Azul Reports Strong November Operating Metrics Amid Ongoing Chapter 11 Restructuring

Azul SA ( (AZULQ) ) just unveiled an update.

On December 29, 2025, Azul S.A. reported to the U.S. Bankruptcy Court for the Southern District of New York its unaudited monthly operating information for the period from November 1 to November 30, 2025, as part of its ongoing voluntary Chapter 11 restructuring process. The company also released preliminary, unaudited consolidated financial figures for the same period to keep the market updated on its performance, reporting total operating revenue of R$1.82 billion, adjusted EBITDA of R$621.8 million with a 34.2% margin, operating income of R$392.1 million with a 21.6% margin, and cash, cash equivalents and short-term investments of R$1.35 billion, alongside accounts receivable of R$3.75 billion. Azul stressed that these results, adjusted for non-recurring restructuring items, are prepared solely to meet Chapter 11 requirements and are not directly comparable with its regular financial statements, while reaffirming that it will continue to publish audited quarterly and annual results and to maintain regular communication with shareholders, customers, employees, and other stakeholders throughout the restructuring.

The most recent analyst rating on (AZULQ) stock is a Sell with a $0.18 price target. To see the full list of analyst forecasts on Azul SA stock, see the AZULQ Stock Forecast page.

Spark’s Take on AZULQ Stock

According to Spark, TipRanks’ AI Analyst, AZULQ is a Underperform.

The score is primarily held down by weak financial quality: persistent losses alongside very high leverage and negative equity create elevated solvency risk, despite revenue recovery and positive operating cash flow. Technicals further pressure the score, with the stock in a steep downtrend and bearish momentum. Valuation is constrained by negative earnings and the absence of a dividend yield.

To see Spark’s full report on AZULQ stock, click here.

More about Azul SA

Azul S.A. is Brazil’s largest airline by number of cities served, operating more than 800 daily flights to 137 destinations with an operational fleet of about 200 aircraft and a network of 250 direct routes. The carrier, which employs over 14,000 crew members, focuses on extensive domestic connectivity and has been recognized for its operational performance, including being named the world’s second most punctual airline in 2023 by aviation data firm Cirium and winning TripAdvisor’s 2020 Traveller’s Choice Award as the best airline in the world.

Average Trading Volume: 381,041

Technical Sentiment Signal: Strong Sell

Current Market Cap: $416.7B

See more data about AZULQ stock on TipRanks’ Stock Analysis page.