<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0607</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2026-04-20</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001432364</issuerCik>
        <issuerName>AZUL SA</issuerName>
        <issuerTradingSymbol>AZUL</issuerTradingSymbol>
        <issuerForeignTradingSymbol>AZUL3</issuerForeignTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002119103</rptOwnerCik>
            <rptOwnerName>Garcia Antonio Carlos</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>true</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>AV. MARCOS PENTEADO DE ULHOA RODRIGUES,</rptOwnerStreet1>
            <rptOwnerStreet2>8TH FLOOR, TAMBORE</rptOwnerStreet2>
            <rptOwnerCity>SAO PAULO</rptOwnerCity>
            <rptOwnerNonUSStateTerritory>SAO PAULO</rptOwnerNonUSStateTerritory>
            <rptOwnerCountry>D5</rptOwnerCountry>
            <rptOwnerZipCode>06460-040</rptOwnerZipCode>
            <rptOwnerStateDescription>BRAZIL</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks>Exhibit 24 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ Antonio Carlos Garcia</signatureName>
        <signatureDate>2026-04-28</signatureDate>
    </ownerSignature>
</ownershipDocument>