Azul S.A., "Azul", (B3:AZUL4, NYSE:AZUL), in accordance with CVM instruction 358, announces to the market the approval of the repurchase of up to 700,000 preferred shares issued by the Company during an Extraordinary Shareholders' Meeting held on July 5, 2017, as described in Annex I. The shares will be used to comply with the Restricted Share Units Plan, approved by the Company's Extraordinary Shareholders' Meeting held on June 30, 2014, and with any other long-term incentive plans approved by Shareholders' Meetings of the Company. The repurchase of shares will take place over a period of 18 months, starting on July 5, 2017 and ending on January 5, 2019.