Azul

We are the largest airline in Brazil in terms of departures and cities served, with 784 daily departures serving 101 destinations, creating an unparalleled network of 203 non-stop routes as of December 31, 2016. As the sole airline on 70% of our routes, we are the leading airline in 66 Brazilian cities in terms of departures and carried approximately 21 million passengers in 2016. We are a low cost carrier and have generated a PRASK premium of at least 35% relative to our main competitor since our first year of operations. We derive this PRASK premium from our network, optimized fleet, operating efficiencies and high quality product offering. Complementing our extensive domestic network, we fly to select international destinations, including Fort Lauderdale, Orlando, and Lisbon. We wholly own our loyalty program TudoAzul, a strategic revenue-generating asset, which had 7.0 million members as of December 31, 2016.