📄 What This Document Is

This is a Form 6-K, a regular report that foreign companies listed in the U.S. must file with the SEC. It's used to share important news that could affect investors. In this case, it's a "Material Fact" announcement—a direct update to the market about a significant change at the company.

👉 In simple terms: Azul is telling its shareholders and the public, "We have a major change in our leadership team."

🏢 What The Company Does

Azul S.A. is Brazil's largest airline by the number of cities it flies to. Imagine an airline that connects not just the big coastal cities, but also dozens of smaller towns across Brazil's vast interior.

They operate over 800 daily flights, use a fleet of more than 180 aircraft, and employ over 14,000 crewmembers. In 2020, they were named the best airline in the world by TripAdvisor.

🚀 The Key Move: A Leadership Change

The big news is a change at the very top of the company's financial team.

• Resignation: Alexandre Wagner Malfitani (Alex Malfitani), the co-founder and Chief Financial Officer (CFO), is resigning. His last day is April 20, 2026.
• Appointment: Antonio Carlos Garcia (Antonio Garcia) will become the new CFO and Investor Relations Officer, also effective April 20, 2026, pending board approval.

This isn't just any HR update. The CFO is the company's chief money manager, and the Investor Relations Officer is the key link to shareholders. Changing both roles at once is a major event.

👤 Who's Leaving & Who's Joining

The Departing CFO (Alex Malfitani): He isn't just an employee; he's a co-founder of Azul. CEO John Rodgerson credits him with being "instrumental" in building the company's financial foundation. His departure marks the end of an era for the airline he helped create.

The Incoming CFO (Antonio Garcia): He comes with a strong resume in global industrial and aviation finance:

• Most recently spent over 6 years at Embraer (the major Brazilian aircraft manufacturer) as Executive VP of Finance.
• Held senior finance roles at German industrial giants ThyssenKrupp and Siemens.
• Holds an accounting degree and an MBA from PUC-SP, plus an executive program certificate from Harvard Business School.

👉 Why it matters: The company is bringing in a seasoned expert with deep ties to its key partner, Embraer, right as it enters a new chapter.

⏱️ The Transition Plan

The filing states that Antonio Garcia and Alex Malfitani will begin a transition period starting on April 20th. This is a best practice to ensure a smooth handover of duties, knowledge, and key relationships with banks and investors. Azul promised to keep the market informed of any further news.

💡 Why This Matters

Leadership transitions, especially at the CFO level, are critical moments for any public company. They can affect:

• Investor Confidence: A smooth transition maintains trust. A sudden one can create uncertainty.
• Strategic Direction: The new CFO's experience at Embraer signals a potential deepening of that crucial partnership and a focus on financial strategy post-restructuring.
• Execution Risk: Any change carries execution risk, but hiring someone with Garcia's global background is meant to mitigate it.

The CEO's statement frames this as a positive step for the "new Azul" after a "successful restructuring," indicating the company believes it's now on a stronger footing.

🧠 The Analogy

Think of this like a championship soccer team changing its star goalie and team captain right after winning a major tournament. The founder (the old goalie) is leaving on a high note, and the team is bringing in a veteran defender (the new captain) known for their experience in big European leagues to lead them into the next season. The move is bold and signals a new strategic phase.

🧩 Final Takeaway

Azul is executing a significant, planned leadership change at its financial helm, moving from a co-founder to a highly experienced external executive. This transition aims to guide the airline into its next phase of growth following a recent restructuring.