v3.26.1
Consolidated Statements of Cash Flows - BRL (R$)
R$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Profit (loss) for the period R$ 4,619,726 R$ 3,121,616
Result reconciliation items    
Depreciation and amortization 1,401,490 1,578,014
Derivative financial instruments, net (14,402) (860,716)
Share-based incentive 80,885 70,515
Foreign currency exchange, net (1,434,586) (4,552,541)
Financial result 1,522,201 3,484,225
Fair value adjustment on conversion into shares 5,090,093 0
Renegotiations – financial - Chapter 11 (856,970) 0
Renegotiations – operational - Chapter 11 (1,589,798) 0
Provisions, net 196,117 84,627
Recovery of expenses and write‑offs of assets and liabilities 0 0
Result from modification of lease and provision (103,859) (1,292,971)
Result in the write-off of property and equipment, intangible assets and lease 231,495 40,971
Deferred income tax and social contribution (7,515,404) 0
Result of sale and sale and leaseback (5,136) (32,900)
Reconciled result 1,621,852 1,640,840
Changes in operating assets and liabilities    
Accounts receivable 511,961 21,254
Inventories (117,655) (56,976)
Deposits (73,675) (274,359)
Taxes recoverable (30,144) (4,007)
Derivative financial instruments, net 11,849 (46,821)
Other assets (64,086) (202,241)
Accounts payable (1,467,275) (495,234)
Airport taxes and fees (48,237) 104,532
Air traffic liability, services and loyalty program (34,017) 371,553
Salaries and social charges 25,473 106,866
Taxes payable 19,133 (49,036)
Provisions (312,967) (307,871)
Other liabilities (2,210) (97,535)
Total changes in operating assets and liabilities (1,581,850) (929,875)
Interest paid    
Loans and financing (96,769) (437,078)
Leases (92,479) (256,379)
Convertible debt instruments 0 (175,219)
Others (187,615) (223,686)
Interest paid, classified as operating activities (376,863) (1,092,362)
Net cash provided by operating activities (336,861) (381,397)
Cash flows from investing activities    
Short-term investments 26,663 (22,380)
Cash received on sale of property and equipment 0 7,270
Sale and leaseback 151,609 30,699
Acquisition of property and equipment (140,851) (34,721)
Acquisition of capitalized maintenance (131,465) (119,619)
Acquisition of intangible assets (79,227) (47,391)
Net cash provided by investing activities (173,271) (186,142)
Loans and financing    
Funding 7,387,427 5,118,039
Payments (7,676,188) (2,118,346)
Costs (80,133) (390,166)
Leases (1,439,630) (1,729,422)
Cost of issuing shares 0 (43,048)
Capital increase 2,754,607 51,207
Advance for future capital increase 1,087 0
Treasury shares 148 (4)
Net cash generated by financing activities 947,318 888,260
Exchange rate changes on cash and cash equivalents (159,938) (71,954)
Increase in cash and cash equivalents 277,248 248,767
Cash and cash equivalents at the beginning of the period 991,644 1,210,009
Cash and cash equivalents at the end of the period R$ 1,268,892 R$ 1,458,776