Azul Appoints John Rodgerson as CEO and Alex Malfitani as CFO

São Paulo, July 24, 2017 - Azul S.A., "Azul", (B3: AZUL4, NYSE: AZUL) is pleased to announce the appointment of John Rodgerson as Chief Executive Officer (CEO) and Alex Malfitani as Chief Financial Officer (CFO), effective immediately.

Rodgerson joined Azul in 2008 as one of its founders and was instrumental in the implementation of its successful business plan. As CFO, he was responsible for many accomplishments, including raising capital for the airline over the past nine years, culminating in the Company's Initial Public Offering last April. Prior to joining Azul, Rodgerson held an executive position at JetBlue Airways.

Antonoaldo Neves, who has been the president of Azul Linhas Aéreas and Corporate Officer of Azul S.A. since 2014 is leaving the airline to become a member of the board of directors of TAP. With more than 15 years of experience in aviation and infrastructure business, Antonoaldo led the integration process of Azul and TRIP when he was still a Partner at McKinsey and was very engaged in leading Azul over the past three years.

"John is one of the founders of Azul and is extremely well-qualified to assume the position of CEO," said David Neeleman, founder and Chairman of Azul. "He has played a key role in creating our low-cost culture and in raising the necessary resources to build this great airline. As CEO, he will be responsible for maintaining our focus on being one of the most efficient airlines in the world while providing exceptional customer service founded on a strong corporate culture."

"On behalf of the board, we thank Antonoaldo for his leadership over the last three and half years," stated Neeleman. We wish him all the best in his new endeavor at TAP".

Alex Malfitani will be replacing Rodgerson as Chief Financial Officer. Malfitani also joined Azul in 2008 as one of the airline's founding members. He has been the head of Azul's loyalty program, TudoAzul, since 2015 and prior to that he held the position of treasurer and finance director. Before joining Azul, Malfitani worked from 2003 to 2008 at United Airlines in Chicago, and occupied the position of managing director of treasury. Before that, he worked for five years in the finance industry, including as fund manager at Deutsche Bank and trader at Credit Agricole Indosuez. Malfitani will serve as head of TudoAzul on an interim basis until a replacement is found.

"I am also very pleased to announce Alex Malfitani's well deserved promotion to CFO. He has a proven record of success as a member of Azul's management team, most recently leading TudoAzul to become the fastest-growing and best-voted loyalty program in Brazil," said Neeleman.

"I am extremely confident that our leadership team will continue to deliver the growth and results for our stakeholders and I will continue to be just as intimately involved in the day-to-day business and strategic decisions of Azul, concludes Neeleman."