]
Acquisition of TAP Bonds | €	€ 90,000
Maturity term of convertible bonds	10 years
Interest rate on convertible bonds		3.75%	7.50%
Loss on fair value of conversion right – TAP Bond			R$ 637639
Long-term investments			R$ 854462	R$ 1236828

Financial instruments and ris_5

Financial instruments and risk management - Market risk (Details) € in Thousands, R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020BRL (R$)	Dec. 31, 2019BRL (R$)	Dec. 31, 2018BRL (R$)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)
Disclosure of nature and extent of risks arising from financial instruments [line items]
Gains (losses) recognized in result	R$ 1452116	R$ 325452	R$ 298094
Assets	15,794,457	19,197,490
Accounts payable
Disclosure of nature and extent of risks arising from financial instruments [line items]
Liabilities	(2,561,727)	(1,376,850)
Lease liabilities
Disclosure of nature and extent of risks arising from financial instruments [line items]
Liabilities	(12,520,812)	(12,106,621)
Aircraft sublease receivables
Disclosure of nature and extent of risks arising from financial instruments [line items]
Assets	312,937	279,504
Changes in interest rates
Disclosure of nature and extent of risks arising from financial instruments [line items]
Gains (losses) recognized in result	30,949	142,220	217,422
Changes in QAV prices
Disclosure of nature and extent of risks arising from financial instruments [line items]
Gains (losses) recognized in result	(1,371,941)	115,189	(110,549)
Changes in QAV prices | Derivative financial instruments
Disclosure of nature and extent of risks arising from financial instruments [line items]
Liabilities	(81,274)
Exchange rate differences
Disclosure of nature and extent of risks arising from financial instruments [line items]
Gains (losses) recognized in result	(74,371)	68,043	R$ 191222
Exchange rate differences | Exposure to US$
Disclosure of nature and extent of risks arising from financial instruments [line items]
Assets	2,564,923	2,709,216
Liabilities	(20,068,730)	(15,771,051)
Net exposure	(17,503,807)	(13,061,835)		$ (3,368,254)		$ (3,240,587)
Exchange rate differences | Exposure to US$ | Accounts payable
Disclosure of nature and extent of risks arising from financial instruments [line items]
Liabilities	(831,429)	(424,411)
Exchange rate differences | Exposure to US$ | Loans and financing
Disclosure of nature and extent of risks arising from financial instruments [line items]
Liabilities	(5,741,253)	(2,624,114)
Exchange rate differences | Exposure to US$ | Lease liabilities
Disclosure of nature and extent of risks arising from financial instruments [line items]
Liabilities	(12,463,426)	(12,034,392)
Exchange rate differences | Exposure to US$ | Derivative financial instruments
Disclosure of nature and extent of risks arising from financial instruments [line items]
Liabilities	(81,274)	0
Exchange rate differences | Exposure to US$ | Other Liabilities
Disclosure of nature and extent of risks arising from financial instruments [line items]
Liabilities	(951,348)	(688,134)
Exchange rate differences | Exposure to US$ | Cash cash equivalents and short term investments
Disclosure of nature and extent of risks arising from financial instruments [line items]
Assets	262,309	289,297
Exchange rate differences | Exposure to US$ | Security deposits and maintenance reserves
Disclosure of nature and extent of risks arising from financial instruments [line items]
Assets	1,540,231	1,613,221
Exchange rate differences | Exposure to US$ | Aircraft sublease receivables
Disclosure of nature and extent of risks arising from financial instruments [line items]
Assets	312,937	279,504
Exchange rate differences | Exposure to US$ | Long term investments
Disclosure of nature and extent of risks arising from financial instruments [line items]
Assets	0	160,871
Exchange rate differences | Exposure to US$ | Derivative rights
Disclosure of nature and extent of risks arising from financial instruments [line items]
Assets	155,920	121,968
Exchange rate differences | Exposure to US$ | Provision for impairment of other assets
Disclosure of nature and extent of risks arising from financial instruments [line items]
Assets	293,526	244,355
Exchange rate differences | Exposure to €
Disclosure of nature and extent of risks arising from financial instruments [line items]
Assets	854,462	1,236,828
Liabilities	0	0
Net exposure	854,462	1,236,828			€ 133,972		€ 273,000
Exchange rate differences | Exposure to € | Long term investments
Disclosure of nature and extent of risks arising from financial instruments [line items]
Assets	R$ 854462	R$ 1236828

Financial instruments and ris_6

Financial instruments and risk management - Liquidity risk (Details) - Liquidity risk R$ in Thousands	Dec. 31, 2020BRL (R$)
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying amount	R$ 23243230
Financial liabilities, undiscounted cash flows	37,970,147
Year two
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial liabilities, undiscounted cash flows	6,164,684
Year three
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial liabilities, undiscounted cash flows	4,201,584
Year four
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial liabilities, undiscounted cash flows	4,727,334
Year five
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial liabilities, undiscounted cash flows	6,038,147
After year five
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial liabilities, undiscounted cash flows	16,838,398
Accounts payable
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying amount	2,561,727
Non-derivative financial liabilities, undiscounted cash flows	2,561,727
Accounts payable | Year two
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	2,238,668
Accounts payable | Year three
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	156,889
Accounts payable | Year four
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	83,670
Accounts payable | Year five
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	41,168
Accounts payable | After year five
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	41,332
Accounts payable – Supplier finance
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying amount	157,801
Non-derivative financial liabilities, undiscounted cash flows	157,801
Accounts payable – Supplier finance | Year two
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	157,801
Accounts payable – Supplier finance | Year three
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	0
Accounts payable – Supplier finance | Year four
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	0
Accounts payable – Supplier finance | Year five
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	0
Accounts payable – Supplier finance | After year five
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	0
Loans and financing
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying amount	7,360,514
Non-derivative financial liabilities, undiscounted cash flows	7,439,673
Loans and financing | Year two
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	874,925
Loans and financing | Year three
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	767,353
Loans and financing | Year four
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	935,286
Loans and financing | Year five
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	2,276,106
Loans and financing | After year five
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	2,586,003
Lease liabilities
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying amount	12,520,812
Non-derivative financial liabilities, undiscounted cash flows	27,168,570
Lease liabilities | Year two
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	2,498,180
Lease liabilities | Year three
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	3,206,765
Lease liabilities | Year four
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	3,641,808
Lease liabilities | Year five
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	3,610,754
Lease liabilities | After year five
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	14,211,063
Derivative financial instruments
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying amount	421,034
Derivative financial liabilities, undiscounted cash flows	421,034
Derivative financial instruments | Year two
Disclosure of nature and extent of risks arising from financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	173,768
Derivative financial instruments | Year three
Disclosure of nature and extent of risks arising from financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	70,577
Derivative financial instruments | Year four
Disclosure of nature and extent of risks arising from financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	66,570
Derivative financial instruments | Year five
Disclosure of nature and extent of risks arising from financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	110,119
Derivative financial instruments | After year five
Disclosure of nature and extent of risks arising from financial instruments [line items]
Derivative financial liabilities, undiscounted cash flows	0
Reimbursement to customers
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying amount	221,342
Non-derivative financial liabilities, undiscounted cash flows	221,342
Reimbursement to customers | Year two
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	221,342
Reimbursement to customers | Year three
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	0
Reimbursement to customers | Year four
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	0
Reimbursement to customers | Year five
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	0
Reimbursement to customers | After year five
Disclosure of nature and extent of risks arising from financial instruments [line items]
Non-derivative financial liabilities, undiscounted cash flows	R$ 0

Financial instruments and ris_7

Financial instruments and risk management - Sensitivity analysis of financial instruments (Details) € in Thousands, R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020BRL (R$)brazilianReal$ / gal	Dec. 31, 2020USD ($)brazilianReal$ / gal	Dec. 31, 2020EUR (€)brazilianReal$ / gal	Dec. 31, 2019BRL (R$)brazilianReal	Dec. 31, 2019USD ($)brazilianReal	Dec. 31, 2019EUR (€)brazilianReal	Dec. 31, 2018brazilianReal
Disclosure of nature and extent of risks arising from financial instruments [line items]
Final rate | brazilianReal	5.1967	5.1967	5.1967	4.0307	4.0307	4.0307
Exposure to US$
Disclosure of nature and extent of risks arising from financial instruments [line items]
Final rate | brazilianReal	5.1967	5.1967	5.1967	4.0307	4.0307	4.0307	3.8748
Exposure to €
Disclosure of nature and extent of risks arising from financial instruments [line items]
Final rate | brazilianReal	6.3779	6.3779	6.3779	4.5305	4.5305	4.5305	4.4390
Exchange rate differences | Exposure to US$
Disclosure of nature and extent of risks arising from financial instruments [line items]
Final rate | brazilianReal	5.1967	5.1967	5.1967
Net exposure, exchange rate differences	R$ 17503807	$ (3,368,254)		R$ 13061835	$ (3,240,587)
Net exposure to HOA - changes in QAV prices	20,068,730			15,771,051
Exchange rate differences | Exposure to US$ | Derivative financial instruments
Disclosure of nature and extent of risks arising from financial instruments [line items]
Net exposure to HOA - changes in QAV prices	R$ 81274			0
Exchange rate differences | Exposure to US$ | Devaluation by 50%
Disclosure of nature and extent of risks arising from financial instruments [line items]
Final rate | brazilianReal	2.5984	2.5984	2.5984
Effect on exchange rates variation	R$ 8751904
Exchange rate differences | Exposure to US$ | Devaluation by 25%
Disclosure of nature and extent of risks arising from financial instruments [line items]
Final rate | brazilianReal	3.8975	3.8975	3.8975
Effect on exchange rates variation	R$ 4375952
Exchange rate differences | Exposure to US$ | Appreciation by 50%
Disclosure of nature and extent of risks arising from financial instruments [line items]
Final rate | brazilianReal	7.7951	7.7951	7.7951
Effect on exchange rates variation	R$ 8751904
Exchange rate differences | Exposure to US$ | Appreciation by 25%
Disclosure of nature and extent of risks arising from financial instruments [line items]
Final rate | brazilianReal	6.4959	6.4959	6.4959
Effect on exchange rates variation	R$ 4375952
Exchange rate differences | Exposure to €
Disclosure of nature and extent of risks arising from financial instruments [line items]
Final rate | brazilianReal	6.3779	6.3779	6.3779
Net exposure, exchange rate differences	R$ 854462		€ 133,972	1,236,828		€ 273,000
Net exposure to HOA - changes in QAV prices	R$ 0			R$ 0
Exchange rate differences | Exposure to € | Devaluation by 50%
Disclosure of nature and extent of risks arising from financial instruments [line items]
Final rate | brazilianReal	3.1890	3.1890	3.1890
Effect on exchange rates variation	R$ 427231
Exchange rate differences | Exposure to € | Devaluation by 25%
Disclosure of nature and extent of risks arising from financial instruments [line items]
Final rate | brazilianReal	4.7834	4.7834	4.7834
Effect on exchange rates variation	R$ 213616
Exchange rate differences | Exposure to € | Appreciation by 50%
Disclosure of nature and extent of risks arising from financial instruments [line items]
Final rate | brazilianReal	9.5669	9.5669	9.5669
Effect on exchange rates variation	R$ 427231
Exchange rate differences | Exposure to € | Appreciation by 25%
Disclosure of nature and extent of risks arising from financial instruments [line items]
Final rate | brazilianReal	7.9724	7.9724	7.9724
Effect on exchange rates variation	R$ 213616
Changes in QAV prices | Derivative financial instruments
Disclosure of nature and extent of risks arising from financial instruments [line items]
HOA reference price | $ / gal	150	150	150
Net exposure to HOA - changes in QAV prices	R$ 81274
Changes in QAV prices | Devaluation by 50% | Derivative financial instruments
Disclosure of nature and extent of risks arising from financial instruments [line items]
HOA reference price | $ / gal	75	75	75
Effect on commodity prices variation	R$ 98454
Changes in QAV prices | Devaluation by 25% | Derivative financial instruments
Disclosure of nature and extent of risks arising from financial instruments [line items]
HOA reference price | $ / gal	112	112	112
Effect on commodity prices variation	R$ 45667
Changes in QAV prices | Appreciation by 50% | Derivative financial instruments
Disclosure of nature and extent of risks arising from financial instruments [line items]
HOA reference price | $ / gal	225	225	225
Effect on commodity prices variation	R$ 98454
Changes in QAV prices | Appreciation by 25% | Derivative financial instruments
Disclosure of nature and extent of risks arising from financial instruments [line items]
HOA reference price | $ / gal	187	187	187
Effect on commodity prices variation	R$ 45667
Changes in interest rates | Local interbank deposit certificates rate - CDI
Disclosure of nature and extent of risks arising from financial instruments [line items]
Rate p.a.	2.80%	2.80%	2.80%
Net exposure, changes in interest rate	R$ 1113627
Changes in interest rates | LIBOR
Disclosure of nature and extent of risks arising from financial instruments [line items]
Net exposure, changes in interest rate	R$ 650740
Changes in interest rates | LIBOR | Weighted rate
Disclosure of nature and extent of risks arising from financial instruments [line items]
Rate p.a.	2.70%	2.70%	2.70%
Changes in interest rates | Devaluation by 50% | Local interbank deposit certificates rate - CDI
Disclosure of nature and extent of risks arising from financial instruments [line items]
Rate p.a.	1.40%	1.40%	1.40%
Effect on interest rates variation	R$ 53593
Changes in interest rates | Devaluation by 50% | LIBOR
Disclosure of nature and extent of risks arising from financial instruments [line items]
Effect on interest rates variation	R$ 30695
Changes in interest rates | Devaluation by 50% | LIBOR | Weighted rate
Disclosure of nature and extent of risks arising from financial instruments [line items]
Rate p.a.	1.30%	1.30%	1.30%
Changes in interest rates | Devaluation by 25% | Local interbank deposit certificates rate - CDI
Disclosure of nature and extent of risks arising from financial instruments [line items]
Rate p.a.	2.10%	2.10%	2.10%
Effect on interest rates variation	R$ 45937
Changes in interest rates | Devaluation by 25% | LIBOR
Disclosure of nature and extent of risks arising from financial instruments [line items]
Effect on interest rates variation	R$ 26310
Changes in interest rates | Devaluation by 25% | LIBOR | Weighted rate
Disclosure of nature and extent of risks arising from financial instruments [line items]
Rate p.a.	2.00%	2.00%	2.00%
Changes in interest rates | Appreciation by 50% | Local interbank deposit certificates rate - CDI
Disclosure of nature and extent of risks arising from financial instruments [line items]
Rate p.a.	4.10%	4.10%	4.10%
Effect on interest rates variation	R$ 53593
Changes in interest rates | Appreciation by 50% | LIBOR
Disclosure of nature and extent of risks arising from financial instruments [line items]
Effect on interest rates variation	R$ 30695
Changes in interest rates | Appreciation by 50% | LIBOR | Weighted rate
Disclosure of nature and extent of risks arising from financial instruments [line items]
Rate p.a.	4.00%	4.00%	4.00%
Changes in interest rates | Appreciation by 25% | Local interbank deposit certificates rate - CDI
Disclosure of nature and extent of risks arising from financial instruments [line items]
Rate p.a.	3.40%	3.40%	3.40%
Effect on interest rates variation	R$ 45937
Changes in interest rates | Appreciation by 25% | LIBOR
Disclosure of nature and extent of risks arising from financial instruments [line items]
Effect on interest rates variation	R$ 26310
Changes in interest rates | Appreciation by 25% | LIBOR | Weighted rate
Disclosure of nature and extent of risks arising from financial instruments [line items]
Rate p.a.	3.40%	3.40%	3.40%

Financial instruments and ris_8

Financial instruments and risk management - Capital management (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [line items]
Net debt	R$ 15557293	R$ 12237685
Loans and financing
Disclosure of detailed information about financial instruments [line items]
Financial liability	(7,360,514)	(3,518,156)
Lease liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liability	(12,520,812)	(12,106,621)
Cash and cash equivalents
Disclosure of detailed information about financial instruments [line items]
Financial assets	3,064,815	1,647,880
Short-term investments
Disclosure of detailed information about financial instruments [line items]
Financial assets	946,281	1,459,708
Aircraft sublease receivables
Disclosure of detailed information about financial instruments [line items]
Financial assets	R$ 312937	R$ 279504

Non-Cash Transactions (Details)

Non-Cash Transactions (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Non-cash transaction [Abstract]
Current trade payables	R$ 157801	R$ 249727
Derivative debt acknowledgment	527,375
Acquisition of property and equipment through financing (IFRS 16)	2,561,504
Decrease in lease liabilities	R$ 5701928

Commitments - Schedule of aircr

Commitments - Schedule of aircraft acquisition (Detail) R$ in Thousands	12 Months Ended
	Dec. 31, 2020BRL (R$)aircraft	Dec. 31, 2019BRL (R$)aircraft
Aircraft
Disclosure of detailed information about property and equipment [line items]
Number of aircraft committed to acquire | aircraft	132,000	147
Financial disbursements calculated at present value	R$ 10173834	R$ 22863852
Aircraft | Year one
Disclosure of detailed information about property and equipment [line items]
Financial disbursements calculated at present value	1,941,843	3,011,655
Aircraft | Year two
Disclosure of detailed information about property and equipment [line items]
Financial disbursements calculated at present value	855,247	3,318,239
Aircraft | Year three
Disclosure of detailed information about property and equipment [line items]
Financial disbursements calculated at present value	565,661	3,628,931
Aircraft | Year four
Disclosure of detailed information about property and equipment [line items]
Financial disbursements calculated at present value	1,533,423	4,122,212
Aircraft | Year five
Disclosure of detailed information about property and equipment [line items]
Financial disbursements calculated at present value	1,351,477	1,925,315
Aircraft | After year five
Disclosure of detailed information about property and equipment [line items]
Financial disbursements calculated at present value	R$ 3926183
Aircraft | Year six
Disclosure of detailed information about property and equipment [line items]
Financial disbursements calculated at present value		1,901,725
Aircraft | After year six
Disclosure of detailed information about property and equipment [line items]
Financial disbursements calculated at present value		R$ 4955775
Aircraft acquired from manufactures
Disclosure of detailed information about property and equipment [line items]
Number of aircraft committed to acquire | aircraft	94	94,000
Aircraft leased from lessors
Disclosure of detailed information about property and equipment [line items]
Number of aircraft committed to acquire | aircraft	38	53,000

Commitments - Letters of credit

Commitments - Letters of credit (Detail) R$ in Thousands, $ in Millions	Dec. 31, 2020USD ($)	Dec. 31, 2020BRL (R$)	Dec. 31, 2019USD ($)	Dec. 31, 2019BRL (R$)
Letters of credit [Abstract]
Letter of credit issuance	$ 522	R$ 2713794	$ 529	R$ 2134186
Bank guarantees amount		R$ 38270		R$ 50432