SEC Form 25-NSE filed by Azul S.A.

5/30/25 3:10:01 PM ET

$AZUL

Air Freight/Delivery Services

Consumer Discretionary

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NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

UNITED STATES

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

001-38049

Issuer:	AZUL SA
Exchange:	NEW YORK STOCK EXCHANGE LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	Edificio Jatoba, 8th floor
	Tambore	06460-040
Telephone number:

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

American Depositary Shares (each representing three preferred shares)

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, NEW YORK STOCK EXCHANGE LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2025-05-30	By	Emily Fuhrman		Senior Analyst, Regulation
Date		Name		Title

¹	Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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Recent Analyst Ratings for

$AZUL

Date	Price Target	Rating	Analyst
5/15/2025		Outperform → Mkt Perform	Raymond James
2/26/2025		Buy → Neutral	Seaport Research Partners
1/16/2025	$5.00	Neutral → Buy	Seaport Research Partners
10/10/2024		Buy → Neutral	Seaport Research Partners
9/23/2024		Buy → Neutral	Goldman
9/5/2024		Buy → Hold	HSBC Securities
7/10/2024		Overweight → Neutral	JP Morgan
4/18/2024	$18.00 → $9.50	Neutral → Underperform	BofA Securities

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SEC Form 25-NSE filed by Azul S.A.

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