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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 Saíra LLC

USA

Azul Secured Finance LLP (a)

USA

ATSVP - Viagens Portugal, Unipessoal LDA. (b)

Portugal

Azul IP Cayman Holdco Ltd. (c)

Cayman Islands

Azul IP Cayman Ltd. (c)

Cayman Islands

Azul Secured Finance 2 LLP (d)

USA

Azul Finance 3 LLC (e)

USA

(a)    Subsidiary incorporated in May 2023

(b)    Subsidiary acquired in March 2023.

(c)    Subsidiary incorporated in June 2023.

(d)    Subsidiary incorporated in September 2024.

(e)    Subsidiary incorporated in February 2026.