# EDGAR Filing Document

**Accession Number:** 0001432364
**File Stem:** 0001999371-26-007729
**Filing Date:** 2026-4
**Character Count:** 13537
**Document Hash:** 0239bc38057d840502c7b451aef6dc7d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001999371-26-007729.hdr.sgml**: 20260406

**ACCESSION NUMBER**: 0001999371-26-007729

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260406

**DATE AS OF CHANGE**: 20260406

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AZUL SA
- **CENTRAL INDEX KEY:** 0001432364
- **STANDARD INDUSTRIAL CLASSIFICATION:** AIR TRANSPORTATION, SCHEDULED [4512]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** D5
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-90373
- **FILM NUMBER:** 26842260

**BUSINESS ADDRESS:**
- **STREET 1:** AV. MARCOS PENTEADO ULHOA RODRIGUES
- **STREET 2:** NO. 939, 9 FLOOR, ED. JATOBA
- **CITY:** BARUERI
- **STATE:** D5
- **ZIP:** 06460-040
- **BUSINESS PHONE:** 55 11 4831 2880

**MAIL ADDRESS:**
- **STREET 1:** AV. MARCOS PENTEADO ULHOA RODRIGUES
- **STREET 2:** NO. 939, 9 FLOOR, ED. JATOBA
- **CITY:** BARUERI
- **STATE:** D5
- **ZIP:** 06460-040

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SALEB II PARTICIPACOES SA
- **DATE OF NAME CHANGE:** 20080415
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Wagner Thomas
- **CENTRAL INDEX KEY:** 0001512348

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**MAIL ADDRESS:**
- **STREET 1:** 320 PARK AVENUE
- **STREET 2:** 28TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

## Ex-99.Cert

**Exhibit 99.1**

JOINT FILING AGREEMENT

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13G (including any and all amendments thereto) with respect to the American Depository Shares and/or Common Shares, of Azul S.A., a company organized under the laws of the Federative Republic of Brazil, and further agree that this Joint Filing Agreement shall be included as an Exhibit to such joint filings.

The undersigned further agree that each party hereto is responsible for the timely filing of such Statement on Schedule 13G and any amendments thereto, and for the accuracy and completeness of the information concerning such party contained therein; provided, however, that no party is responsible for the accuracy or completeness of the information concerning any other party, unless such party knows or has reason to believe that such information is inaccurate.

This Joint Filing Agreement may be signed in counterparts with the same effect as if the signature on each counterpart were upon the same instrument.

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of April 6, 2026.

---

| | |
|:---|:---|
| Thomas A. Wagner III | Thomas A. Wagner III |
| By: | /s/ Thomas A. Wagner III |
| Title: Managing Partner | Title: Managing Partner |
| Date: 4/6/2026 | Date: 4/6/2026 |
| Ara D. Cohen | Ara D. Cohen |
| By: | /s/ Ara D. Cohen |
| <br> Title: Managing Partner | <br> Title: Managing Partner |
| Date: 4/6/2026 | Date: 4/6/2026 |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** AZUL SA

**Title of Class of Securities:** Common Shares without par value; the CUSIP relates to American Depository Shares, each representing five hundred thousand Common Shares.

**CUSIP Number:** —

**Date of Event Which Requires Filing of this Statement:** 02/20/2026

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [x] Rule 13d-1(b)

- [ ] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Thomas A. Wagner III | Names of Reporting Persons<br>Thomas A. Wagner III |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>4063104500000.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>4063104500000.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>4063104500000.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>4063104500000.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>7.4% | Percent of Class Represented by Amount in Row (9)<br>7.4% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

**Comment for Type of Reporting Person:** CUSIP number 05501U403 reported on the cover page above and in Item 2(e) below applies to the unrestricted class of the Issuer's (as defined below) American Depository Shares ("ADSs"). The Reporting Persons (as defined below) also beneficially own the Issuer's restricted ADSs, CUSIP number 05501U601. The ADSs are managed by Knighthead Capital Management, LLC ("KCM") and Knighthead Opportunities Capital Management, LLC ("KOCM" and, together with KCM, the "Advisers"), of which the Reporting Persons are managing partners, each entity individually beneficially owning less than 5% of the Issuer shares.

---

| 1. | Names of Reporting Persons<br>Ara D. Cohen | Names of Reporting Persons<br>Ara D. Cohen |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>4063104500000.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>4063104500000.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>4063104500000.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>4063104500000.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>7.4% | Percent of Class Represented by Amount in Row (9)<br>7.4% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

**Comment for Type of Reporting Person:** CUSIP number 05501U403 reported on the cover page above and in Item 2(e) below applies to the unrestricted class of the Issuer's (as defined below) American Depository Shares ("ADSs"). The Reporting Persons (as defined below) also beneficially own the Issuer's restricted ADSs, CUSIP number 05501U601. The ADSs are managed by the Advisers, of which the Reporting Persons are managing partners, each individually beneficially owning less than 5% of the Issuer shares.

---

**Item 1(a). Name of Issuer:**
AZUL SA

**Item 1(b). Address of Issuer's Principal Executive Offices:**
Avenida Marcos Penteado de Ulhoa Rodrigues, 939, 8th floor Edificio Jatoba, Barueri, Brazil, 06460-040

**Item 2(a). Name of Person Filing:**
This Schedule 13G is being jointly filed by Mr. Wagner and Mr. Cohen (collectively, the "Reporting Persons") with respect to the Shares of the above-named Issuer. Such owned Shares include warrants exercisable for Shares as well as ADSs representing Shares.  The Reporting Persons are the managing partners of the Advisers, and may be deemed to indirectly beneficially own the securities reported.

**Item 2(b). Address of Principal Business Office:**
The address for the Reporting Persons is 320 Park Avenue, Floor 28 New York, NY 10022

**Item 2(c). Citizenship:**
United States

**Item 2(d). Title of Class of Securities:**
Common Shares without par value; the CUSIP relates to American Depository Shares, each representing five hundred thousand Common Shares.

**Item 2(e). CUSIP Number:**
—

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [x] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

8,126,209 ADS, each representing five hundred thousand Common Shares ("Common Shares") of Azul S.A. (the "Issuer") reported as beneficially owned herein are managed by the Advisers, of which the Reporting Persons are managing partners, representing a total of 4,034,449,500,000 Common Shares. In addition to the ADSs, the Reporting Persons were awarded warrants exercisable for 28,655,000,000 Common Shares of the Issuer, which are exercisable within sixty days (the "Warrants"). Therefore, the Reporting Persons may be deemed to exercise shared voting and dispositive power over an aggregate of 4,063,104,500,000 Common Shares.

**(b) Percent of class:**

As of the date hereof, each Reporting Person may be deemed to beneficially own 4,063,104,500,000  Common Shares of the Issuer, representing approximately 7.4% of the Common Shares outstanding.
The above percentage is based on 54,730,851,778,811 Common Shares reported as issued and outstanding as of February 19, 2026 in the Issuer's Form 6-K filed with the Securities and Exchange Commission on February 20, 2026 and giving effect to the Warrants.

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

0.00

**(ii) Shared power to vote or to direct the vote:**

4,063,104,500,000

**(iii) Sole power to dispose or to direct the disposition of:**

0.00

**(iv) Shared power to dispose or to direct the disposition of:**

4,063,104,500,000

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Thomas A. Wagner III**

**Date:** 04/06/2026

**By:** /s/ Thomas A. Wagner III

**Name & Title:** Managing Partner

**Ara D. Cohen**

**Date:** 04/06/2026

**By:** /s/ Ara D. Cohen

**Name & Title:** Managing Partner