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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.						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
Canela 336 LLC						USA
Azul Saira LLC						USA
Azul Secured Finance LLP						USA
Azul Secured Finance II LLP (a)						USA
ATSVP — Viagens Portugal, Unipessoal LDA						Portugal
Azul IP Cayman Holdco Ltd.						Cayman Islands
Azul IP Cayman Ltd.						Cayman Islands
Azul Cargo IP Cayman Ltd. (b)						Cayman Islands
Azul Cargo IP Cayman Holdco Ltd. (b)						Cayman Islands

(a)Formed on September 17, 2024.

(b)Non-operational entities that were incorporated in September 2024.