Document:

EX-10.11

 Exhibit 10.11 

CONFIDENTIAL TREATMENT REQUESTED – REDACTED COPY Confidential Treatment has been requested for portions of this Exhibit. Confidential portions of this
Exhibit are designated by [*****]. A complete version of this Exhibit has been filed separately with the Securities and Exchange Commission. 

AGREEMENT 

[*****]between 
 Airbus
SAS 
 And 
  

 
 For 

LEASE AND FLIGHT HOUR SERVICES 

AGREEMENT on A320 NEO aircraft 

  

					
	Airbus FHS Agreement — [*****]	 	Page 1 of 118	  	[*****]

 This Agreement is made on by and between 

AIRBUS SAS, a société par actions simplifiée incorporated under the laws of France, registered with the Toulouse Registre du
Commerce under number RCS Toulouse 383 474 814, having its registered office at 1 rond-point Maurice Bellonte 31707 Blagnac Cedex, France, acting for itself and behalf of its Affiliates, 

hereinafter referred to as “AIRBUS”, 
 and 

Azul Linhas Aéreas Brasileiras S.A., a company organized under the laws of Brazil, with its head office at Avenida Marcos Penteado de
Ulhôa Rodrigues, n° 939 Edificio Castelo Branco Office Park, Torre Jatobá Tamboré, Alphaville Industrial Barueri, SP 06460-040 Brazil, 

hereinafter referred to as the “Customer”, 

collectively referred to as the “Parties” or individually as the “Party”. 

WHEREAS subject to the terms and conditions of this Agreement, AIRBUS desires to sell the Services and lease the stock as contemplated in this
Agreement (including according to the conditions for each Service as set out in Appendices) to the Customer and the Customer desires to purchase such Services from AIRBUS based on its facilities, capabilities, expertise and experience. 

Now, therefore, it is agreed as follows: 

  
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redacted and filed separately with the Securities and Exchange Commission. 

  

					
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 CONTENTS 
  

					
	 CLAUSE 1 - PURPOSE OF THE AGREEMENT
	  	 	5	 
	 CLAUSE 2 - DEFINITIONS & INTERPRETATION
	  	 	5	 
	 CLAUSE 3 - IMPLEMENTATION, DURATION, RENEWAL
	  	 	12	 
	 CLAUSE 4 - LEASE AND SERVICES SCOPE AND RESPONSIBILITIES
	  	 	13	 
	 CLAUSE 5 - EXECUTION PROCEDURE FOR SERVICES
	  	 	16	 
	 CLAUSE 6 - TRANSPORTATION AND DELIVERY
	  	 	17	 
	 CLAUSE 7 - TRANSFER OF TITLE AND TRANSFER OF RISK
	  	 	19	 
	 CLAUSE 8 - QUALITY SPECIFICATIONS
	  	 	19	 
	 CLAUSE 9 - WARRANTIES AND LIMITATION OF LIABILITY
	  	 	21	 
	 CLAUSE 10 – DOCUMENTATION
	  	 	23	 
	 CLAUSE 11 - SERVICE AND LEASE FEES AND PAYMENT
	  	 	24	 
	 CLAUSE 12 - SECURITY DEPOSIT
	  	 	29	 
	 CLAUSE 13 - CONDITIONS PRECEDENT
	  	 	31	 
	 CLAUSE 14 - EXCUSABLE DELAYS
	  	 	31	 
	 CLAUSE 15 – INDEMNIFICATION
	  	 	33	 
	 CLAUSE 16 – INSURANCE
	  	 	34	 
	 CLAUSE 17 - INTELLECTUAL PROPERTY RIGHTS
	  	 	36	 
	 CLAUSE 18 - EARLY TERMINATION
	  	 	36	 
	 CLAUSE 19 - GOVERNING LAW AND DISPUTES
	  	 	40	 
	 CLAUSE 20 – MISCELLANEOUS
	  	 	40	 
	 APPENDIX A - LIST OF AIRCRAFT COVERED BY THIS AGREEMENT
	  	 	48	 
	 APPENDIX B—1 – ON SITE STOCK
	  	 	50	 
	 APPENDIX B—2 – STANDARD EXCHANGE POOL ACCESS
	  	 	67	 
	 APPENDIX B—3 – FHS COMPONENTS MAINTENANCE AND ENGINEERING
	  	 	85	 

  
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	 APPENDIX B—4 – FHS MANAGER ON SITE ASSISTANCE
	  	 	89	 
	 APPENDIX C—1 – SERVICE FEES DEFINITION
	  	 	91	 
	 APPENDIX D – SERVICE LEVEL
	  	 	99	 
	 APPENDIX E—1 – WARRANTIES DELEGATION
	  	 	104	 
	 APPENDIX E—2 – ADDITIONAL WORK PURCHASE ORDER
	  	 	105	 
	 APPENDIX E—3 – FORM OF FINANCING PARTY QUIET ENJOYMENT LETTER
	  	 	106	 
	 APPENDIX E—4 – FHS MODIFICATION APPROVAL SHEET FORM
	  	 	107	 
	 APPENDIX F – BUY—BACK
	  	 	108	 
	 APPENDIX G – FHS COMPONENTS WITH EXTENDED WARRANTY NEGOTIATED
	  			
	 BY THE CUSTOMER WITH OEMS
	  	 	117	 

  
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 CLAUSE 1—PURPOSE OF THE AGREEMENT 

The purpose of this Agreement is to set out the terms and conditions according to which AIRBUS shall: (i) provide to the Customer the
Services defined in Clause 4 hereto, and the Customer shall purchase such Services; and (ii) lease stock to the Customer and the Customer shall take the Stock on lease, subject to the terms and conditions set forth on Appendix B-1 and B-2. 

CLAUSE 2—DEFINITIONS & INTERPRETATION 

2.1    Definitions 

In addition to words and terms elsewhere defined in this Agreement and future appendices, Orders, or amendments, the initially capitalized
words and terms used in this Agreement shall have the meaning set out below: 
 “Abnormal Use” designates any usage, maintenance,
storage, handling, operation of any Aircraft, or its sub-assemblies, or its systems, or parts fitted on a FHS Component that does not comply with (a) the approved maintenance and operational data, including but not limited to the AFM, the
AMM/Maintenance Procedure, the CMMV and/or (b) any Airworthiness Directive and/or (c) use beyond the use for which they have been designed. 

“Additional Services” means any service that is not defined in Clause 4.1.1, which may be purchased by the Customer and that shall
be formalised under an amendment to this Agreement. 
 “Additional Work” means any work over and above the Services defined in
Clause 4.1.1 of the Agreement. 
 “Additional Work Purchase Order” means the purchase order in the form set out in Appendix E-2,
which shall be signed by duly authorised representatives of each Party for any Additional Work. 
 “Affiliate” means with respect
to any person or entity, any other person or entity of the same group of companies. 
 “Agreement” means this document, all the
appendices, annexes and Orders hereto and all documents included by reference, as amended, supplemented or substituted when and as applicable in accordance with the terms of this Agreement. 

“Aircraft” means collectively or individually (as required by the context) the Airbus A320 NEO aircraft covered under the terms and
conditions of this Agreement, designated in Appendix A and any other Airbus aircraft that may be operated by the Customer and that the Parties may agree in the future to be subjected to this Agreement by an amendment to this Agreement. 

  
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 “Aircraft Maintenance Manuals” or “AMM” means customized Airbus manuals in
compliance with the ATA1200 specifications. The purpose of these manuals is to provide all information required for aircraft maintenance, while ensuring personnel and flight safety. 

“Airworthiness Authorities” means each authority which shall from time to time be vested with the control and the supervision of, or
have jurisdiction over, the registration, airworthiness or operation of civil aircraft or other matters relating to civil aviation in the state where the Aircraft is (are) registered. The Customer’s Airworthiness Authorities shall be understood
as the Airworthiness Authorities of Brasil. 
 “Airworthiness Directive” or “AD” means an airworthiness directive issued
by the Airworthiness Authorities to Identity those products, which have been found, to be in an unsafe condition and where the Airworthiness Authorities have prescribed inspections and the conditions and limitations, if any, under which those
products may continue to be operated. 
 “AOC Holder” means the company holding the Air Operator Certificate, authorising such
company to carry out specified commercial air transport operations. The Customer, as the AOC Holder under this Agreement, is liable toward the Customer’s Airworthiness Authority for the airworthiness of the Aircraft, including any FHS
Component. 
 “AOG” or “Aircraft On Ground” means the highest priority designation to process a requirement for a FHS
Component and/or maintenance action. Indicates that an Aircraft is imminent unauthorised to take-off further to technical constraints pursuant to the Aircraft MEL and/or AMM/Maintenance procedure. 

“Approved Aircraft Maintenance Program” or “AAMP” means the program developed for the Aircraft by the Customer and
approved by the Customer’s Airworthiness Authority, which defines the sequence of maintenance tasks to be performed for the continued airworthiness of the Aircraft. 

[*****] 
 “Business
Day” means a day, other than a Saturday and Sunday, on which: 
  

	 	*	where used in relation to AIRBUS or the Customer’s obligations under this Agreement, business of the kind contemplated by this Agreement is carried on in Paris, in Dublin or in the Pool location; or

  

	 	*	where used in relation to a payment obligation under this Agreement, banks are open in New-York and Brazil; or 

  

	 	*	where used in relation to LIBOR determination, banks are open in London. 

  

	 	“Day”	or “Days” means a calendar day unless otherwise stated in this Agreement. 

  
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 “DAP” or “Delivered At Place” has the meaning defined by the Incoterms. 

DAP requires the delivering party to clear the goods for export, obtain as necessary any export licence and bear all risks involved in
bringing the goods to the named place. DAP requires the receiving party to obtain, at its own risk and expenses, any import licence or other official authorisation and carry out all customs formalities for the import of the goods, and the payment of
formalities, customs duties, (V.A.T), taxes and other charges for import in the country of destination. For clarification purposes, it is hereby stated that the importer of record (IOR) is the Customer. 

“Due Date” means collectively the Inventory Fee Due Date set forth in Clause 11.2.1 and Maintenance Fee Due Date set forth in Clause
11.2.2 or for all other services, including Additional Work, under this Agreement. 
 “Entry Into Force” has the meaning set forth
in Clause 3.1. 
 “EXW” or “EX WORKS” has the meaning defined by the Incoterms. 

“FCA” or “Free Carrier” has the meaning defined by the Incoterms. 

For clarification purpose, “Free Carrier” means that the delivering party delivers the goods to the carrier or another person
nominated by the receiving party at delivery point defined by the receiving party at the Main Base nearest international airport. FCA requires the delivering party to clear the goods for export, where applicable. Where applicable, it is up to the
delivering party to obtain, at its own risk and expense, any export licence or other official authorisation and carry out all customs formalities for the export of the goods. 

“FHS Component” designates a LRU listed in Attachment 1 of Appendix B-2. 

“FHS Manager On Site Assistance” has the meaning set forth in Appendix B-4 hereto. 

“FHS Portal” has the meaning set forth in Clause 5.3. 

“Financing Party” designates any persons providing financing partially or fully to the Owner to fund the Owner’s
(i) acquisition of any of the property which is the subject of this Agreement or (ii) interests in the transactions contemplated by this Agreement. 

“Flight Cycle” or “FC” means one Aircraft take-off and subsequent landing for a given flight. 

“Flight Hour” or “FH” means a sixty (60)-minute period flown by the Aircraft between take-off and landing as recorded in
the technical logbook. For measuring purposes, Flight Hours are to be rounded to the nearest hundredth (two (2) decimal places). 

“Gross Negligence” means any act or omission done with intent to cause damage or recklessly and with knowledge that damage would
probably result. 

  
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 “Guaranteed Performance” has the meaning set forth in Appendix D. 

“Incoterms” means the international rules for the interpretation of trade terms published by the International Chamber of Commerce,
2010 edition. 
 “Initial Period” has the meaning set forth in Clause 3.1. 

“Interface Manual” means the manual describing the responsibilities of the Customer and AIRBUS in the delivery of the Services. It
also provides the interfacing processes between the Customer, AIRBUS, OEMs, the AIRBUS’ subcontractors and the Customer’s selected vendors providing separate Services. For the sake of clarity, the Interface Manual does not include each
Party’s specific processes and procedures, which shall remain the exclusive property of each Party. 
 “Inventory Delivery
Date” means the date when AIRBUS delivers subject to Clause 6, any FHS Components from the first or subsequent batches of the OSS in accordance with Clause 11.2.1. 

“Inventory Period” means the duration for which AIRBUS makes available to the Customer the OSS and/or the Pool. The first Inventory
Period will commence on the first Inventory Delivery Date and will end on the last Day of the month within which the Inventory Delivery Date falls. Each subsequent Inventory Period shall commence on the first Day of each subsequent calendar month
and end on the last Day of that same month or on the last Day of the Term as the case may be. 
 “Letter of Credit” or
“LOC” has the meaning set forth in Clause 12.2. 
 “Line Replaceable Unit” or “LRU” designates the equipment
either i) part of the OSS or of the Pool, or ii) installed on the Aircraft when delivered to the Customer, or installed on the Aircraft at a later date or installed on the Aircraft and temporarily removed from the Aircraft, in each case that can be
replaced at line stations, and which part numbers are listed in Attachment 1 to Appendix B-2 hereto. 
 “Liquidated Damages” means
the amounts to be paid by AIRBUS to the Customer by way of liquidated damages pursuant to Clause 3 of Appendix D of this Agreement. 

“London Interbank Offered Rate” or “LIBOR” means for the relevant interest period (or where no interest period is stated,
six months) the rate determined on the basis of the offered rates for deposits in US Dollars, which appear on the Reuters Screen LIBO Page as of 11:00 a.m., London time, on the Day that is two (2) Days (other than a Saturday, Sunday or a Day
that is a legal holiday or a Day on which banking institutions are authorised to close in the City of New York, U.S.A., London, England, or Paris, France) before the first Day of such an interest period. If at least two (2) such offered rates
appear on the Reuters Screen LIBO Page, the rate for that interest period will be the arithmetic mean of such offered rates rounded to the nearest basis point (0.5 rounds to 1). “Reuters Screen LIBO Page” means the display designated as
page “LIBO” on the Reuters Monitor Money Rates Service (or any successor to such page or service). 

  
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 “Main Base” or “MB” means the main base of operations for the Customer’s
Aircraft fleet that is located at the Customer’s warehouse in Viracopos/Campinas International Airport (VCP), Brazil. 

“Maintenance Service Start Date” means the date of September 1st, 2016 as set out in Appendix A for the 1st Aircraft and subject to
conditions of Appendix B-3. 
 “Minimum FH” has the meaning set forth in Appendix C-1. 

“Monthly Fee” means the Service and Lease Fees for all the activities that are charged to the Customer through a fixed fee per
month. 
 “No Fault Found” or “NFF” means any event where a FHS Component designated as an Unserviceable FHS Component
by the Customer is removed from an Aircraft by the Customer and sent to AIRBUS for repair and declared by AIRBUS as a Serviceable FHS Component with a non-confirmed fault. 

“NFF Rate” means the number of FHS Components which are removed from the Aircraft and found to be No Fault Found, expressed as a
percentage of the total number of FHS Components removed from the Aircraft. The NFF Rate measurement excludes NFF occurrences when the Customer is compliant with provisions of Clause 5.2 iv) of Appendix B-2 and if the provided supporting data does
substantiate the removal. 
 “Non-Excusable Delay” has the meaning set forth in Clause 2.5 of Appendix D. 

“OEM Catalogue List Price” or “CLP” means the worldwide annual catalogue price published by the OEM. 

“On Site Stock” or “OSS” designates a stock of FHS Components, under the ownership of AIRBUS or the Owner, delivered by
AIRBUS to the Customer in accordance with Clause 6.2 and under the conditions set out in Appendix B-1 hereto, and stored at the Storage Location at the sole risk and cost of the Customer. Possession of the OSS is granted by AIRBUS to the Customer
under the terms of this Agreement. 
 “OSS Service Start Date” means the date of September 1st, 2016 as set out in Appendix A for
the 1st Aircraft and subject to conditions of Appendix B-1. 
 “Order” means any order for Services issued by the Customer to
AIRBUS under this Agreement. 
 “Other Agreement” has the meaning set forth in Clause 11.3.3. “Owner” has the meaning
set forth in Clause 7.2. 
 “Performance Meeting” has the meaning set forth in Clause 5.2. 

“Pool” means the list of Serviceable FHS Components listed in Attachment 1 to Appendix B-2, under the ownership of AIRBUS or the
Owner and available on a non- 

  
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 exclusive basis to the Customer under the Standard Exchange Service set forth in Appendix B-2.
The Standard of such FHS Component may be revised by AIRBUS during the Term. 
 “Pool Access Service Start Date” means the date of
September 1st, 2016 as set out in Appendix A for the 1st Aircraft and subject to conditions of Appendix B-2. 
 “Security Deposit”
has the meaning set forth in Clause 12.1. 
 “Service” and “Services” have the meaning set forth in Clause 4.1.1.1. 

“Service Fees” has the meaning set forth in Clause 11.1. 

“Service Level” has the meaning set forth in Appendix D. 

“Serviceable FHS Component” means FHS Component certified as airworthy by AIRBUS or its authorised repair stations and compliant
with the provisions of Clause 8.2.2 herein. 
 “Standard Exchange” designates as the case may be: 

 

	 	i)	Any exchange between a FHS Component withdrawn from the On Site Stock by the Customer and an Unserviceable FHS Component to be sent to AIRBUS (as per Appendix B-1), or 

 

	 	ii)	Any exchange between a FHS Component sent by AIRBUS to the Customer, to be fitted on the Aircraft, and an Unserviceable FHS Component to be sent to AIRBUS (as per Appendix B-2). 

“Start Date” designates either: 
  

	 	i)	OSS Service Start Date, or 

  

	 	ii)	Pool Service Start Date, or 

  

	 	iii)	Maintenance Service Start Date, 

 whichever occurs first. 

“Storage Location” designates the facilities at the Main Base under the control of the Customer where the OSS is located. 

“Supplier Support Conditions” has the meaning set forth in Appendix E-1. 

“Tax” means any present or future tax, stamp or other taxes, levies, imposts, duties, charges, fees, deductions or withholding,
imposed, levied, collected, withheld or assessed by any governmental authority or any political subdivision or taxing authority. 

“Term” has the meaning set forth in Clause 3.2. 

  
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 “Unserviceable FHS Component” means any FHS Component found inoperative after
troubleshooting procedures as per Airbus TSM, which consequently requires testing and/or repair/overhaul as per OEM’s current CMMV, or operative FHS Component that requires off wing maintenance as per Airbus current MPD, AD, mandatory SB/VSB
and which anticipated removal has been agreed between the Parties. 
 “V.A.T.” has the meaning set forth in Clause 11.4.1. 

 

	2.2	In this Agreement, unless the context otherwise requires: 

  

	2.2.1	Any reference to this Agreement or any other agreement or document shall be construed as a reference to this Agreement or such other agreement or document as modified, amended, novated, varied or
supplemented from time to time; 

  

	2.2.2	References to Clauses, Appendices and Annexes are to be construed as references to the Clauses of, and Appendices, and Annexes to this Agreement and references to this Agreement include its Schedules, Annexes and
Appendices; 

  

	2.2.3	Words importing the plural shall include the singular and vice versa; and references to a person shall be construed as including, without limitation, references to an individual, firm, company, corporation,
unincorporated body of persons and any state or agency of a state; 

  

	2.2.4	Including shall be construed as a reference to “... including, without limitation,...” or “... including but not limited to...”; 

 

	2.2.5	Clause headings and the Index are inserted for convenience of reference only and shall be ignored in the interpretation of this Agreement. 

 

	2.3	Miscellaneous Terms 

  

							
	 AD
	  	 	:	 	  	 Airworthiness Directive

	 AFM
	  	 	:	 	  	 Aircraft Flight Manual

	 AMM
	  	 	:	 	  	 Aircraft Maintenance Manual

	 AWB
	  	 	:	 	  	 Airway bill of lading

	 CBO
	  	 	:	 	  	 Cycles Between Overhaul

	 CLP
	  	 	:	 	  	 Catalogue List Price

	 CMMV
	  	 	:	 	  	 Component Maintenance Manual Vendor

	 CRO
	  	 	:	 	  	 Cycles Remaining before Overhaul

	 CSN
	  	 	:	 	  	 Cycles Since New

	 CSI
	  	 	:	 	  	 Cycles Since Installation

	 CSO
	  	 	:	 	  	 Cycles Since Overhaul

	 CWO
	  	 	:	 	  	 Customer Work Order

	 DER
	  	 	:	 	  	 Designated Engineering Representative

	 EASA
	  	 	:	 	  	 European Aviation Safety Agency

	 EOR
	  	 	:	 	  	 Exporter of Records

	 ETOPS
	  	 	:	 	  	 Extended range Twin Operations

	 FAA
	  	 	:	 	  	 Federal Aviation Administration

  
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	 FOD
	  	:	  	 Foreign Object Damage

	 IOD
	  	:	  	 Internal Object Damage

	 IOR
	  	:	  	 Importer of Records

	 IPC
	  	:	  	 Illustrated Part Catalogue

	 LDGS
	  	:	  	 Landings

	 LIBOR
	  	:	  	 London Interbank Offered Rate

	 LLP
	  	:	  	 Life Limited Parts means a Part, related to a period of usability

	 (M)MEL
	  	:	  	 (Master) Minimum Equipment List

	 MPD
	  	:	  	 Maintenance Planning Document

	 MSCN
	  	:	  	 Manufacturer Specification Change Notice

	 MSDS
	  	:	  	 Material Safety Data Sheet

	 MSN
	  	:	  	 Manufacturer Serial Number

	 MTBUR
	  	:	  	 Mean Time Between Unscheduled Removals

	 MTOP
	  	:	  	 Maintenance Task Operating Plan

	 OEM
	  	:	  	 Original Equipment Manufacturer

	 PFR
	  	:	  	 Post Flight Report

	 PMA
	  	:	  	 Part Manufacturer Approval

	 PN
	  	:	  	 Part Number

	 SB
	  	:	  	 Service Bulletin

	 SCN
	  	:	  	 Specification Change Notice

	 SN
	  	:	  	 Serial Number

	 SRM
	  	:	  	 Structural Repair Manual

	 STC
	  	:	  	 Supplemental Type Certificate

	 TBO
	  	:	  	 Time Between Overhauls

	 TCCA
	  	:	  	 Transport Canada Civil Aviation

	 TRO
	  	:	  	 Time Remaining before Overhaul

	 TSI
	  	:	  	 Time Since Installation

	 TSN
	  	:	  	 Time Since New

	 TSO
	  	:	  	 Time Since Overhaul

	 USD
	  	:	  	 United States Dollar

 All technical terms not defined herein shall be defined in the Orders or, where the context so admits, have
the same meaning as defined in the latest edition at the date hereof of the Common Support Data Dictionary (CSDD) published by the Air Transport Association. 

CLAUSE 3—IMPLEMENTATION, DURATION, RENEWAL 
  

	3.1	This Agreement shall become effective upon its signature date by both Parties (the “Entry Into Force”) and shall remain in force and effect thereafter, unless an early termination pursuant to Clause 18
occurs, for a period of twelve (12) years from the Start Date of the Services (the “Initial Period”). 

  

	3.2	At the expiration of the Initial Period, this Agreement may be extended upon a mutual written agreement between the Parties. Both Parties shall endeavour to start negotiations in good faith on such extension
twelve (12) months before the end of the Initial Period for the purposes of signing it no later than six (6) months prior to the end of the Initial Period. 

  
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 For the avoidance of doubt, should the Parties fail to sign such extension on or before six
(6) months prior to the end of the Initial Period, this Agreement shall terminate at the end of the Initial Period, and, unless otherwise stated herein, neither Party shall have any further rights or obligations hereunder, with the exception of
those set forth in Clause 
 20.8 herein. 

The Initial Period and the subsequent extensions as defined here above, are collectively designated under the Agreement as the
“Term”. 
  

	3.3	Notwithstanding the Entry Into Force of this Agreement, AIRBUS will have no obligation to initiate the Services to the Customer unless the Customer has fulfilled all the obligations in the time and manner
specified in Clause 13 herein (each in form and substance satisfactory to AIRBUS) or otherwise mutually agreed by the Parties. 

  

	3.4	This Agreement being signed less than six (6) months prior to the Start Date, the obligations of AIRBUS in terms of Service Level performance and OSS initial delivery will be effective, subject to the actual
performance of: a) the buyback as set out in Appendix F, and b) the warehousing/logistics activity related to the Pool by the Customer, from the time of the Customer commercial operations with its Aircraft (meaning the first commercial revenue
flight) (which is expected, at the time of signature of this Agreement, to be from November 1st, 2016). 

 CLAUSE 4—LEASE AND
SERVICES SCOPE AND RESPONSIBILITIES 
  

	4.1	Responsibilities of AIRBUS 

  

	4.1.1	Services 

 4.1.1.1    Description of the Services 

Provided that the Customer complies with its obligations under this Agreement, AIRBUS shall provide, and the Customer shall purchase, the
following services for the Aircraft: 
 -    OSS availability at the Main Base (the “OSS Service”), as defined
in Appendix B-1, 
 -    Standard exchange pool access (the “Pool Access Service”), as defined in Appendix
B-2, 
 -    FHS Components maintenance and engineering service (the “Maintenance and Engineering Service”),
as defined in Appendix B-3 and 
 -    FHS Engineering and Logistic Assistance (the “FHS Engineering and Logistic
Assistance”) which includes: 
  

	 	•	 	the FHS Manager On Site Assistance as defined in Appendix B-4 and 

  

	 	•	 	the Direct Shipment process as defined in clause 8 of Appendix B-1 

  
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 (individually the “Service” or collectively the “Services”). 

4.1.1.2     Execution of the Services 

The Customer acknowledges and agrees that AIRBUS shall be entitled, at any time during the Term of the Agreement, to subcontract to any third
party all or any part of the Services, provided that such third party complies with the provisions in Clauses 8.1 and 8.2. For the avoidance of doubt, AIRBUS will bear all responsibility for the work performed by the third parties subcontracted by
AIRBUS for the purpose of the Services and shall remain liable for its obligations hereunder (including payment obligation) and shall be responsible for any subcontractor’s performance thereof. 

For the sake of clarity and transparency, the Services to be provided under this Agreement by AIRBUS will not involve the transfer of know-how
to the Customer by no means whatsoever. The Services shall be performed without the presence of any Customer’s technician and no technical report shall be delivered by AIRBUS in connection therewith (except if expressly required by the
Customer, as foreseen on Clause 10). 
  

	4.1.2	Lease of Stock 

 4.1.2.1     Description of the lease 

Provided that the Customer complies with its obligations under this Agreement, AIRBUS shall lease stock, and the Customer shall take stock on
lease, as follows: 
 -     OSS availability at the Main Base (the “OSS Service”), as defined in Appendix B-
1, 
 -     Standard exchange pool access (the “Pool Access Service”), as defined in Appendix B-2. 

 

	4.2	General responsibilities of the Customer 

 The Customer, in addition to any other
obligations set out in this Agreement, shall: 
 (i)    As the AOC Holder: 

a.    operate the Aircraft in accordance with the Customer’s Airworthiness Authority’s requirements; and 

b.    maintain the Aircraft in accordance with the Aircraft manufacturer’s manuals; and 

(ii)    Comply with its obligations with respect to quality as described in Clauses 8.1 d 8.3 herein; and 

  
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 CONFIDENTIAL TREATMENT REQUESTED 

 

	 	(iii)	Comply with its obligations with respect to insurances as described in Clause 16 herein; and 

  

	 	(iv)	Notify AIRBUS in writing one month prior to the actual delivery date of each Aircraft; and 

  

	 	(v)	Perform FHS Components removals from and installations on the Aircraft in accordance with the applicable technical data of the Aircraft manufacturer and the OEMs, including the AMM; and 

 

	 	(vi)	Perform the configuration management of the Aircraft and all parts, including FHS Components and any Aircraft subassembly in accordance with all mandatory or regulatory technical notices and log books, place relevant
Orders to upgrade Aircraft parts including FHS Components as necessary, and deliver to AIRBUS a copy of such documentation upon each maintenance event or upon request by AIRBUS; and 

 

	 	(vii)	Place Standard Exchange Orders in accordance with Clause 5.3 of this Agreement and the Additional Work Purchase Orders; and 

  

	 	(viii)	Provide to AIRBUS, for each Aircraft, every month from the Start Date, and no later than the fifth (5th) Day of each month, the FH and the FC of the preceding month; and 

 

	 	(ix)	Provide the information required when an Unserviceable FHS Component is returned to AIRBUS as described in Clause 5 of Appendix B-2; and 

 

	 	(x)	After an initial grace period of twelve (12) months, provide every three (3) months to AIRBUS, in respect of the Aircraft, a detailed planning schedule showing, for the next twelve (12) months:

  

	 	-	scheduled maintenance events such as but not limited to A checks and C checks and 

  

	 	-	time controlled FHS Component’s scheduled removal, such as but not limited to life limited parts (LLP) and hard time FHS Component (HT). 

In case the Customer shall not perform its above obligation of (x), AIRBUS shall notify the Customer to remedy to such failure within five
(5) days. 
  

	 	(xi)	Comply with its obligations with respect to the FHS Manager(s) On Site Assistance as set forth in Appendix B-4 hereto; and 

  

	 	(xii)	Provide the latest MEL applicable to the Aircraft at the Entry Into Force. Should this MEL be modified by the Customer after the Entry Into Force the Customer shall provide it to AIRBUS in a timely manner; and

  
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	 	(xiii)	Provide non incident statement for any FHS Component upon AIRBUS request for the time such FHS Component is under the Customer’s responsibility. 

It is understood by the Parties that any activity which is not defined under this Agreement as an obligation of AIRBUS, remains under the
responsibility of the Customer. 
 CLAUSE 5—EXECUTION PROCEDURE FOR SERVICES 

5.1                   Interface Manual 

The execution procedure for each Service to be performed by AIRBUS will be detailed in a procedure manual describing the interfaces between
the Customer and AIRBUS hereinafter referred to as (the “Interface Manual”) to be signed between the Parties within two (2) months after the Entry Into Force unless otherwise agreed by the Parties. 

Each Party shall appoint a project team and respective project manager upon the Entry Into Force of this Agreement in order to produce the
Interface Manual and to prepare implementation of the Services. 
 The Parties acknowledge and agree that the Interface Manual may be used
by the Customer vis-à-vis the Customer’s Airworthiness Authority if applicable. The Interface Manual is supplied by AIRBUS under the express condition that it is the sole responsibility of the Customer to comply with the Customer’s
Airworthiness Authority regulations and to demonstrate how the Customer is organising the sharing of activities and responsibilities between itself and its maintenance providers. 

The Interface Manual shall define standard or routine operating procedures used during daily execution of this Agreement such as but not
limited to shipping and delivery instructions, routine communications, AOG procedures, technical performance reviews, LRU technical documentation standards, etc. In the event of a conflict between the Interface Manual and this Agreement concerning
policies, procedures, responsibilities, or any commercial issues, then this Agreement shall take precedence over the Interface Manual. 

The procedures, details, terms or provisions of the Interface Manual shall in no way alter, modify, supersede, diminish or contradict the
terms and provisions of this Agreement and its Appendices. Where there is a conflict between the Interface Manual and this Agreement or its Appendices, the Agreement or its Appendices shall prevail. 

5.2                  Performance Meeting 

Six (6) months from the Entry Into Force and thereafter on a six (6) monthly basis until the end of the Term, unless otherwise
agreed between the Parties, or at the request of a Party, AIRBUS and the Customer will hold a meeting to evaluate the performance of the Services (the “Performance Meeting”). 

The location of such meeting shall be at the Main Base unless otherwise mutually agreed between the Parties. 

  
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 In the course of each Performance Meeting, the Parties will evaluate the following but not
limited topics: 
 -     Modification of the Interface Manual, if necessary, 

-     Service Level performance, 

-     NFF figures, 

-     Scheduled new aircraft deliveries 

-     Removal rates 

-     Shop Findings 

-     Achievement of the Service Level, including remedies, 

-     Technical Review 

-     Mean Time Between Unscheduled Removals (MTBUR) below guaranteed rates 

-    Any other item that may arise in connection with the execution of this Agreement. 

For the aforementioned meeting, AIRBUS agrees to use reasonable endeavours to provide relevant available and non-confidential data to compare
if and when possible the performance of the components. 

5.3                  FHS Portal 

The Customer shall place the Standard Exchange Orders through a web portal, made available by AIRBUS to the Customer (hereafter the “FHS
Portal”). The FHS Portal is currently accessible through the AirbusWorld portal and governed by the general terms and conditions for access and use of AirbusWorld in force between AIRBUS and the Customer. 

The means to access to, connection with and development of any interface between the Customer’s logistic system and the FHS Portal shall
remain under the responsibility of the Customer. 
 The Parties hereby acknowledge that, for the purpose of this Agreement, the performance
of each Party shall be measured with the time stamps recorded in the FHS Portal. 
 CLAUSE 6—TRANSPORTATION AND DELIVERY 

6.1                  General Conditions 

Each Party undertakes that any FHS Components sent to the other Party for the purpose of this Agreement shall be packed in accordance with the
recommendations of the manufacturer, applicable regulations and ATA 300 specifications and in compliance with 

  
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 all applicable laws related to hazardous material. The Parties undertake to maintain all packing
containers, frames and other packing material in a good and reusable condition. 
 [*****] 

6.2                  Delivery 

 

	6.2.1	During the Term of this Agreement, the Parties will ensure that FHS Components shall be transported and delivered as follows: 

AIRBUS shall organize the import and the transportation of the FHS Components related to the initial fill for the creation of the OSS and the
Pool via DAP Incoterms Tancredo Neves/Confins International Airport (CNF) Belo Horizonte, Brazil. 
 The FHS Components shall be then be
transferred to the Customer warehouse under the 
 Customer’s responsibility and cost. 

For the Maintenance Service and/or the OSS and Pool Access Services, the following incoterms will apply: 

 

	 	•	 	AIRBUS shall organize the transportation of the FHS Components DAP Guarulhos International Airport, Sao Paulo Brazil, according to the Incoterms 2010, 

 

	 	•	 	The Customer shall return the Unserviceable FHS Components FCA Guarulhos International Airport, Sao Paulo Brazil, according to the Incoterms 2010. 

The Customer shall be responsible for any local transportation in Brazil and for the transportation and customs clearance of all FHS
Components (serviceable and unserviceable) between the Main Base in VCP and any outstations when drop shipments are requested. 
 Any
requests from the Customer for delivery of FHS Components to a location other than the delivery point in Guarulhos International airport will be analysed on a case by case basis and such deliveries shall be chargeable in addition to the FHS Fees on
a Time and Material basis as Additional Work. 

  
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 CLAUSE 7 – TRANSFER OF TITLE AND TRANSFER OF RISK 

 

	7.1	Transfer of risk 

 Risk of loss or damage to each FHS Component under this Agreement
shall pass from the delivering Party to the receiving Party or its nominated freight agent, in accordance with the delivery conditions set out in Clause 6.2.1. 
  

	7.2	Transfer of title and property 

 Title to all FHS Components which are to be provided
from time to time hereunder by AIRBUS to the Customer will be held by AIRBUS or one or more other persons (AIRBUS or such other persons, the “Owner”). If AIRBUS is not the Owner, AIRBUS has been appointed as the agent of the Owner and
shall effect transfer of title and/or title exchange on behalf of the Owner in accordance with the terms of this Agreement. 
 In the event
of a FHS Component Standard Exchange, 
  

	 	i)	transfer of title and property (including the benefit of any warranties and guarantees) of the FHS Component from the Owner to the Customer shall occur upon installation in the Aircraft of such FHS Component; and

  

	 	ii)	transfer of title and property (including the benefit of any warranties and guarantees) from the Customer to the Owner of an Unserviceable FHS Component shall occur alter removal of such Unserviceable FHS Component from
the Aircraft and installation of the relevant Serviceable FHS Component in the Aircraft. 

 The Parties shall respectively
ensure that the FHS Component and the Unserviceable FHS Component are each free and clear of all liens and encumbrances. 
 The transfer of
title, property and risk with regard to the Buy-Back is defined in Appendix F. 
 CLAUSE 8 – QUALITY SPECIFICATIONS 

 

	8.1	Generality 

 Each Party undertakes to declare any incident related to a FHS Component
delivered to the other Party. For the avoidance of doubt, any FHS Component that is not declared to be incident-related shall be understood to be non-incident-related by the other Party. 

 

	8.2	AIRBUS quality obligations 

  

	8.2.1	AIRBUS shall ensure the availability of full and complete records of all Services carried out hereunder in accordance with applicable regulation requirements. Such records shall be available for examination and
inspection by the Customer and its authorised representatives during Business Days. 

  
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	8.2.2	New FHS Components shall be accompanied by a release certificate issued by the applicable OEM as specified in the type certificate holder parts catalogue. The release document shall clearly state that it is
issued under the approval of the relevant Airworthiness Authorities under whose regulatory control the OEM works. 

 Used FHS
Components shall be released by an EASA Part 145 approved maintenance organisation and accompanied by: 
  

	 	-	EASA Form 1; or 

  

	 	-	FAA Form 8130-3 dual release (meaning a release valid under FAA and EASA); or 

	 	

	 	-	TCCA Form 240078 dual release (meaning a release valid under TCCA and EASA); or 

	 	

	 	-	TCCA Form 1 dual release (meaning a release valid under TCCA and EASA); as applicable. 

 During
the Term, when the Services are being performed at an AIRBUS Repair Facility, such AIRBUS Repair Facility shall be EASA PART 145 or FAA 14CFR PART 145. As such, AIRBUS shall maintain facilities for Services on the LRUs in accordance with the LRUs
manufacturer’s manuals and other applicable documentation. These facilities shall be approved by the FAA or EASA aviation authorities. 

AIRBUS shall be responsible for identifying and implementing any applicable EASA ADs in the FHS Component to be delivered to the Customer, in
accordance with Clause 2.2 “ADs/SBs policy” of Appendix B-3 of this Agreement. 
  

	8.2.3	AIRBUS will also endeavour to supply the Services in accordance with reasonable written instructions that the Customer may give from time to time. To the extent not otherwise covered by this Agreement, any
additional costs directly related to such instructions, if any, shall be borne by the Customer subject to its prior agreement. If no agreement can be reached, AIRBUS shall not be obliged to follow the respective Customer’s instructions.

  

	8.3	Customer quality obligations 

  

	8.3.1	The Customer shall remain responsible at all times for the continuing airworthiness of the Aircraft, for its documentation, for any part installed on the Aircraft or intended to be and for the incorporation of
any mandatory SB and compliance with ADs. 

  

	8.3.2	The Customer shall remain responsible for Aircraft logbooks. Any derogation provided by the Customer’s Airworthiness Authority shall remain under the responsibility of the Customer. 

  
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	8.4	Audit 

  

	8.4.1	The Customer, as the AOC Holder, and/or the Customer’s Airworthiness Authority representatives will have access during Business Days to AIRBUS and the premises of its subcontractors, subject to reasonable
prior written notice, for audits related to the obligations set out in Clause 8 of this Agreement. The cost of such audits shall be borne by the Customer. The Customer shall not be entitled to visit AIRBUS’ subcontractor(s) for the purposes of
conducting an audit related to this Agreement without a duly authorised representative of AIRBUS present. 

  

	8.4.2	AIRBUS shall be entitled, subject to reasonable prior written notice, to visit during Business Days the premises of the Customer and/or any Aircraft and/or any maintenance facility and/or store and/or Storage
Location and/or to access any data or document related to Aircraft maintenance and operations that AIRBUS may require in order to audit the obligations of the Customer under this Agreement. Unless otherwise agreed between the Parties, any visit
shall be conducted during the scheduled operations of the Aircraft and AIRBUS or its representative(s) shall not disrupt the scheduled operations of the Customer. The cost incurred by AIRBUS to conduct such audits and visits will be borne by AIRBUS.

 [*****] 
  

	8.4.3	AIRBUS shall notify the Customer in writing of the outcome of any such audit or operational visit and any remedial actions that the Customer shall perform under this Agreement. The Customer shall carry out any
and all such reasonable remedial actions within the reasonable time period notified by AIRBUS. 

 CLAUSE 9 – WARRANTIES
AND LIMITATION OF LIABILITY 
  

	9.1	Warranties assignment and warranties administration delegation 

 The Customer shall
delegate to AIRBUS, its Affiliates and/or subsidiaries its right to make Claims and to receive any payment pursuant to the warranties and guarantees on the FHS Components which have been or will be installed on all the Aircraft covered under this
Agreement at any point in time before or after the Start date. 
 Notwithstanding the transfer of title of the Unserviceable FHS Component,
such delegation shall be in effect: 
  

	 	(i)	until the expiration of all such warranties or guarantees or, 

  

	 	(ii)	in the event the Agreement terminates or expires before the expiration of the warranty or guarantees, until any claim made by AIRBUS under such warranty or guarantees is definitely settled with the relevant OEM or
supplier. 

  
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 Upon AIRBUS’ request the Customer shall sign a letter under which it authorises AIRBUS, its
Affiliates and/or subsidiaries and its selected subcontractors to administer and receive the benefit of the warranties and guarantees in the form referenced in Appendix E-1. 

[*****] 
 The Customer shall
grant delegation to AIRBUS to participate on its behalf to any official rating on FHS Component OEMs. 
  

	9.2	Warranties on FHS Components 

 AIRBUS shall repair, replace or correct any defective or
non-compliant FHS Components, without any additional cost for the Customer (other than the Service Fees set out in this Agreement), when a report by the Customer alleging such defect or non- compliance is made
and when such defect is confirmed to be under warranty. Such warranty is valid for a period as follows: 
 [*****][*****] 

[*****][*****] 
 The above
warranties are subject to the fulfilment of the provisions of Clause 4.2 and to normal wear and tear. For the avoidance of doubt, the Service Fees under this Agreement are inclusive of the benefits of the warranty pursuant to this Clause 9.2. 

[*****] 
 In addition to the
above, the Customer shall delegate to AIRBUS extended warranties obtained with the corresponding OEMs for the FHS Components listed in Appendix G. For sake of clarity, such extended warranties supersede and replace the initial warranties mentioned
in (i) and/or (ii) above. 
  

	9.3	Limitations of liability 

 [*****] 

  
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 [*****] 

[*****][*****] 
 [*****][*****]

 [*****][*****] 

[*****][*****] 
 [*****][*****]

 [*****] 
 [*****] 

9.4 [*****][*****] 
 CLAUSE 10—DOCUMENTATION

 The applicable documents to be delivered by AIRBUS in the performance of the Services shall be listed in the respective Appendices, or
Orders if applicable. Upon completion of the Services, AIRBUS will deliver to the Customer the relevant documentation attesting the performance of the Services in accordance with the applicable AIRBUS quality obligations as defined in Clause 8.2.

  
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 CLAUSE 11—SERVICE AND LEASE FEES AND PAYMENT 

 

	11.1	Service Fees 

 11.1.1 Service Fee generalities 

The fees for the Services provided by AIRBUS under this Agreement are set forth in Appendix C-1 herein (the “Service Fees”) and are
expressed in United States Dollars (USD) and in Brazilian Reals (BRL). Exclusions from the Service Fees are set out in Appendix C-1. 
 All
payments shall be made in United States Dollars, except the FHS Engineering and Logistic Assistance Fee in Brazilian Reals, in immediately available funds on the Due Date. 

The fees for Additional Work shall be subject to separate quotations to be agreed between the Parties in the relevant Additional Work Purchase
Order. 
 For sake of clarity, the fees set out in this Agreement remain valid subject to the performance by the Customer of the warehousing
of the FHS Components. 
 11.1.2 Validity and revision of Service Fees 

All the Service Fees under this Agreement have been established in accordance with the average economic conditions prevailing in December 2014,
January 2015, February 2015 and corresponding to Services delivery conditions 2016 (the “Base Period”). 
 [*****] 

[*****] 
  

	11.2	Fee Payments 

 11.2.1 Monthly Inventory Lease Fees 

The monthly inventory lease fees (OSS Lease Fees and Pool Access Lease Fees) and the FHS Engineering and Logistic Assistance Fee payable by the
Customer to AIRBUS are set out in Appendix C-1 Clause 2 and Clause 5 hereto, (the “Inventory Fees” and the “Assistance Fee”). The monthly Inventory Lease Fees and Assistance Fee are payable for a whole calendar month. [*****]

 [*****] 

  
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 [*****] 
 11.2.2
Monthly Maintenance Fees 
 In addition to the monthly Inventory Lease Fees set out in Clause 11.2.1, the Customer shall pay maintenance
fees, set out in Clause 3 of Appendix C-1 hereto, for each calendar month [*****] 
 If applicable, the Fees payable by the Customer for
part of a calendar month will be the relevant proportion calculated on a pro-rata temporis basis. 
 11.2.3 Service Fees Reconciliation 

[*****] 
 [*****][*****] 

[*****][*****] 
 AIRBUS shall be
entitled, further to reasonable prior written notice to the Customer, to check in the Customer’s facilities or anywhere the Aircraft may be positioned, the exact number accumulated Flight Hours, Flight Cycles corresponding to the Aircraft. 

[*****] 
 [*****] 

  
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 [*****] 

[*****] 
 11.2.4 Additional Invoices 

All the services subject to Additional Work Purchase Order for which prices are not defined under Appendix C-1 shall be invoiced on a per event
basis. 
 11.2.5 Payment Terms 
 All
invoices, under this Agreement shall be paid no later than the Due Date; the value date on which such payment is credited to AIRBUS’ account shall be on or before this Due Date. 

11.2.6 Payment Terms in case of Excusable Delay 

[*****] 
  

	11.3	General conditions 

  

	 	a-	Addresses to be used for invoicing 

 [*****] 

 

	 	b-	Bank account designated by AIRBUS 

 [*****] 

[*****] 
 [*****] 

[*****] 

  
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 11.3.1 Invoice Dispute 

In the event of an invoice dispute between the Parties, which shall be notified in writing by the Customer to AIRBUS within thirty
(30) Days from issuance of such disputed invoice, the Customer shall not be entitled to withhold payment of the disputed portion of the invoice until resolution of such dispute and as long as the invoices have been issued by AIRBUS according to
clause 11. Such resolution shall be negotiated in good faith between the Parties within forty five (45) Days from issuance of the relevant invoice. When an invoice is not disputed within thirty (30) Days from its issuance, such invoice
shall be deemed to be accepted by the Customer. [*****] 
 11.3.2 [*****] 

[*****] 
 11.3.3 Cross-Collateralisation

 [*****] 

[*****][*****] 
 [*****][*****]

 [*****][*****] 

  
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 11.3.4 Late payment interest (overdue payment) 

If any payment due to AIRBUS under this Agreement is not received on the Due Date, without prejudice to the other rights of AIRBUS under this
Agreement and at law, AIRBUS shall be entitled to claim from the Customer, [*****] 
 [*****] 

11.4 Duties and taxes 
 11.4.1 [*****] 

11.4.2 [*****] 
 11.4.3 [*****] 

[*****] 
 [*****] 

[*****] 
  

  
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 11.5 Proprietary Interest 

The Customer shall not, by virtue of anything contained in this Agreement (including, but without limitation to any payment hereunder) acquire
any proprietary, insurable or other interest whatsoever in any FHS Component, goods or services as provided under this Agreement including FHS Components. 

CLAUSE 12 – SECURITY DEPOSIT 

12.1 [*****] 
 [*****] 

[*****] 
 12.2 [*****] 

  
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 [*****] 

12.3 [*****] 
 12.4 [*****] 

[*****] 

  
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 CLAUSE 13 – CONDITIONS PRECEDENT 

Any AIRBUS obligation hereunder shall be subject to and conditional upon each of the following conditions precedent being continuously met to
the satisfaction of AIRBUS prior to the performance of any Services: 
  

	 	(i)	The Customer shall sign the Interface Manual; and 

  

	 	(ii)	The Customer shall provide to AIRBUS certificates of insurance detailing the coverage of each policy and confirming the agreement of the approved underwriters to the insurance and reinsurance requirements of this
Agreement in compliance with Clause 16; and 

 [*****][*****] 

[*****][*****] 

[*****][*****] 

[*****] 
 CLAUSE
14 – EXCUSABLE DELAYS 
  

	14.1	Neither AIRBUS nor the Customer shall be responsible nor be deemed to be in default on account of delays in delivery or otherwise in the performance of this Agreement or any part thereof with the exception of the
payment obligations of the Customer pursuant to Clause 11 herein, due to causes reasonably beyond the control of AIRBUS’ or one of its subcontractors, or the Customer as applicable, and not occasioned by its fault or negligence including but
not limited to: natural disasters, fires, floods, explosions or earthquakes, epidemics or quarantine restrictions, total or constructive total loss, war, civil war, warlike operations, terrorism, insurrections or riots, general hindrance in
transportation, failure in communications, strikes or labour troubles causing cessation, slow down or interruption of work, inability after due and timely diligence to procure materials, equipment or parts, failure of a subcontractor or vendor to
furnish materials, equipment or parts due to causes reasonably beyond the control of such subcontractor or vendor or failure of the Customer to comply with its obligations arising out of the present 

  
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 Agreement. Any delay or interruption resulting from any of the foregoing causes is referred to as
an “Excusable Delay”. 
  

	14.2	If an Excusable Delay occurs, the Party affected by such Excusable Delay shall not be responsible for any damages arising from or in connection with such Excusable Delay suffered or incurred by the other Party;
and shall not be deemed to be in default in the performance of its obligations hereunder as a result of such Excusable Delay. For the avoidance of doubt, the provisions set out in this Clause 14 shall not apply to the payment obligations of the
Customer pursuant to Clause 11 herein. 

 14.3 Mitigation 

Notwithstanding the occurrence of an Excusable Delay, the affected Party shall make every reasonable effort to mitigate the effects of the
Excusable Delay. 
 14.4 Notification 

If an event of Excusable Delay occurs that causes or may cause a delay in the performance by either Party of its obligations under the
Agreement, such Party shall: 
  

	 	a)	Notify the other Party in writing of such Excusable Delay as soon as practicable after becoming aware of the same; 

  

	 	b)	Describe the event causing the Excusable Delay in reasonable detail; 

  

	 	c)	Provide an evaluation of the obligations affected; 

  

	 	d)	Indicate the probable duration of such delay; 

  

	 	e)	Notify the other Party of the measures that will be taken; and 

  

	 	f)	Upon cessation of the event causing the Excusable Delay, notify the other Party in writing of such cessation. 

14.5 Re-scheduling 
 Following cessation
of an event of Excusable Delay and, to the extent possible, in anticipation thereof, the Party affected by such Excusable Delay shall, in addition to the above obligations, resume the performance of its obligations under the Agreement. It
performance or delivery of the Services is delayed or is anticipated to be delayed as a result of an event of Excusable Delay, the Services performance and delivery may be re- scheduled as may be agreed between the Parties. 

 

	14.6	If, as a result of an Excusable Delay, the performance of the obligations under this Agreement of the affected Party is delayed by more than two (2) months, the Parties shall negotiate in good faith the
measures to overcome or limit the effects of such Excusable Delay. 

  
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	14.7	If as a result of an Excusable Delay, the performance obligations of the affected Party are delayed by more than six (6) consecutive months and if the Parties do not reach an Agreement with respect to such
delay pursuant to Clause 14.5 and 14.6, then either Party may terminate this Agreement with respect to the affected Service by giving written notice to the other Party within thirty (30) Days after the expiry of such six (6) months period.

 14.8 [*****] 
 CLAUSE
15 – INDEMNIFICATION 
 15.1 [*****] 

[*****] 
 15.2 [*****] 

[*****] 

  
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 [*****] 

15.3 [*****] 
 [*****] 

[*****][*****] 

[*****][*****] 
 [*****] 

CLAUSE 16 – INSURANCE 
 16.1
Customer Insurance 
  

	16.1.1	The Customer shall maintain in force with reputable and substantial insurers, the following insurance coverage covering the Aircraft or its facilities: 

[*****][*****] 

[*****][*****] 

[*****][*****] 

  
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 [*****] 

[*****][*****] 

[*****][*****] 
 16.1.2 [*****]

 [*****][*****] 

[*****][*****] 

[*****][*****] 
 16.1.3 [*****]

 [*****] 
 16.2 AIRBUS
Insurance 
 16.2.1 [*****] 

[*****] 

  
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 16.2.3 [*****] 

[*****] 
 CLAUSE 17 - INTELLECTUAL
PROPERTY RIGHTS 
 The performance by AIRBUS of Services shall not constitute in any way for the Customer a transfer or any right of
use, of all or part of the intellectual property rights owned by AIRBUS and/or its subcontractors or licensed to AIRBUS by any third party. AIRBUS and its subcontractors as applicable shall remain the exclusive owner of any intellectual property
rights related to the Services such as but not limited to: design of the FHS Components Interface Manual or industrial process. 
 CLAUSE 18 - EARLY
TERMINATION 
  

	18.1	Termination for insolvency 

 [*****] 

[**][*****] 

[**][*****] 

[**][*****] 

[**][*****] 

[**][*****] 

[**][*****] 
 [*****]

 [*****] 

  
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 [*****] 

[**] [*****] 
 [**] [*****] 

 

	18.2	Termination for AIRBUS default 

 [*****] 

[*****] 
 [*****]

  

	18.3	Termination for Customer default 

 18.3.1 [*****] 

18.3.2 [*****] 

  
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redacted and filed separately with the Securities and Exchange Commission. 

  

					
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 [*****] 

18.3.3 [*****] 
 18.3.4 [*****] 

[*****] 
 [*****]

 18.4 [*****] 
 18.4.1 [*****] 

[*****] 
 [*****]

  
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 [*****] 

[*****] 
 [*****]

 [*****] 
 18.4.2
[*****] 
 [*****] 

[**][*****] 

[**][*****] 

[**][*****] 
  

	18.5	General 

  

	18.5.1	To the full extent permitted by law, the termination of all or part of this Agreement pursuant to this Clause 18 shall become effective immediately after the notice period in accordance with Clause 18.2 and 18.3,
without it being necessary for either Party to take any further action or to seek any consent from the other Party or any court or arbitral panel having jurisdiction. The premature termination of all or part of this Agreement shall not relieve the
Parties of any liabilities, obligation, expense or charges accrued up to the date of such termination and all rights up to the said termination shall likewise remain in full force and effect. 

  
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	18.5.2	If the Party terminating this Agreement decides to terminate part of it only, the notice sent to the other Party shall specify solely those provisions of this Agreement that shall be terminated.

 18.5.3 
 [*****]

 CLAUSE 19 - GOVERNING LAW AND DISPUTES 
  

	19.1	Governing law 

 This Agreement shall be governed by and construed in accordance with
English law. 
  

	19.2	Disputes 

 Any dispute arising out of or in connection with this Agreement shall be
finally settled under the Rules of Arbitration of the International Chamber of Commerce by three (3) arbitrators appointed in accordance with such rules.    Arbitration shall take place in London in the English language.

 CLAUSE 20 - MISCELLANEOUS 
  

	20.1	Data Retrieval 

 The Customer shall provide AIRBUS as AIRBUS may request, with all
necessary data as normally compiled by the Customer and pertaining to the operation of the Aircraft for an efficient and coordinated survey of all reliability, maintainability, operational and cost data with a view to monitoring the efficient and
cost effective operations of the Airbus aircraft fleet. 
  

	20.2	Entire Agreement 

 This Agreement constitutes the entire agreement between the Parties
hereto on the subject hereof, and renders void and of no effect any and all prior oral or written agreements, understandings, commitments or representations. This Agreement may not be amended or modified except in writing signed by both Parties or
by their duly authorised representatives. 

  
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	20.3	Notices 

 All notices and requests required or authorised hereunder shall be given in
writing by registered mail (return receipt requested), express mail (tracking receipt requested), to be confirmed by subsequent registered mail. The date upon which it is received by the addressee or, if given by facsimile, the date upon which it is
sent with a correct confirmation printout, shall be deemed to be the effective date of such notice or request provided that if such date of receipt is not a Business Day notice shall be deemed to have been received on the first following Business
Day, shall be deemed to be the effective date of such notice or request. 
 The Customer shall be addressed at: 

Azul Linhas Aéreas Brasileiras S.A., 

Head office at Avenida Marcos Penteado de Ulhôa Rodrigues, 

n° 939 Edificio Castelo Branco Office Park, Torre Jatobá Tamboré, 

Alphaville Industrial Barueri, SP 06460-040 Brazil 

AIRBUS shall be addressed at: AIRBUS SAS 

Attention: Services Solutions Contract department, Customer Support and 

Services 
 1, Rond Point Maurice
Bellonte 
 BP 33 
 F-31707
Blagnac Cedex 
 France 
  

	20.4	Applicable language 

 All correspondence, documents and other written matters in
connection with this Agreement shall be in English. This Agreement has been agreed and prepared in the English language. In the event of this Agreement or any part thereof being translated into any other language, the same shall continue to be
construed and interpreted according to the English language version, which shall therefore prevail in the event of any conflict. 
  

	20.5	Severability 

 In the event that any term or condition of this Agreement is determined by
a court or agency of competent jurisdiction to be invalid or unenforceable, such invalid or unenforceable term shall be deemed to be deleted from the Agreement and the balance of the Agreement shall remain in full force and effect. 

  
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	20.6	Export Control 

 The Services and/or part of the Services, including any result there
from, may be subject to export laws and regulations (hereafter referred to as “Export Regulations”), which may include U.S. export laws and regulations, and the Parties acknowledge that diversion contrary to such Export Regulations is
prohibited. The Customer shall indemnify and hold AIRBUS harmless against any losses, damages, fees or monetary sanctions imposed as a result of the failure by the Customer to comply with any applicable export control law or regulation. The Customer
shall provide all its Best Efforts to provide the support necessary for AIRBUS and/or any of its subcontractors to apply for any relevant official approvals, licenses and authorisations required for the performance of the Service and/or part of the
Service. For the avoidance of doubt, should AIRBUS or any of its subcontractors fail to obtain in due time and due manner the relevant official approvals, licenses and authorisations necessary to perform the Services and/or part of the Services
under this Agreement, it shall be considered as an Excusable Delay. 
 For the purpose of this clause, “Best Efforts” means the
Customer shall undertake the necessary actions and efforts that it would be expected to undertake and spend, being a high level standard company, as if it was its own internal business in the same conditions in order to perform the activity and to
obtain the intended result (as described in the contract in article (export control chapter). Further, in case of non-performance of the intended result, the Customer shall evidence that it has used due diligence and has done everything in its power
to accomplish the intended purpose. 
  

	20.7	Assignment and novation 

  

	20.7.1	Assignment 

 This Agreement shall not be assigned by either of the Parties hereto without
the prior written consent of the other Party. Any assignment made without such consent shall be of no effect whatsoever between the Parties hereto. 

Notwithstanding the above, this Agreement may be assigned or transferred (including an assignment by way of security), by AIRBUS, without the
prior consent of the Customer (i) to any entity directly or indirectly controlling, controlled by, or under common control with, AIRBUS and (ii) to any Financing Party or to any other entity for the purposes of financing, partially or
fully, AIRBUS’ interests in the transactions contemplated by this Agreement at any time. 
 The Customer shall fully and promptly
cooperate with AIRBUS in respect of any such financing or refinancing and shall take any action reasonably required by AIRBUS in respect thereof, including providing AIRBUS and any Financing Party with an acknowledgement of assignment in relation to
the assignment, by way of security, by AIRBUS to such Financing Party of all of AIRBUS’ right, title and interest in and to this Agreement. AIRBUS shall procure that any Financing Party shall provide to the Customer a quiet enjoyment letter,
substantially in the form set forth in Appendix E-3 to this Agreement. 

  
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 The Customer shall have provided AIRBUS and any Financing Party with an acknowledgement of
assignment in relation to the assignment by way of security, by AIRBUS to such Financing Party, of all of AIRBUS’ right, title and interest in and to this Agreement. 
  

	20.7.2	Novation 

 Notwithstanding the foregoing clause 20.7, in the event of a corporate
reorganization (including a merger acquisition) of the Customer or the group its belongs to, the Customer may transfer this Agreement together with all of its rights and obligations to any parent company or affiliate subject to the following
conditions: 
  

	 	i)	The Customer shall notify AIRBUS in advance of such transfer; and 

  

	 	ii)	Such transfer shall not impact or change the assumptions of the Agreement (including as set out in clause 1 of Appendix C-1); and 

  

	 	iii)	Such transfer shall be subject to the parties signing a novation between the Parties in order to identify the new party to the Agreement and to transfer the Customer’s rights and obligations to the new party; and

  

	 	iv)	This transfer cannot be made to any AIRBUS’ competitor, including for FHS or Aircraft maintenance services. 

  

	20.8	Confidentiality 

 Unless otherwise agreed, this Agreement and all information including
proprietary information becoming available or coming into the possession or knowledge of either Party by virtue of this Agreement or its performance shall at all times be treated by the Parties hereto as confidential and shall not be published,
disclosed or circulated except (and only insofar as is necessary) in connection with the performance by the Parties hereto of their obligations under this Agreement or for the purpose of legal proceedings relating thereto (including if required by
law, regulation or court order). 
 Notwithstanding the above, AIRBUS may disclose the existence and content of this Agreement, without the
prior consent of the Customer, to any potential financiers who may provide financing to fund the Owner’s acquisition or refinancing of any of the property the subject of this Agreement. 

Both Parties shall ensure that the undertaking contained in this Clause shall be brought to the notice of all employees, lawyers, accountants,
servants and agents having a “need to know” and engaged upon Services in connection with this Agreement. The obligations of the Parties under this Clause shall survive and continue for a five (5) year period after the discontinuance,
termination or cancellation of this Agreement or any part thereof and shall be binding on authorised assignees and successors in title of the Parties hereto. 

  
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	20.9	Publicity and public announcements 

 The Customer and AIRBUS may only make public
announcements, press releases and/or advertise on the signature and/or the existence of this Agreement with the prior written, consent of the other Party, which shall not be unreasonably withheld. AIRBUS is entitled to use the Customer’s name
and associated logos of the Customer and is entitled to disclose the existence and scope of the Agreement (but not its content) as a business reference for its marketing activities in relation to services. 

 

	20.10	Set-off 

 [*****] 

 

	20.11	Waiver 

 The failure of either Party to enforce at any time any of the provisions of this
Agreement, or to exercise any option therein provided, or to require at any time performance by the other Party of any of the provisions hereof, shall in no way be construed to be present or future waiver of such provision nor in any way to affect
the validity of this Agreement or any part thereof or the right of the other Party thereafter to enforce each and every such provision. The express waiver (whether one (1) or more times) by either Party of any provision, condition or
requirement of this Agreement shall not constitute a waiver of any future obligation to comply with such provision, condition or requirement. 
  

	20.12	Amendment 

 The Agreement shall not be modified nor amended unless by way of written
agreement duly executed by authorised persons within the Organisation of both Parties. 
  

	20.13	Counterparts 

 This Agreement has been executed in two (2) original copies. 

Notwithstanding the above, this Agreement may be executed by the Parties in separate counterparts, each of which when so executed and
delivered shall be an original, but all such counterparts shall together constitute one and the same Agreement. 
  

	20.14	Contracts (Rights of Third Parties) Act 1999 

 Save for any Financing Party and the
Owner, the Parties do not intend that any term of this Agreement shall be enforceable solely by virtue of the Contracts (Rights of Third Parties) Act 1999 by any person who is not a party to this Agreement. The Parties may rescind, vary, waive,
release and assign, novate or otherwise dispose of all or any of their respective rights or obligations under this Agreement in accordance with the terms of this Agreement without the consent of any person who is not a party to this Agreement. 

  
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	20.15	Inconsistencies 

 In the event of any inconsistency between the terms of this Agreement
and the terms contained in either (i) the Order, or (ii) any other Appendices, in each such case the terms of this Agreement shall prevail over the terms of the Order or any other Appendix. For the purpose of this Clause 20.15, the term
Agreement shall not include the Order or any other Appendices hereto. 
  

	20.16	Occurrence reporting 

 The Parties hereby acknowledge that AIRBUS may report some
in-service events and/or data obtained by AIRBUS during the performance of the Services set out in this Agreement to the relevant Airworthiness Authorities (the “Occurrence Reporting”). The Customer hereby agrees that, notwithstanding the
confidentiality provisions set out in Clause 20.8 herein, AIRBUS shall be entitled to disclose such Occurrence Reporting to the relevant authorities without prior agreement from the Customer. 

 

	20.17	Authorised representatives and signees 

 The Parties hereby represent and warrant that,
to their best knowledge: 
  

	 	i.	The signature hereof does not contravene any applicable law or regulation, and; 

  

	 	ii.	it does not require any governmental or other consent to enter into and perform its obligations under this Agreement, and; 

  

	 	iii.	This Agreement, including the performance of their obligations under this Agreement, does not contravene, or result in any breach of, or does not constitute any default under, any agreement to which the other Party is a
party, and; 

  

	 	iv.	There is no pending or threatened dispute, action or proceeding before any court or agency which, either individually or in the aggregate, might adversely affect its ability to perform its obligations under this
Agreement, and; 

  

	 	v.	it will not enter into any agreement, or act or omit to act, in such a way that would impair in any way the other Party’s ability to perform its obligations under and pursuant to this Agreement, and;

  

	 	vi.	it will not enter into any agreement, or act or omit to act, in such a way that would limit, condition or alter the full exercise of the rights granted to the other Party under this Agreement. 

In witness thereof this Agreement has been executed in duplicate by a duly authorised representative of each one of the Parties hereto. 

  
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 Each Party acknowledges receipt of its own original copy in English. 

  
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	Airbus FHS Agreement — [*****]	 	Page 46 of 117	  	[*****]

									
	 For and on behalf of
 Airbus
SAS
	 		 	 For and on behalf of
 Azul Linhas
Aéreas Brasileiras S.A. (AZUL

					
	Signature:	 	/s/ [illegible]	 		 	Signature:	 	/s/ [illegible]
					
	Name:	 	[Illegible]	 		 	Name:	 	[illegible]
					
	Title:	 	[Illegible]	 		 	Title:	 	Attorney-in-fact
					
	Date:	 	July 5, 2017	 		 	Date:	 	July 5, 2017

  
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	Airbus FHS Agreement — [*****]	 	Page 47 of 117	  	[*****]

 APPENDIX A - LIST OF AIRCRAFT COVERED BY THIS AGREEMENT 

 

					
	 A/C Rank
	 	 Starting date under the

Agreement
	 	 Finish date under the

Agreement

	1	 	01-Sep-16	 	01-Sep-28
	2	 	01-Oct-16	 	01-Sep-28
	3	 	01-Oct-16	 	01-Sep-28
	4	 	01-Nov-16	 	01-Sep-28
	5	 	01-Dec-16	 	01-Sep-28
	6	 	01-Dec-16	 	01-Sep-28
	7	 	01-Jan-17	 	01-Sep-28
	8	 	01-Feb-17	 	01-Sep-28
	9	 	01-May-17	 	01-Sep-28
	10	 	01-Jun-17	 	01-Sep-28
	11	 	01-Jul-17	 	01-Sep-28
	12	 	01-Oct-17	 	01-Sep-28
	13	 	01-Nov-17	 	01-Sep-28
	14	 	01-Dec-17	 	01-Sep-28
	15	 	01-Jan-18	 	01-Sep-28
	16	 	01-Jun-18	 	01-Sep-28
	17	 	01-Jul-18	 	01-Sep-28
	18	 	01-Sep-18	 	01-Sep-28
	19	 	01-Oct-18	 	01-Sep-28
	20	 	01-Nov-18	 	01-Sep-28
	21	 	01-Dec-18	 	01-Sep-28
	22	 	01-Jan-19	 	01-Sep-28
	23	 	01-May-19	 	01-Sep-28
	24	 	01-Jun-19	 	01-Sep-28
	25	 	01-Jul-19	 	01-Sep-28
	26	 	01-Oct-19	 	01-Sep-28
	27	 	01-Nov-19	 	01-Sep-28
	28	 	01-Dec-19	 	01-Sep-28
	29	 	01-May-20	 	01-Sep-28
	30	 	01-Feb-20	 	01-Sep-28
	31	 	01-Apr-20	 	01-Sep-28
	32	 	01-Jul-20	 	01-Sep-28
	33	 	01-Sep-20	 	01-Sep-28
	34	 	01-Oct-20	 	01-Sep-28
	35	 	01-Nov-20	 	01-Sep-28
	36	 	01-Dec-20	 	01-Sep-28
	37	 	01-Jan-21	 	01-Sep-28
	38	 	01-Feb-21	 	01-Sep-28
	39	 	01-Mar-21	 	01-Sep-28
	40	 	01-May-21	 	01-Sep-28
	41	 	01-Jul-21	 	01-Sep-28

  
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	Airbus FHS Agreement — [*****]	 	Page 48 of 117	  	[*****]

					
	 A/C Rank
	 	 Starting date under the

Agreement
	 	 Finish date under the

Agreement

	42	 	01-Sep-21	 	01-Sep-28
	43	 	01-Oct-21	 	01-Sep-28
	44	 	01-Nov-21	 	01-Sep-28
	45	 	01-Dec-21	 	01-Sep-28
	46	 	01-Jan-22	 	01-Sep-28
	47	 	01-Feb-22	 	01-Sep-28
	48	 	01-Mar-22	 	01-Sep-28
	49	 	01-May-22	 	01-Sep-28
	50	 	01-Jul-22	 	01-Sep-28
	51	 	01-Sep-22	 	01-Sep-28
	52	 	01-Oct-22	 	01-Sep-28
	53	 	01-Nov-22	 	01-Sep-28
	54	 	01-Dec-22	 	01-Sep-28
	55	 	01-Jan-22	 	01-Sep-28
	56	 	01-Feb-22	 	01-Sep-28
	57	 	01-Mar-22	 	01-Sep-28
	58	 	01-May-22	 	01-Sep-28

  
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 APPENDIX B-1 – ON SITE STOCK 

 

	1.	On Site Stock Availability 

 AIRBUS agrees to grant the Customer possession of the
On Site Stock and the Customer agrees to position such OSS at the Main Base. The possession, holding, use and disposal of the OSS and its review shall be subject to the terms and conditions of this Agreement. 

 

	2.	Provision and value of the On Site Stock 

  

	2.1	The OSS is composed of items defined in Attachment 1 to this Appendix B-1. 

  

	2.2	The OSS possession shall commence on the delivery date of the OSS pursuant to Clause 6 of the Agreement and shall end on the earlier of either: 

 

	 	(i)	the OSS being returned to AIRBUS at the end of the Term of this Agreement, or as it may be renewed or, 

  

	 	(ii)	the redelivery of the OSS to AIRBUS after the termination of this Agreement pursuant to Clause 18. 

  

	2.3	The possession of the OSS shall be granted by AIRBUS to the Customer for the duration of the Initial Period provided that the Customer has met its obligations under the Agreement. 

 

	3.	Delivery and use 

  

	3.1	The FHS Components of the OSS will be delivered by AIRBUS to the Customer, with the relevant airworthiness documents as set out in Clause 8.2.2 of this Agreement. 

 

	3.2	The OSS shall be gradually delivered. The start date of the OSS Service shall be September 1st, 2016 with the start of delivery of the first FHS Component to the
Customer (the “OSS Service Start Date”). 

  

	3.3	The Customer shall be responsible for i) ensuring the availability of the OSS at the Main Base upon delivery by AIRBUS and ii) for processing all necessary customs clearance for deliveries of the entire OSS being
positioned at the Main Base. The Customer shall, within thirty (30) Days from the date that any part of the OSS is delivered for the first time until the OSS is delivered in full, provide AIRBUS with evidence that the above customs clearance
has been made accordingly, failing which AIRBUS will be entitled to consider the Customer being in default pursuant to Clause 18 of this Agreement unless documents (such as delivery note, AWB) are missing from AIRBUS. The Customer shall not move the
OSS to another location without prior written authorisation from AIRBUS. The Customer is entitled to move some FHS Component(s) from the OSS to any other outstation in Brazil to ensure its daily operations. In such a situation, the Customer shall
ensure that the tracking of such FHS Components is well ensured through the IT system and that such FHS Components shall be stored in the outstations according to the conditions set out in this Appendix B-1. Impact on the Service Level because of
the location of some FHS Components in another location than the Main Base shall not be calculated for the achievement of the Service Level. 

Any additional stock to be located in outstations shall be agreed between the Parties by a mutual amendment to this Agreement. 

 

	3.4	The Customer shall be entitled to withdraw and use any of the items of the OSS in accordance with its operational needs, solely for the remedy of FHS Components associated defects on the Aircraft. No FHS Component
forming part of the OSS may be installed or used by the Customer on any aircraft other than the Aircraft. 

  

	4.	Customer Obligations 

 The Customer shall deploy means and methods within its
organization in order to ensure a continuous compliance with the AIRBUS requirements below. 

  
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	4.1	Quality management system certification 

 The Customer’s facility used for FHS Components
storage shall be i) governed by the rules of the Customer’s maintenance organization, which needs to be approved by the National Authorities or ii) certified to the applicable EN/AS/JISQ 9120 standard from a certificated registration body that
is accredited by the International Aerospace Quality Group (IAQG) and registered in the Online Aerospace Supplier Information System (OASIS) database. If, at the time of signature of this Agreement, the Customer’s facility is not certified to
the required above standard, the Customer shall obtain such certification within one (1) month from the Entry Into Force of the Agreement. 

The Customer shall immediately inform AIRBUS of the following event: 
  

	 	•	 	Change in approval, certificate such as any limitation, revocation or suspension 

  

	 	•	 	Change in its organisation structure that could affect the delivery of the Service 

 The
Customer shall provide, upon AIRBUS request, all records linked to the controlled deployment of AIRBUS requirements within its organization 
  

	4.2	Subcontracting 

 The Customer shall not subcontract any OSS activities without the prior written
consent of AIRBUS. 
  

	4.3	Audit and surveillance 

 The Customer shall provide full access to its facilities and to the
relevant records as described in Clause 8.4.2. to enable AIRBUS and any Airworthiness Authority (when accompanied by AIRBUS) representatives to conduct periodic inventory inspection of the OSS. 

  
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 4.3.1 OSS stock discrepancies 

Should any part of the OSS be missing, partially or totally damaged at the time AIRBUS or its agent/representative carries out an
inspection/audit, the Customer shall have a period of ten (10) Business Days from notification by AIRBUS or its agent/representative, to remedy the situation to the satisfaction of AIRBUS. Should the above not be solved within the relevant
timeframe, AIRBUS shall be entitled to invoice the Customer with the appropriate fee for such lost or damaged item resulting from the OEM spare parts catalogue applicable on the date of such invoice. 

Should any FHS Components from the OSS be found to be without its original airworthiness release certificate and associated documents (such as
shop reports) at the time AIRBUS or its agent/representative carries out an inspection/audit, and if the Customer cannot provide the relevant original copies, the Customer shall have a period of ten (10) Business Days from notification by
AIRBUS or its agent/representative, to remedy the situation to the satisfaction of AIRBUS. Should the above not be solved within the relevant timeframe, such FHS Components shall be subject to a recertification process for which AIRBUS shall invoice
the Customer as Additional Work. 
 The Customer shall produce an exhaustive and certified (with stamp, date, name and signature), list of
part numbers, serial numbers, date of entrance and quantity of parts available in the OSS. Such report shall be sent on a quarterly basis to the FHS On Site Assistance Representative. 

Should a discrepancy occur between the above report and the original stock level the Customer shall have ten (10) days to further
investigate the gaps and to provide AIRBUS with an outcome of the situation. AIRBUS shall thereafter be entitled to invoice such OSS replenishment to the Customer. 

4.3.2 Warehousing management system 

The Customer shall demonstrate the implementation of a system to perform root cause analysis, corrective actions, preventive actions, and
reporting for any non-conformity raised by AIRBUS or discovered through the Customer’s own self-monitoring system. 
  

	4.4	Major incident investigation 

 The Customer shall support AIRBUS with any investigation
connected to the analysis of such event. 
  

	4.5	OSS records keeping 

 The Customer shall keep all necessary documents to prove that all
requirements have been met for demonstrating the proper execution of the Service for the Term from the OSS Start Date unless otherwise required by an applicable regulation. The Customer shall protect records against damage, alteration, deterioration
and loss. 

  
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	4.6	Personnel 

 The Customer shall formally assign a single fully empowered and authorised person to
ensure interface with AIRBUS with regards to the Customer obligations under the Agreement. The Customer shall have personnel properly trained to perform inspection, handling and record keeping procedures. This applies to personnel performing the
function of supervisor, inspector, shipper and good receivers. Such personnel shall be knowledgeable of inspections techniques, methods and equipment used to determine FHS Components quality. The Customer’s inspection personnel shall have
received an appropriate authorisation to perform inspections of FHS Components. The Customer shall provide skills, competence matrices and training plans, upon AIRBUS request. 

The skills and competence matrix shall demonstrate that the Customer’s personnel is in particular knowledgeable and competent on: 

 

	 	•	 	Storage of aircraft parts 

  

	 	•	 	ATA 300 

  

	 	•	 	IATA basic dangerous goods handling (storage, special handling, packaging, labelling, shipping declaration) 

  

	 	•	 	National Regulation for explosive material handling 

  

	 	•	 	MSDS 

  

	 	•	 	Electrostatic discharge and sensitive item handling 

  

	 	•	 	Parts release documentation (EASA Form 1, FAA 8130-3 etc.) 

	 	•	 	Basic knowledge of EASA part 145 regulation relevant to acceptance of components, storage facilities, 

  

	 	•	 	Documents or data associated to a part (workshop report, maintenance data, life limits, ATA 106, etc.) 

  

	 	•	 	Quality Management System 

  

	 	•	 	Procedures relevant to the Services 

  

	 	•	 	AIRBUS IT system 

  
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	4.7	OSS incoming inspections 

 The Customer shall ensure that incoming inspections include at
least, a check for: 
  

	 	•	 	any obvious damage, 

  

	 	•	 	verification that all appropriate plugs and caps are installed, if applicable, 

  

	 	•	 	verification that part numbers, serial numbers, AD/SB status, etc., of the items match the attached documentation, 

  

	 	•	 	verification that the quantity, part numbers, AD/SB status, etc. match the order, 

  

	 	•	 	verification that required certification documents in the order are available, 

  

	 	•	 	verification of the conformity of packaging (ATA300/IPCC 15), 

  

	 	•	 	verification of remaining life on shelf life and life controlled parts when relevant, 

  

	 	•	 	verification that the MSDS is accompanying the part, if relevant. 

 The OSS incoming inspection
shall be recorded in a suitable manner, at least with result, date, inspector name, FHS Component identification and location, and the report shall be provided in writing to AIRBUS within seven (7) Business Days from the initial delivery of the
FHS Components to the Customer. If there is an unsatisfactory inspection, the Customer shall store the rejected unit in the quarantine area and report in writing to AIRBUS, within seven (7) Business Days from delivery of the FHS Components to
the Customer, the nature of any discrepancy. After such seven (7) Business Days, the inspection shall be deemed to be completed. 
  

	4.8	OSS outgoing inspection and part delivery 

 The Customer shall ensure that outgoing inspections
include at least, but not limited to: 
  

	 	•	 	a check for any obvious damage, 

  

	 	•	 	verification that part numbers, serial numbers, etc., of the items being shipped match the accompanying documentation, 

  

	 	•	 	verification that documents related to an Unserviceable FHS Components (post flight report, unserviceable tag, life limited status etc.) are included in the shipping documents, 

 

	 	•	 	verification that packing slips contain all information required, 

  

	 	•	 	verification that all appropriate plugs and caps are installed, 

  
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	 	•	 	verification that the shipping container and packing are appropriate for the items being shipped, 

  

	 	•	 	verification that the MSDS is included in the shipping documents, 

  

	 	•	 	verification that all appropriate required documentation is properly completed and signed. 

  

	4.9	Storage location and insurance 

 4.9.1 Storage and packing 

The Customer shall store FHS Components in a secured store and in a clean, well- maintained facility.
The Customer shall control the storage location with restricted access giving access only to authorized personnel such as warehouse staff, AIRBUS or its agents/representatives. The Customer shall ensure recording of staff accessing in the storage
location by means such as badges or entry log sign on/off. The Customer shall store FHS Components in a segregated area exclusively reserved for FHS Components. The Customer shall clearly identify FHS Components with the inscription
“AIRBUS”. 
 The segregated working areas shall include a: 

 

	 	•	 	Quality inspection area 

  

	 	•	 	Segregated stock storage location 

  

	 	•	 	Dispatch area 

  

	 	•	 	Packaging Area 

  

	 	•	 	Segregated quarantine area 

  

	 	•	 	Segregated Unserviceable area 

  

	 	•	 	Dangerous goods area 

  

	 	•	 	Electrostatic discharge and sensitive item handling. 

 The Customer shall store all FHS
Components with their associated documentation and shall keep FHS Components, in the manufacturer’s original packaging whenever possible. The Customer shall store, preserve and protect FHS Components from applicable regulations and ATA 300
specification to prevent stored items deterioration and damage. 
 The Customer shall not overcrowd and stack heavy and/or fragile
materials. The Customer shall have adequate equipment that will preclude damage of the FHS Components (shelves, pallet racks and forklift, tyre racks, anti-electrostatic devices etc.) adapted to quantity, volume and characteristics of the FHS
Components. The Customer shall comply with wood packaging as per IPPC15/ISPM15 measures when relevant. 

  
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 The Customer shall keep all packing containers, frames and other packing material in a good and
reusable condition. The Customer shall ensure the procurement and availability in stock of packaging materials (containers, carton boxes and protection materials). 

4.9.2 Environmental conditions 

The Customer shall maintain the FHS Components at temperature in the range 15°-25° Celsius and humidity below 65% relative (standard
climate 20 / 65 DIN 50014 or ISO 554). The Customer shall measure, control and record continuously the temperature and the relative humidity. The Customer shall immediately take the appropriate recovery action in case of environmental conditions
deviation and shall immediately inform AIRBUS of any deviation from environmental standard conditions. 
 4.9.3 Hazardous materials

 The Customer shall store any hazardous material in compliance with the local and legal requirements an hazardous material. The Customer
shall handle hazardous material in accordance with the MSDS. The Customer shall ensure compliance of each item with dangerous good transportation rules (ICAO Doc 9284 / IATA DGR) before any shipment. 

4.9.4 Insurance 
  

	 	(i)	All local regulations pertaining to the storage and handling of FHS Components, including those relating to insurance and fire prevention, shall be followed at all times. The storage location is exclusively reserved for
storing and protecting the OSS in accordance with best airline practice and applicable regulations regarding the storage of items of the same type as the OSS. The Customer shall not, save for sending any item to AIRBUS pursuant to this Agreement,
part with possession or control of the OSS or any item forming part thereof or allow the same to become subject to any security interest or other encumbrance in favour of any other person. 

 

	 	(ii)	The Customer shall maintain the OSS in accordance with the provisions of Clause 8 of the Agreement and the Customer agrees that it shall not operate, maintain, insure or deal with any FHS Components of the OSS in a
manner which discriminates against the OSS (or any part thereof), when compared with the manner in which Customer operates, maintains, insures or deals with similar aircraft, engines or parts in its fleet. 

 

	 	(iii)	The Customer shall promptly notify AIRBUS of any loss or damage of any or all FHS Components from the OSS whilst under its management or of any event which is likely to result in an insurance claim in relation to the
OSS (or any part thereof). 

  
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	 	(iv)	The Customer shall at its own expense procure and maintain in full force and effect throughout the term of this Agreement appropriate insurance policies covering all the OSS for the full current replacement value of all
the FHS Components listed in Attachment 1 to this Appendix B-1; in accordance with Clause 16 of this Agreement. 

  

	 	(v)	If at any time during the term of this Agreement, the Storage Location is not owned by the Customer and is leased from a third party, the Customer shall advise AIRBUS of the name and address of the owner or proprietor
of such facilities or if any change of the owner or proprietor occurs. It shall be the responsibility of the Customer to notify said owner or proprietor of the Owner’s right of ownership, and any Financing Party’s rights and interests, in
and to the OSS. 

  

	5.	Purchase Option 

 [*****] 

[*****] 
 [*****]

  

	6.	Modifying the Composition of the On Site Stock 

 Upon either Party’s request,
the Parties agree to review the content of the OSS inventory and may agree to amend the Attachment 1 to this Appendix 1, subject to terms and conditions to be mutually agreed. 

Subject to the Customer not being in default of any of its obligations under the Agreement, AIRBUS shall receive such revision requests in
writing. Thereafter the terms shall be mutually agreed by the Parties before implementation and shall be based upon but not limited to the following parameters: 
  

	 	i)	Time on which the changes are required, and/or 

  

	 	ii)	Time remaining until the Agreement is due to terminate, and/or 

  

	 	iii)	Service Fees amendments and/or 

  
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	 	iv)	Quantity of FHS Component PN subject to change (added and/or removed from the FHS scope), and/or 

  

	 	v)	Quantity of FHS Component serial numbers subject to change (added and/or removed from the On-Site Stock, and/or 

  

	 	vi)	FHS Component subject to change being specific or not to the Customer’s fleet, and/or 

  

	 	vii)	Price of each FHS Component subject to the amendment, 

  

	 	[**]	[*****] 

  

	7.	Purchase or return of the On Site Stock 

  

	7.1	[*****] 

  

	 	[**]	[*****] 

  

	 	[**]	[*****] 

  

	7.2	[*****] 

  

	7.3	[*****] 

  
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 [*****] 

[*****] 
  

	8.	Direct Shipment process 

 The Direct Shipment (D/S) process is to manage the
shipment of the entire scope of unserviceable FHS Components directly from the Main Base to relevant repair stations (“Direct Shipment Process” or “D/S”). In order to manage the Direct Shipment operations, improve the global flow
of unserviceable FHS Components and ultimately increase the Service Level, AIRBUS shall assist the Customer in the following tasks: 
  

	8.1	Spares physical flow segregation 

  

	 	•	 	Ensure and improve the monitoring of the CURT, 

  

	 	•	 	FHS Components flow segregation and 

  

	 	•	 	Consolidation avoidance. 

  

	8.2	Quality assessment 

  

	 	•	 	Visual inspection of unserviceable FHS Components and packaging (paperwork, photos,...), 

  

	 	•	 	Validation of reason for removal, ensure presence of supporting documents (PFR, T/S data, U/S tag: avoidance of snags at repair stations and potential NFF charges) and 

 

	 	•	 	Record digital images to eradicate potential contentious issues. 

  

	8.3	Shipment preparation of unserviceable parts to repair stations 

  

	 	•	 	Release of the logistics documentation (Repair Order, Delivery Note) and 

  

	 	•	 	Interface between the Customer and AIRBUS transport provider. 

  

	8.4	Performance continuous improvement 

  

	 	•	 	Customer direct local support. 

  
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 Attachment 1 – On Site Stock List 

This Attachment 1 is composed of the following one hundred fifty one (151) part numbers. 

 

															
	 Item
	  	 PNR
	  	 ATA
	  	 OEM
	  	 ADT
	  	 SPARE

PRICE
	  	 [*****]
	  	 [*****]

	 [*****]
	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]

  
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 [*****] 

  
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 APPENDIX B-2 – STANDARD EXCHANGE POOL ACCESS 

 

	1.	Pool Description 

 The Pool is composed of the FHS Components listed in Attachment
1 of this Appendix B-2. 
  

	2.	Pool access 

  

	2.1	The Customer shall be entitled to access the Pool through a Standard Exchange system according to which the Customer may replace any specific defective FHS Component or any FHS Components subject to scheduled
maintenance tasks. In both cases, such FHS Component shall be removed from the Aircraft and exchanged with a similar FHS Component (new or serviceable) made available from the Pool. 

 

	2.2	To access the Pool and take delivery of the requested FHS Component, the Customer must place a Standard Exchange Order with AIRBUS, in accordance with Clause 5.3 of this Agreement and in accordance with the form to be
agreed between the Parties in the Interface Manual. 

  

	2.3	The Customer hereby acknowledges that the right of access to the Pool described here above shall not be exclusive to the Customer. 

  

	2.4	The Start Date of the Pool Access Service shall be September 1st 2016 (the “Pool Access Service Start Date”). 

  

	3.	AIRBUS’ obligations 

  

	3.1	Pool Management 

 AIRBUS shall be responsible for managing and maintaining the Pool and in
compliance with the relevant OEM recommendations. This configuration management shall cover the interchangeability of FHS Components (full fit, form and function class). 

Notwithstanding the above, AIRBUS is allowed to subcontract (eg through an Airbus procurement contract) to any third party, including to the
Customer, the logistics activity (warehousing and local transportation) related to the Pool. 
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 [*****] 

For sake of clarity, AIRBUS shall be allowed to send and return the FHS Components from/between its pools, in addition to the pool located in
Brazil. 
  

	3.2	Conditions of FHS Components 

  

	 	i)	all of the FHS Components in the Pool will be supplied with their relevant certificate as per Clause 8.2.2 of the Agreement. 

  

	 	ii)	FHS Components delivered from the Pool are covered by the provisions of Clause 9 of the Agreement. 

  

	3.3	[*****] 

  

	3.5	[*****] 

 [*****] 

 

	4.	Customer’s obligation related to return of the removed Unserviceable FHS Components 

  

	 	[**]	[*****] 

 [**] [*****] 

 

	 	[**]	[*****] 

  
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	 	[**]	[*****] 

  

	 	[**]	[*****] 

  

	 	[**]	[*****] 

  

	 	[**]	[*****] 

  

	 	[**]	[*****] 

 [*****] 
  

	 	[**]	[*****] 

  

	 	[**]	[*****] 

  

	 	[**]	[*****] 

  

	 	[**]	[*****] 

  
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	5.	Information and documents due from the Customer to AIRBUS 

  

	5.1	As applicable, the Customer shall provide AIRBUS with the following data, document or information related to the Unserviceable FHS Components in relation to the Standard Exchange Order in the FHS Portal, before the
Unserviceable FHS Components are returned to AIRBUS: 

  

	 	a.	The Time Since New (TSN), Cycles Since New (CSN), Time and Cycles Since Installation (TSI, CSI), Time Since Overhaul (TSO), Cycles Since Overhaul (CSO) for life limited LRUs upon installation on the Aircraft, Time Since
Last Shop Visit (TSLSV), 

  

	 	b.	The Aircraft (specify the MSN or Aircraft registration) from which the FHS Components have been removed, and 

  

	 	c.	The part number, the serial number and the description (the name) of the installed FHS Components and of the relevant Unserviceable FHS Components, and 

 

	 	d.	The detailed and complete reason for removal and removal date of the Unserviceable FHS Components. Except for a limited number of cases of the appreciation of AIRBUS, any statement such as “broken”,
“failed”, “inoperative” or “Unserviceable” is insufficient and not acceptable by AIRBUS.     If the Customer fails to delivery such detailed reason of removal on the repair order, but for some reason
provides the data described on the Clause 5.2.IV it will be considered, on an exceptional basis, as enough information to AIRBUS to perform the repair. 

In the event that any of the above documents or information is considered incomplete or missing, AIRBUS will notify the Customer of such omission. The
Customer will have live (5) Business Days to provide AIRBUS with the compliant documentation and information. 
  

	5.2	Any Unserviceable FHS Components delivered by the Customer to AIRBUS shall be duly accompanied by the following mandatory information or document: 

 

	 	i)	The reference of the corresponding Standard Exchange Order, and 

  

	 	ii)	The unserviceable tag bearing the following information: the part number, the serial number and the description of the relevant Unserviceable FHS Component, and 

 

	 	iii)	The Aircraft (specify the MSN or Aircraft registration) from which the FHS Component has been removed and 

  

	 	iv)	Any supporting data, as per Airbus NFF policy, to ease trouble shooting and failure identification, such as but not limited to: 

  

	 	-	Pilot Report (Pirep) when necessary and/or upon AIRBUS request, and/or 

  
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	 	-	Maintenance report (Marep), and 

  

	 	-	Post flight report (PFR), as applicable, and 

  

	 	-	BITE test results or trouble shooting data (TSD) print out, as applicable, 

  

	 	-	Trouble Shooting Manual (TSM) task reference, and 

  

	 	-	Technical logbook of the Unserviceable FHS Components if applicable, and other relevant data if applicable, and 

  

	 	v)	The time and cycles since new (TSN, CSN), time and cycles since installation (TSI, CSI), time and cycles since overhaul (TSO, CSO) for life limited LRUs, and 

 

	 	vi)	back-to-birth history documentation for life limited FHS Components, or documentation from last overhaul for time-controlled FHS Components, and 

 

	 	vii)	If necessary, any additional instructions and the required modifications. 

  

	6.	Specific exclusion 

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 Attachment 1 – FHS Components covered by the Pool Access Service 

The Pool Access Service shall cover the following 399 part numbers 
  

									
	Item	  	PNR	  	ATA	  	OEM	  	ADT
	 [*****]
	  	[*****]	  	 [*****]
	  	[*****]	  	[*****]

  
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 APPENDIX B-3 – FHS COMPONENTS MAINTENANCE AND ENGINEERING 

 

	1.	Definition of FHS Components maintenance 

 Any FHS Component listed in Attachment 1 to Appendix
B-2 that are removed from the Aircraft, and received by AIRBUS for maintenance, shall be maintained by AIRBUS or its subcontractors in compliance with the terms and conditions herein. 

They shall be referred to as Unserviceable FHS Components when removed from the Aircraft by the Customer and delivered to AIRBUS for repair. The Customer
undertakes to deliver to AIRBUS any and all Unserviceable FHS Components for repair pursuant to the provisions of this Agreement. 
 Within the scope of
this Agreement and associated Services as set forth in this Appendix B-3, AIRBUS will if applicable test, repair, overhaul and modify FHS Components with the aim to restore them in serviceable condition. 

 

	2.	Scope of maintenance Service 

  

	2.1	Basic scope of services 

 Upon receipt by AIRBUS of any Unserviceable FHS Component together with the documents
indicated in Clause 5.2 of Appendix B-2, AIRBUS will perform the tests, repairs, modifications and overhauls if applicable on the Unserviceable FHS Components in compliance with CMM and/or Airbus MPD and
the provisions of Clause 8.2.2 of the Agreement. 
  

	2.1.1	FHS Components maintenance shop reports 

 AIRBUS will make available to the Customer, and when necessary to the
Customer’s relevant official authorities, shop finding reports and FHS Component monitoring reports for FHS Components supplied by AIRBUS as Standard Exchange. 
  

	2.1.2	FHS Components back to birth records 

 AIRBUS will manage and make available to the Customer, and when necessary
to the Customer’s Airworthiness Authorities, FHS Components back to birth records whenever applicable to such FHS Components, and provided the Customer has supplied AIRBUS with the necessary information together with the first removal of FHS
Components from the Aircraft. 
  

	2.2	ADs/SB’s policy 

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[*****][*****] 

  
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 [*****][*****] 

[*****][*****] 
 [*****][*****] 

[*****] 
 [*****] 

[*****] 
 [*****] 

[*****] 
  

	3.	Reliability engineering services 

 AIRBUS shall perform a control and follow up of the Aircraft
and FHS Component reliability (such as MTBUR follow-up with threshold and report the analysis of in-service data to the Customer. Any deviation compared to the world fleet, best standard, will be analysed. The results will be shared with the
Customer every six months, including recommendations and 

  
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reporting on appropriate actions launched, recorded, required by any Party, including but not limited to: 
  

	 	i)	FHS Components modification approval sheet(s) management (submissions, approvals, norias) 

  

	 	ii)	FHS Components reliability trends, 

  

	 	iii)	Rogue LRUs identification, 

  

	 	iv)	Soft life policy deployment, 

  

	 	v)	NFF rates, 

  

	 	vi)	FHS Components interchangeability management, 

  

	 	vii)	BER occurrences. 

  

	4.	[*****] 

 [*****] 

[*****][*****] 
 [*****][*****] 

[*****] 
 [*****] 

 

	5.	[*****] 

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 [*****] 
  

	6.	Customer’s specific obligation 

 In order for AIRBUS to perform its obligations, the Customer
shall provide AIRBUS with certain necessary data such as but not limited to: warranty claim, information and any other applicable documentation required for conducting the repairs, such as but not limited to removal information, reason of removal,
post flight report (PFR), BITE test report (if applicable). 

  
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 APPENDIX B-4 – FHS MANAGER ON SITE ASSISTANCE 

 

	1.	In order to support and coordinate the Services under the Agreement, AIRBUS shall make available on site assistance for the Initial Period and at the Customer’s Main Base, starting one (1) month before
the Start Date of the Services, subject to the terms and conditions of this Appendix B-4 (the “FHS Manager On Site Assistance”). 

Such assistance shall be in accordance with standard working hours during Business Days, as well as normal statutory vacation periods under
AIRBUS’ applicable regulations. 
 For the sake of clarity, the Customer acknowledges and agrees that AIRBUS shall be entitled, at any
time during the Term of the Agreement, to subcontract to any third party the FHS Manager On Site Assistance. 
  

	2.	In providing the FHS Manager On Site Assistance, any of AIRBUS or if applicable the AIRBUS’ subcontractor’s employees, are deemed to be acting in an advisory capacity only and at no time shall they be
deemed to be acting as Customer’s employees or agents, either directly or indirectly. 

 Should the Customer request the
FHS Manager On Site Assistance to exceed the period defined in Clause 1 here above, AIRBUS may provide such Additional Services subject to terms and conditions to be mutually agreed. 

 

	3.	General conditions 

  

	3.1	From the date of each arrival of the FHS Manager and for the duration of the assignment, the Customer shall provide free of charge a suitable lockable office, conveniently located with respect to the Customer’s
maintenance facilities, with complete office furniture and equipment including telephone, Internet, email and facsimile connections for the sole use of the FHS Manager. All related communication costs shall be borne by AIRBUS upon receipt by AIRBUS
of all relevant justifications, however the Customer shall not impose on AIRBUS any charges other than the direct cost of such communications. 

  

	3.2	Should the Customer request the FHS Manager to travel on business to a city other than the Main Base, the Customer shall be responsible for all related transportation and accommodation costs and expenses.

  

	3.3	The Customer shall assist AIRBUS and the AIRBUS’ subcontractors, as applicable, in obtaining from the civil authorities of the Customer’s country those documents that are necessary to permit each FHS Manager
to live and work in the Customer’s country. Failure of AIRBUS to obtain the necessary documents shall relieve AIRBUS of any obligation to the Customer under the provisions of this Appendix B-4. 

 

	3.4	The Customer shall reimburse to AIRBUS all charges, taxes, duties, imposts or levies of any kind whatsoever, imposed by the authorities of the Customer’s country with respect to the FHS Manager. 

  
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	3.5	AIRBUS shall ensure that the FHS Manager, when located at the premises of the Customer, shall comply with any applicable regulations of the Customer, including but not limited to health, safety, security, IT security,
environment and regulations applicable within the Customer’s premises. 

  

	3.6	The FHS Manager shall in all circumstances remain under the sole managerial and disciplinary authority of AIRBUS or if applicable the AIRBUS’ subcontractor, which shall be solely responsible for the administrative
and social management of the FHS Manager. 

  

	4.	Withdrawal of FHS Manager 

 AIRBUS shall have the right to withdraw its assigned FHS Manager(s) as
it sees fit if conditions arise, which are in the opinion of AIRBUS dangerous to their safety or health or prevent them from fulfilling their contractual tasks. 

  
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 APPENDIX C-1 – SERVICE FEES DEFINITION 

[*****] 
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	Airbus FHS Agreement — [*****]	 	Page 96 of 117	  	[*****]

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	Airbus FHS Agreement — [*****]	 	Page 98 of 117	  	[*****]

 APPENDIX D – SERVICE LEVEL 

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	Airbus FHS Agreement — [*****]	 	Page 103 of 117	  	[*****]

 APPENDIX E-1 – WARRANTIES DELEGATION 

Azul Linhas Aéreas Brasileiras S.A. 
 Avenida
Marcos Penteado de Ulhôa Rodrigues 
 n° 939 Edificio Castelo Branco Office Park 

Torre Jatobá Tamboré 
 Alphaville Industrial Barueri
SP 
 06460-040 Brazil, 
  

					
		 		 	 AIRBUS SAS
 1, rond-point Maurice Bellonte

31707 Blabnac Cedex, France
  

For the attention of FHS Dept
 Customer Delivery Services

 
 [Date], 20_

 Dear [Name], 
 Supplier
Support Conditions - Delegation to Airbus SAS 
 We have entered into an FHS contract with Airbus SAS for the provision of services for the test, repair,
overhaul and supply, loan and/or standard exchange of aircraft parts in respect of our A320 NEO Aircraft fleet (the “Contract”). 
 In the frame
of such Contract and for as long as the FHS contract with Airbus SAS is valid, we have designated Airbus SAS (“Airbus”) to perform on our behalf all activities linked to the management of aircraft parts covered by the Contract (including
provision, repair, warranty/guarantee claims, etc.) and therefore we have delegated to Airbus the power to enforce on our behalf the totality of the provisions of the Supplier Support Conditions (“SSCs”) which we benefit from
vis-à-vis the relevant OEMs to the fullest extent as agreed between Airbus and each such OEM. 
 We acknowledge that, as we have delegated our right
to enforce the terms of the SSCs, we will not seek to enforce our rights vis-á-vis the relevant OEMs in respect of the relevant parts for which such delegation is provided to Airbus in the event a claim has already been made or a right has
already been enforced by Airbus on our behalf. 
 Finally, we acknowledge that Airbus may provide a copy of this letter to the relevant OEMs for the
purposes of confirming Airbus’s authority to enforce on our behalf all our rights and obligations under the SSCs for the relevant parts. 
 This letter
shall not operate as a novation of any rights and obligations under the SSCs from us to Airbus. 
 Yours Sincerely, 

[Name and Title] 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Airbus FHS Agreement — [*****]	 	Page 104 of 117	  	[*****]

 APPENDIX E-2 – ADDITIONAL WORK PURCHASE ORDER 

 

			
	 ADDITIONAL WORK PURCHASE

ORDER
	  	 For
  

FHS Agreement [*****]

PO Number

Issue

Dated

 Title: 

Description: 

Lead Time: 
 Price per Aircraft

 US DOLLARS: 
 AT DELIVERY CONDITIONS: 

Terms and conditions: all the provisions of the FHS contract [*****] shall apply to this Purchase Order for Additional Work. 

In witness thereof this Additional Work Purchase Order has been executed in duplicate by a duly authorised representative of each one of the Parties hereto.

 Each Party acknowledges receipt of its own original copy in English. 
  

			
	For and on behalf of	  	For and on behalf of
	Airbus SAS	  	Azul Linhas Aéreas Brasileiras S.A.
		
	By:	  	By:
		
	Date:	  	Date:

  
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redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Airbus FHS Agreement — [*****]	 	Page 105 of 117	  	[*****]

 APPENDIX E-3 – FORM OF FINANCING PARTY QUIET ENJOYMENT LETTER 

To: 
 Azul Linhas Aéreas Brasileiras S.A (the
“Customer”) 
 Avenida Marcos Penteado de Ulhôa Rodrigues 

n°939 Edificio Castelo Branco Office Park 
 Torre
Jatobá Tamboré 
 Alphaville Industrial Barueri 

SP 06460-040 Brazil, 
 From: 

[Financing Party] (the “Financing Party”) 
 Dear Sirs

 FHS Agreement dated                  2016
made between the Customer and Airbus SAS (“AIRBUS”) in relation to Flight Hour Services for certain Airbus A320 NEO aircraft (the “FHS Agreement”) and a Security Agreement dated
                 made between AIRBUS and the Financing Party relating to the FHS Agreement (the “Security Agreement”) and a notice
and acknowledgement of assignment dated                  given by the Financing Party and AIRBUS to the Customer (the “Notice and
Acknowledgement”). 
 We refer to the FHS Agreement, the Security Agreement and the Notice and Acknowledgement. We hereby covenant and agree with you
that, provided that no event or circumstance of the type referred to in Clause 18.3 (Termination for Customer default) of the FHS Agreement occurs and is continuing, we shall not (and we shall procure that no person claiming by or through us shall)
interfere with your use, quiet enjoyment and possession of the property which is the subject matter of the FHS Agreement. 
 This Letter shall be governed
by English law. 
  

	
	Yours faithfully
	
	   

	[Financing Party]

  

  
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	Airbus FHS Agreement — [*****]	 	Page 106 of 117	  	[*****]

 APPENDIX E-4 – FHS MODIFICATION APPROVAL SHEET FORM 

— 
  
 

 

  
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	Airbus FHS Agreement — [*****]	 	Page 107 of 117	  	[*****]

 APPENDIX F – BUY-BACK 

This Appendix F sets out the terms and conditions under which the Customer shall sell to AIRBUS some LRUs and tools (for the purposes of this Appendix,
together referred to as the “Items”) and AIRBUS shall purchase such Items, currently being the property of the Customer (the “Buy-Back”). 

Capitalized terms used herein and not otherwise defined in this Appendix F shall have the meanings assigned thereto in the Agreement. 

DEFINITIONS 
 “Assessment” 

Means the inventory assessment performed by AIRBUS or its agent at the Customer’s premises, at any time prior to the Buy-Back Date, and as further
specified in Clause 2.1.1 of Appendix F. 
 “Complementary Non Buy-Back Items” 

Means the items purchased by AIRBUS from a third party in the case that following the Inspection, those items are not part of the Final Buy-Back Items, as
specified in Clause 2.1.5 of Appendix F. 
 “Final Buy-Back Amount” 

Means the amount to be paid by AIRBUS for the Buy-Back in the event that the list of Items is modified following the Inspection, and as further specified in
Clause 5.1.2 of Appendix F. 
 “Final Buy-Back Items” 

Means the final list of items as modified by AIRBUS following the Assessment or the Inspection and as further specified in Clause 2.1.4 of Appendix F and
being manufactured in 2016, new and in serviceable conditions. 
 “Initial Buy-Back Amount” 

Means the amount to be paid by AIRBUS to the Customer for the Buy-Back and as further specified in Clause 5.1.1 of Appendix F. 

“Initial Buy-Back Items” 
 Means the Items to be
purchased by AIRBUS in the frame of the Buy-Back and listed in the Attachment 1 to Appendix F. 
 “Initial Buy-Back Items List” 

Means the list of Items identified by the Customer for the Buy-Back and identified in Attachment 1 to Appendix F. 

“Inspection” 
 Means the inventory inspection performed
by AIRBUS or its agent of the Buy-Back Items. 
 “Non Buy-Back Items” 

Has the meaning set forth in Appendix F. 

  
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	Airbus FHS Agreement — [*****]	 	Page 108 of 117	  	[*****]

 “Remaining Buy-Back Items” 

Means the items that have not been purchased by AIRBUS in the frame of the Buy-Back and has the meaning set out in the Clause 3.2 of Appendix
F. 
 1. GENERAL 
 The Customer shall sell to
AIRBUS and AIRBUS shall purchase certain Items listed in Attachment 1 to this Appendix F (the “Initial Buy-Back Items”), under the terms and conditions as detailed hereafter. 

The Customer hereby declares that it has performed an inspection in good faith of all the Initial BuyBack Items and established accordingly the list of
Initial Buy-Back Items as set out in Attachment 1 to this Appendix F (the “Initial Buy-Back Items List”). 
 For the sake of clarity, the terms of
the Agreement shall apply to this Appendix, unless otherwise specified herein. 
 2. ASSESSMENT AND INSPECTION 

 

	2.1	Assessment and Inspection at Customer’s premises 

  

	2.1.1	AIRBUS or its agent, shall be entitled to assess the Initial Buy-Back Items at the Customer’s premises, at any time prior to the Buy-Back Date (the “Assessment”) at its own costs and expense.

  

	2.1.2	The Parties acknowledge that a portion of the Initial Buy-Back Items, which shall be listed and notified in writing by the Customer to AIRBUS on or before the Assessment date, may not be available in the Customer’s
warehouse at the time of Assessment, as some of these Buy-Back Items may be in transit or undergoing a repair in another location. Such Buy-Back Items as well as all the other Buy-Back Items shall be subject to an inspection to be performed by
AIRBUS or its agent (the “Inspection”). 

  

	2.1.3	AIRBUS or its agent shall be granted access to the Customer’s facilities and the Customer shall keep all the Buy-Back Items in a segregated and secured area with restricted access to AIRBUS or its agent.

	

	2.1.4	Following the Assessment and/or the Inspection, AIRBUS shall be entitled to modify the Initial Buy-Back Items List and replace it by a revised and final list of items to be actually purchased by AIRBUS (the “Final
Buy-Back items”). The Final Buy-Back Items must be located by the Customer at the Main Base prior to such purchase by AIRBUS. 

  

	2.1.5	In this event, AIRBUS shall be entitled to purchase from a third party, similar items to the Initial Buy-Back Items which are not part of the Final Buy-Back Items (the “Complementary Non Buy-Back Items”).

  
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	Airbus FHS Agreement — [*****]	 	Page 109 of 117	  	[*****]

	2.2	Indemnification related to the performance of the Assessment and the Inspection 

 The provisions of Clause 15.1
of the Agreement shall apply to the performance of the Assessment and to the performance of the Inspection. 
  

	2.3	Customer quality obligations 

  

	2.3.1	The Customer must comply with the following obligations: 

  

	 	a)	The Customer shall have good, valid, legal and marketable title to the Buy-Back Items and shall deliver to AIRBUS title to the Items free and clear of any and all encumbrances and claims; 

 

	 	b)	All Buy-Back Items shall be in serviceable condition and shall not be subject to technical obsolescence, due to a change of design or arising from change due to any applicable Airworthiness Authority requirement
including but not limited to an Airworthiness Directive or national regulation requirement; 

  

	 	c)	Any LRU subject to the Buy-Back shall have been upgraded to a standard compliant with the Aircraft configuration at the time of Entry Into Force of the Agreement. Should the LRU not be compliant with the above, the
costs associated to the required upgrade of such LRU shall be borne by the Customer; 

  

	 	d)	The Customer shall provide a written statement, as applicable, which represents that for any Buy-Back Item: 

  

	 	i.	The Customer owns legal title of property of such Buy-Back Item; 

  

	 	ii.	Buy-Back Item has been stored, preserved and protected in accordance with the OEM’s instructions; 

  

	 	iii.	Buy-Back Item has been packed in accordance with the recommendations of the OEM, applicable regulations and ATA 300 specifications for LRUs. 

Should the Customer fail to comply with its obligations under the provisions of Clause 2.3.1 d), the Customer hereby agrees to indemnify and
hold harmless AIRBUS from and against all consequences in connection with such failure. 
  

	 	e)	Any new LRU subject to the Buy-Back shall be delivered to AIRBUS with an OEM Authorized Release Certificate (ARC): 

  

	 	•	 	In one of the following formats: 

  

	 	•	 	An original or copy from the originator of the ARC when signed with a hand written signature, or 

  
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	Airbus FHS Agreement — [*****]	 	Page 110 of 117	  	[*****]

	 	•	 	Any electronically printed copy of the ARC with watermark-type “printed from electronic File” and “Electronic signature on File” in signature block when signed electronically, or 

 

	 	•	 	A certified true copy from original of ARC for splitting bulk or batch shipments. 

  

	 	•	 	Issued under the Airworthiness Authority which controls the OEM, and 

  

	 	•	 	Issued by the OEM as referenced in the manufacturer’s parts catalogue or other applicable maintenance data (i.e. SB, CMMV). 

  

	 	f)	Any used LRU subject to the Buy-Back shall: 

  

	 	•	 	Be released by an EASA Part 145 approved maintenance organization and accompanied by an ARC in the form of: 

  

	 	•	 	EASA Form 1; or 

  

	 	•	 	FAA Form 8130-3 dual release; or 

  

	 	•	 	TCCA Form 240078 dual release; or 

  

	 	•	 	TCCA Form 1 dual release. 

  

	 	•	 	Be delivered with an ARC in one of the following formats: 

  

	 	•	 	An original or copy from the originator of the ARC when signed with a hand written signature, or 

  

	 	•	 	Any electronically printed copy of ARC with watermark-type “printed from electronic File” and “Electronic signature on File” in signature block when signed electronically. 

 

	 	•	 	Have been maintained by a maintenance organization approved by AIRBUS; the list of which will be provided by AIRBUS to the Customer in due time. 

 

	 	•	 	Be delivered with the workshop report associated to the ARC including at least: 

  

	 	i)	Origin of the LRU (aircraft type, aircraft serial number, operator), and 

  

	 	ii)	Part number and serial number of the LRU, and 

  

	 	iii)	Confirmed defect, and 

  
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	Airbus FHS Agreement — [*****]	 	Page 111 of 117	  	[*****]

	 	iv)	List of replaced parts, and 

  

	 	v)	Details of work carried out, and 

  

	 	vi)	List of all embodied modifications, including Airworthiness Directives and SBs, and 

  

	 	vii)	Next due maintenance when applicable, and 

  

	 	viii)	Reference and revision of applied maintenance data. 

  

	 	•	 	Be delivered with a written statement, as applicable, which guarantees that: 

  

	 	i)	The used LRU has not been subject to DER repairs and does not contain PMA parts; and 

  

	 	ii)	The used LRU has not been involved in any accident and/or incident; and 

  

	 	iii)	The used LRU has not been used on a non-civil certified aircraft; and 

  

	 	iv)	The used LRU is traceable to the aircraft on which it was installed before maintenance and maintenance organization having performed maintenance works. 

With reference to i) to iv) above, the information may be provided by the Customer to AIRBUS with a ATA106 form, or any acceptable format agreed by both
Parties. 
  

	 	g)	Any new or used LRU subject to the Buy-Back: 

  

	 	•	 	Shall be delivered to AIRBUS with an ARC that has not been issued more than three (3) years before the Buy-Back Date; 

  

	 	•	 	For those subject to service life limits (including LLP having to be retired once the certified life limit is reached and hard time LRUs (I-IT) for which the serviceability has to be restored once the certified life
limit is reached): 

  

	 	•	 	Shall be delivered with historical documentation including at least the following information: 

  

	 	•	 	Time, Flight Hours and Cycles since new, and 

  

	 	•	 	Time, Flight Hours and Cycles since last inspection, and 

  

	 	•	 	Time, Flight hours and Cycles since last overhaul. 

  
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	Airbus FHS Agreement — [*****]	 	Page 112 of 117	  	[*****]

	 	•	 	Shall be delivered with no less than seventy percent (70%) of remaining service life until the next scheduled overhaul. 

  

	 	•	 	And subject to shelf life limits, shall be delivered by the Customer to AIRBUS with no less than ninety (90) Days of remaining service life. 

[*****][*****] 
 [*****][*****] 

[*****][*****] 
 [*****][*****] 

 

	3.	BUY-BACK DATE 

  

	3.1	The Parties agree that the Buy-Back of the Final Buy-Back Items shall occur and be finalized not later than six (6) months after the Entry Into Force (the “Buy-Back Date”). 

 

	3.2	In the event that the Buy-Back of the Final Buy-Back Items has not occurred in whole or in part at the Buy-Back Date, the Parties will agree in good faith on a new date to finalize the Buy-Back for such remaining Items
(the “Remaining Buy-Back Items”). 

  

	3.3	If the Parties fail to agree on such new date within ten (10) Days after the Buy-Back Date, the Parties shall have no right or obligation whatsoever with respect to the Buy-Back of such Remaining Buy-Back Items and
AIRBUS shall be entitled to purchase from third parties said Remaining Buy-Back Items. 

  

	3.4	On the Buy-Back Date, AIRBUS shall issue a purchase order for the Final Buy-Back Items or upon agreement of the Parties on the new date for the Buy-Back of the Remaining Buy-Back Items. 

 

	4.	DELIVERY 

  

	4.1	Delivery process 

  
 [*****] Confidential material
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	Airbus FHS Agreement — [*****]	 	Page 113 of 117	  	[*****]

 The Customer shall deliver from the Main Base the Final Buy-Back Items or, if relevant, the
Remaining Buy-Back Items to AIRBUS, or its designated representative, and then issue a corresponding delivery note (the “Buy-Back Delivery Note”). AIRBUS or its designated representative shall sign the Buy-Back Delivery Note to acknowledge
the actual delivery of the Final Buy-Back Items including the Remaining Buy-Back Items, if relevant. 
  

	4.2	Incoterms 

 Applicable freight terms are the Incoterms defined in Clause 6 of the FHS Agreement.

  

	4.3	Delivery conditions: 

 At the time of delivery of the Buy-Back Items by the Customer to AIRBUS,
the Customer shall comply with its obligations as defined in Clause 2.3 of this Appendix F. 
  

	4.4	Transfer of title 

 Title to each Final Buy-Back Item or Remaining Buy-Back Item shall be
transferred to AIRBUS upon the acceptance without any discrepancy and the signature of a “Serviceable LRU” type receipt form (the “Receipt Form” or “RF”) by AIRBUS or its designated representative. 

 

	4.5	Transfer of risk 

 Risk of loss or damage to each Final Buy-Back Item including the Remaining
Buy-Back Item, if relevant, shall pass from the Customer to AIRBUS upon the acceptance without any discrepancy and the signature of the Receipt Form by AIRBUS or its designated representative. 

 

	4.6	[*****] 

 [*****] 

 

	5.	BUY-BACK PRICE AND SPECIFIC PAYMENT TERMS 

  

	5.1	Buy-Back price 

 [*****][*****] 

[*****][*****] 

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Airbus FHS Agreement — [*****]	 	Page 114 of 117	  	[*****]

 [*****][*****] 

[*****][*****] 
 [*****][*****] 

[*****][*****] 
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 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Airbus FHS Agreement — [*****]	 	Page 115 of 117	  	[*****]

 Attachment 1 – Initial Buy-Back Items List 

 

													
	 Item
	  	 PNR
	  	 ATA
	  	 OEM
	  	 ADT
	  	 [*****]
	  	 [*****]

	 [*****]
	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Airbus FHS Agreement — [*****]	 	Page 116 of 117	  	[*****]

 APPENDIX G – FHS COMPONENTS WITH EXTENDED WARRANTY negotiated by the Customer
with OEMs 
  

									
	 PNR
	  	 ATA
	  	 OEM
	  	 ADT
	  	 AZUL warranty

	 [*****]
	  	[*****]	  	[*****]	  	[*****]	  	[*****]

  
 [*****] Confidential material
redacted and filed separately with the Securities and Exchange Commission. 

  

					
	Airbus FHS Agreement — [*****]	 	Page 117 of 117	  	[*****]EX-10.12

 Exhibit 10.12 

CONFIDENTIAL TREATMENT REQUESTED—REDACTED COPY 

Confidential Treatment has been requested for portions of this Exhibit. Confidential 

portions of this Exhibit are designated by [*****]. A complete version of this Exhibit has 

been filed separately with the Securities and Exchange Commission. 

AMENDMENT NUMBER 19 
 TO

 OnPointsm Overhaul 

RATE PER FLIGHT HOUR 

ENGINE SERVICES AGREEMENT 

BETWEEN 
 GE Engine
Services, LLC 
 GE CELMA LTDA. 

AND 
 AZUL LINHAS
AÉREAS BRASILEIRAS S.A. 
 Agreement Number 1-1373258434-AM19 

Dated: Mar 31, 2017 

PROPRIETARY INFORMATION NOTICE 
 The
information contained in this document is GE Engine Services, LLC (“GE”) Proprietary Information and is disclosed in confidence. It is the property of GE and will not be used disclosed to others or reproduced without the express
written consent of GE. If consent is given for reproduction in whole or in part, this notice and the notice set forth on each page of this document will appear in any such reproduction. U.S. export control laws may also control the information
contained in this document. Unauthorized export or re-export is prohibited. 

  

 AMENDMENT NUMBER 19 

THIS AMENDMENT Number 19 (“Amendment”) is entered into by and between Azul Linhas Aéreas Brasileiras S.A. (“Azul” or
“Customer”), GE Engine Services, LLC (“GEES”) and GE Celma Ltda. (“GE Celma”), GEES and GE Celma are jointly referred as “GE”, (each a “Party” and collectively
referred to herein as “Parties”). 
 RECITALS 

WHEREAS, the Parties have entered into an OnPointsm Engine Services Agreement dated 25 September 2009, as
amended and supplemented from time to time (“Agreement”) whereby GE has agreed to provide the Services in exchange for payments to be made by Customer to GE Celma pursuant to the terms of the OnPoint Agreement; and 

WHEREAS, the Parties want to change the term of the Agreement, along with other terms and conditions according to the provisions of this Amendment; 

WHEREAS, the Parties want to include in the Covered Services of Article 3.1 services to meet certain Redelivery Conditions, as per the terms of this
Amendment; 
 WHEREAS, the Parties agree on the transfer of [*****] Engines to Portugalia – Companhia Portuguesa de Transportes Aéreos, S.A.
(“PGA”) without the application of the provisions of Article 11 of the Agreement; 
 WHEREAS, the Parties agree that such Engines will continue to
be covered by the Agreement and [*****] will pay [*****] for its portion of the Services; 
 WHEREAS, the Parties agree to amend Article 5 of the Agreement
to replace section 5.1 Rates per EFH considering the Redelivery Conditions included as per this Amendment; 
 Capitalized terms used, and terms otherwise
defined in this Amendment shall have the meaning assigned to them under the Agreement. 
 NOW THEREFORE, in consideration of the foregoing premises and of
the mutual covenants and conditions contained herein, and other good and valuable consideration, receipt and sufficiency of which are acknowledged and agreed, the Parties hereto agree as follows: 

 

	1.	Section 2.1 shall be entirely replaced as follows: 

 “2.1 Term. Each Party’s
obligation to perform will commence upon September 25, 2009 (the “Commencement Date”) and such obligation will continue, unless sooner terminated, according to the end dates defined for each engine in Exhibit P for the current leased
fleet and [*****] engine for the owned fleet, from date of Engine delivery to Customer, or [*****], whichever occurs first (the “Term”). Parties may renew or extend this Agreement upon mutual agreement prior to the end of the initial
Term.” 
  

	2.	Item “I” below shall be added to Article 3.1 (“Covered Services”) of the Agreement: 

[*****] Confidential material redacted and filed separately with the Securities and Exchange Commision 

  
 2 

 I. Comply with Redelivery Conditions (“Redelivery Conditions”) for certain Engines as follows:

 Redelivery Conditions: 
 Each
Engine shall have the Engine Flight Hours and Engine Flight Cycles remaining to its next expected Engine Performance Restoration as noted in Exhibit P. 

Following the completion of the acceptance flight pursuant to a Lease aircraft redelivery, GE acknowledges that a complete video borescope
inspection of all accessible stages in the engine is required, which may be performed by GE OWS [*****]. If a finding through the borescope inspection results in an unserviceable condition as per the AMM and that finding is required to be fixed
through a shop visit, GE will perform services to resolve the condition and ensure the engine meets expected lease return conditions as noted in Exhibit P, and the Engine will meet performance and operating temperature limitations evidenced by full
takeoff power assurance runs. 
 No Engine (and no module thereof) shall be (i) “on watch” or subject to special or reduced
inspection intervals that would cause the engine not to meet Redelivery Conditions or (ii) exhibit any adverse trends or indicate a rate of acceleration in performance deterioration that is higher than normal based on Manufacturer’s
experience, GE and Customer will work to troubleshoot any discrepant condition. 
 Each Engine’s life remaining to its next expected
Engine Performance Restoration shall be determined using the Engine Manufacturer’s published data, the environment and operating parameters in which the Engine has been operated, [*****], the period remaining to the incorporation of any
Airworthiness Directives issued by the Regulatory Authority or alert (or equivalent) Service Bulletins issued by Engine Manufacturer which would require the splitting of any of that Engine’s modules, and that Engine’s EGT margin, Hour to
Cycle ratio, power assurance run results, borescope findings and trend data. 
  

	3.	Effective [*****] Rates per EFH in Article 5.1 of the Agreement, and its amendments (including, but not limited to amendments 4, 8, 9, 10 and 18), shall be entirely replaced by the table below: 

 

											
	 Fleet (as per Exhibit Q)
	  	 New Rates

(Popular/Restored)
	  	 Rate as of 9/1/2018

(Popular/Restored)
	  	Rates as of 1/1/2020
(Popular/Restored)	  	Rates as of 1/1/2021
(Popular/Restored)	  	Escalation Cap
						
	 Rate-1

(Main Fleet)
	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]
						
	 Rate-2

(GECAS)
	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]
						
	 Rate-3

(TAP Fleet)
	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]

 All rates listed above are in 2017 USD and shall be escalated based on the escalation formula listed in the Agreement, subject
to the Escalation Cap shown above. 
 [*****] Confidential material redacted and filed separately with the Securities and Exchange Commision 

  
 3 

	4.	Item “f” below shall be added to Section 6.2 as follows: 

 “f.
Additionally, the EFH minimum calculation shall not be applied to the following situations, as follows: 
  

	 	(i)	for engines listed in Exhibit P, for the period of ninety [*****] as defined per each engine in the same Exhibit P; 

  

	 	(ii)	for each Transferred Engine as listed in Item 7 and for the Subleased Engines as defined in Amendment 18 to the Agreement, for the period [*****] 

 

	 	(iii)	for engines installed in Aircraft undergoing any heavy airframe maintenance check of 15000 hours or more, [*****]. 

  

	5.	Article 11.4 (i) of the Agreement shall be entirely deleted. 

  

	6.	GE agrees, on an exceptional basis, to waive reconciliation fees in connection with the removal of [*****] , which took place in [*****] . 

 

	7.	[*****] agrees to Issue [*****] to cover for LPT Case BSI Program invoices already issued and not paid. [*****] also agrees to [*****] for the “BSI Screen Workscope” as defined in the [*****] Workscope
Planning Guide as of the date of this Amendment. For the avoidance of doubt, provisions of Article 11— Removal of Engines continue to apply. 

  

	8.	Parties agree to develop and maintain an engine Removal Schedule per the terms defined in Article 7.1.b of the Agreement. If the engines are removed per the mutually agreed Removal Schedule, GE shall make best efforts
to induct the engine within [*****] days following receipt of the engine at the DRS. If the engine is not inducted in [*****] days, Turn Time, as defined in Article 3.7, shall commence [*****] days following receipt of the engine at the DRS.

  

	9.	GE agrees on the transfer by Customer to its affiliated company PGA of additional [*****], totaling [*****] , covered by the Agreement, as per the list below (the “Transferred Engines”) for the remaining
duration of the Agreement, without applying the provisions of Article 11 of the Agreement. It is further agreed that Customer, PGA and GE will enter into an agreement to allow for [*****] 

 

			
	 AIRCRAFT S/N
	 	 ORIGINAL ENGINE S/Ns

	 [*****]
	 	[*****]
	 [*****]
	 	[*****]
	 [*****]
	 	[*****]
	 [*****]
	 	[*****]

 [*****] Confidential material redacted and filed separately with the Securities and Exchange Commision 

  
 4 

	10.	The Parties agree that the Transferred Engines, as listed in Item 9 of this Amendment, can be operated by Customer or by PGA, without any prior authorization from GE, provided that in any case Customer shall
continue to be entirely responsible for all obligations and payments related to the Transferred Engines. For the avoidance of doubt, Customer is fully responsible for transportation of Equipment to and from PGA. 

 

	11.	The Parties agree that invoices for Services in connection to Transferred Engines shall be 

 i.
[*****]; or 
 ii. [*****]; or 

iii. [*****] 
 In that regard,
[*****] , will notify [*****] no less than [*****] before invoice date, as per Article 6 of the Agreement, [*****] If [*****] fails to produce such a notification in time, [*****] will invoice [*****]. For the avoidance of doubt, Customer will
continue to be solely and entirely responsible for all obligations and payments in connection with the Agreement. 
  

	12.	The Parties understand and recognize that all Services shall continue to be performed at [*****], as per the terms of the Agreement. 

All other terms and conditions contained in the Agreement, which are not modified by this Amendment, shall remain in full force and effect. 

This Amendment shall be effective as of the date hereof. 

[*****] Confidential material redacted and filed separately with the Securities and Exchange Commision 

  
 5 

 IN WITNESS WHEREOF, GE and Customer have caused this Amendment to be signed in duplicate by their duly authorized
officials as of the date written below. Those officials represent to each other and to the Parties that each is unequivocally authorized to execute this Amendment and serves in the capacity indicated below. 

 

			
	 GE Celma Ltda. 
	 	Azul Linhas Aéreas Brasileiras S.A.
		
	 By: /s/ Julio C. Tacon     /s/ Renato Vidal
	 	 By: /s/ John Peter Rodgerson

	 Printed Name: Julio C. Tacon     Renato Vidal
	 	 Printed Name: John Peter Rodgerson

	 Title: General Manager     Operations Manager 
	 	 Title: Attorney-in-Fact

		
	 GE Engine Services, LLC 
	 	
		
	 By: /s/ Nathan Hoering
	 	
	 Printed Name: Nathan Hoering
	 	
	 Title: RES Customer Programs Leader
	 	

  
 6 

 EXHIBIT P 
  

																			
	 REGISTRATION
	  	 AIRCRAFT
S/N
	  	ESN	  	LESSOR	  	Agreement	  	Birthday	  	Contract
end Date	  	REDELIVERY CONDITION
	  	  	  	  	  	  	  	FC	  	FH	  	LLP
	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]

 [*****] Confidential material redacted and filed separately with the Securities and Exchange
Commission 

  
 P-1 

																			
	 REGISTRATION
	  	 AIRCRAFT
S/N
	  	ESN	  	LESSOR	  	Agreement	  	Birthday	  	Contract
end Date	  	REDELIVERY CONDITION
	  	  	  	  	  	  	  	FC	  	FH	  	LLP
	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]	  	[*****]

 [*****] Confidential material redacted and filed separately with the Securities and Exchange
Commission 

  
 P-2 

 EXHIBIT Q— List of engines by fleet type 

 

							
	 REGISTRATION
	  	AIRCRAFT
S/N	  	ESN	  	Fleet
	[*****]	  	[*****]	  	[*****]	  	[*****]

 [*****] Confidential material redacted and filed separately with the Securities and Exchange Commission 

  
 Q-1 

							
	 REGISTRATION
	  	AIRCRAFT
S/N	  	ESN	  	Fleet
	[*****]	  	[*****]	  	[*****]	  	[*****]

 [*****] Confidential material redacted and filed separately with the Securities and Exchange
Commission 

  
 Q-2 

							
	 REGISTRATION
	  	AIRCRAFT
S/N	  	ESN	  	Fleet
	[*****]	  	[*****]	  	[*****]	  	[*****]

 [*****] Confidential material redacted and filed separately with the Securities and Exchange
Commission 

  
 Q-3 

							
	 REGISTRATION
	  	AIRCRAFT
S/N	  	ESN	  	Fleet
	[*****]	  	[*****]	  	[*****]	  	[*****]

 [*****] Confidential material redacted and filed separately with the Securities and Exchange
Commission 

  
 Q-4 

							
	 REGISTRATION
	  	AIRCRAFT
S/N	  	ESN	  	Fleet
	[*****]	  	[*****]	  	[*****]	  	[*****]

							
	 REGISTRATION
	  	AIRCRAFT
S/N	  	ESN	  	Fleet
	[*****]	  	[*****]	  	[*****]	  	[*****]

 [*****] Confidential material redacted and filed separately with the Securities and Exchange
Commission 

  
 Q-5 

							
	 REGISTRATION
	  	AIRCRAFT
5/N	  	ESN	  	Fleet
	[*****]	  	[*****]	  	[*****]	  	[*****]

 [*****] Confidential material redacted and filed separately with the Securities and Exchange
Commission 

  
 Q-6

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