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Exhibit 8.1

Subsidiaries of Azul S.A.

The following chart lists each of our subsidiaries which we owned, directly or indirectly, as of the date of this annual report:

Entities						Country of incorporation
Azul Linhas Aéreas Brasileiras S.A. (ALAB)						Brazil
IntelAzul S.A. (formerly Tudo Azul S.A.)						Brazil
Azul Conecta Ltda. (formerly TwoTaxi Aéreo Ltda.)						Brazil
ATS Viagens e Turismo Ltda.						Brazil
Cruzeiro Participações S.A						Brazil
Azul Investments LLP						USA
Azul SOL LLC						USA
Azul Finance LLC						USA
Azul Finance 2 LLC						USA
Blue Sabiá LLC						USA
Canela Investments LLC						USA
Canela Turbo Three LLC						USA
Azul Saíra LLC						USA
Azul Secured Finance (a)						USA
ATSVP — Viagens Portugal, Unipessoal LDA (b)						Portugal
Azul IP Cayman Holdco Ltd. (c)						Cayman Islands
Azul IP Cayman Ltd. (c)						Cayman Islands

(a)Subsidiary incorporated in May 2023

(b)Subsidiary acquired in March 2023.

(c)Subsidiary incorporated in June 2023.

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