v3.26.1
LOANS AND FINANCING - Schedule of Loans and Financing (Details)
R$ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
BRL (R$)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
BRL (R$)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
BRL (R$)
Sep. 30, 2025
Disclosure of detailed information about borrowings [line items]            
Balance in the beginning of the period | R$ R$ 14,981,417   R$ 9,698,912      
Funding (–) costs | R$ 15,617,701   4,072,859      
Transfers | R$ 38,576          
Debt into equity conversion | R$ (1,613,050)          
Payment of principal | R$ (5,854,411)   (1,723,166)      
Payment of interest | R$ (2,063,307)   (1,340,728)      
Interest incurred | R$ 2,791,669   1,399,094      
Foreign currency exchange | R$ (1,677,383)   2,749,867      
Effects of restructuring | R$ 115,674   10,671      
Amortized cost | R$ 722,718   113,908      
Balance at the end of the period | R$ 23,059,604   14,981,417   R$ 9,698,912  
Current | R$ 13,783,259   2,207,199   1,100,051  
Non-current | R$ 9,276,345   12,774,218   8,598,861  
Restructuring of debentures | R$ 542,438   R$ 0   199,635  
Costs of original fundraising | R$ 155,294          
Interest and fees | R$ R$ 9,635          
Effective interest rate 23.10% 23.10% 37.80% 37.80%    
Debentures            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a.           3.90%
United States of America, Dollars            
Disclosure of detailed information about borrowings [line items]            
Balance in the beginning of the period   $ 13,543,411   $ 8,713,825    
Funding (–) costs   14,912,944   2,547,403    
Transfers   0        
Debt into equity conversion   (1,613,050)        
Payment of principal   (5,046,889)   (581,276)    
Payment of interest   (1,923,498)   (1,179,020)    
Interest incurred   2,656,742   1,223,371    
Foreign currency exchange   (1,677,383)   2,749,867    
Effects of restructuring   125,309   (7,502)    
Amortized cost   715,762   76,743    
Balance at the end of the period   21,693,348   13,543,411    
United States of America, Dollars | Senior notes – 2026 | Jun-26            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 7.30%   7.30%      
Effective rate p.a. 7.80%   7.80%      
Balance in the beginning of the period   196,241   152,572    
Funding (–) costs   0   0    
Transfers   0        
Debt into equity conversion   0        
Payment of principal   0   0    
Payment of interest   0   (13,299)    
Interest incurred   12,815   12,998    
Foreign currency exchange   (22,119)   43,322    
Effects of restructuring   0   0    
Amortized cost   648   648    
Balance at the end of the period   187,585   196,241    
United States of America, Dollars | Senior notes – 2024 | Oct-24            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a.     5.90%      
Effective rate p.a.     6.30%      
Balance in the beginning of the period   0   332,099    
Funding (–) costs       0    
Payment of principal       (397,696)    
Payment of interest       (12,017)    
Interest incurred       17,121    
Foreign currency exchange       59,679    
Effects of restructuring       0    
Amortized cost       814    
Balance at the end of the period       0    
United States of America, Dollars | Senior notes – 2028 | Aug-28            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 11.90%   11.90%      
Effective rate p.a. 13.30%   13.30%      
Balance in the beginning of the period   6,196,281   3,922,731    
Funding (–) costs   0   905,219    
Transfers   0        
Debt into equity conversion   0        
Payment of principal   0   0    
Payment of interest   (555)   (620,516)    
Interest incurred   56,727   633,483    
Foreign currency exchange   (307,514)   1,325,488    
Effects of restructuring   (5,929,442)   (7,502)    
Amortized cost   3,762   37,378    
Balance at the end of the period   19,259   6,196,281    
United States of America, Dollars | Senior notes – 2029 | May-29            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 11.50%   11.50%      
Effective rate p.a. 11.50%   11.50%      
Balance in the beginning of the period   1,533,659   1,165,545    
Funding (–) costs   0   41,476    
Transfers   0        
Debt into equity conversion   0        
Payment of principal   0   0    
Payment of interest   (815)   (148,653)    
Interest incurred   15,635   149,819    
Foreign currency exchange   (75,894)   325,472    
Effects of restructuring   (1,443,339)   0    
Amortized cost   0   0    
Balance at the end of the period   29,246   1,533,659    
United States of America, Dollars | Senior notes – 2029 | May-30            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 10.90%          
Effective rate p.a. 10.90%          
Balance in the beginning of the period   3,649,185        
Funding (–) costs   0        
Transfers   0        
Debt into equity conversion   0        
Payment of principal   0        
Payment of interest   (5,096)        
Interest incurred   46,605        
Foreign currency exchange   (188,650)        
Effects of restructuring   (3,309,622)        
Amortized cost   0        
Balance at the end of the period   192,422   3,649,185    
United States of America, Dollars | Senior notes – 2030 | May-30            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a.     10.90%      
Effective rate p.a.     10.90%      
Balance in the beginning of the period   3,649,185   2,777,513    
Funding (–) costs       93,517    
Payment of principal       0    
Payment of interest       (335,174)    
Interest incurred       337,752    
Foreign currency exchange       775,577    
Effects of restructuring       0    
Amortized cost       0    
Balance at the end of the period       3,649,185    
United States of America, Dollars | Senior notes 1L due 2028 | Aug-28            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 11.90%          
Effective rate p.a. 11.90%          
Balance in the beginning of the period   0        
Funding (–) costs R$ 396,779 396,779        
Transfers   0        
Debt into equity conversion   0        
Payment of principal   (177,843)        
Payment of interest   (182,960)        
Interest incurred   639,724        
Foreign currency exchange   (411,731)        
Effects of restructuring   6,084,736        
Amortized cost   0        
Balance at the end of the period   6,348,705   0    
United States of America, Dollars | Senior notes 2L – 2029 | May-29            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 11.50%          
Effective rate p.a. 11.50%          
Balance in the beginning of the period   0        
Funding (–) costs   26,854        
Transfers   0        
Debt into equity conversion   (489,310)        
Payment of principal   (40,281)        
Payment of interest   (48,685)        
Interest incurred   104,196        
Foreign currency exchange   (62,713)        
Effects of restructuring   1,443,339        
Amortized cost   0        
Balance at the end of the period   933,400   0    
United States of America, Dollars | Senior notes 2L – 2030 | May-30            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 10.90%          
Effective rate p.a. 10.90%          
Balance in the beginning of the period   0        
Funding (–) costs   58,290        
Transfers   0        
Debt into equity conversion   (1,123,740)        
Payment of principal   (87,443)        
Payment of interest   (105,702)        
Interest incurred   226,289        
Foreign currency exchange   (143,940)        
Effects of restructuring   3,309,622        
Amortized cost   0        
Balance at the end of the period   2,133,376   0    
United States of America, Dollars | Bridge notes – 2025 | Jan-25            
Disclosure of detailed information about borrowings [line items]            
Effective rate p.a.     37.80%      
Balance in the beginning of the period   976,968   0    
Funding (–) costs       856,502    
Payment of principal       0    
Payment of interest       0    
Interest incurred       18,726    
Foreign currency exchange       65,215    
Effects of restructuring       0    
Amortized cost       36,525    
Balance at the end of the period       976,968    
United States of America, Dollars | Bridge notes – 2025 | Jan-25 | Bottom of range            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a.     8.30%      
United States of America, Dollars | Bridge notes – 2025 | Jan-25 | Top of range            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a.     10.70%      
United States of America, Dollars | Bridge notes            
Disclosure of detailed information about borrowings [line items]            
Balance in the beginning of the period   976,968        
Funding (–) costs   0        
Transfers   0        
Debt into equity conversion   0        
Payment of principal   (928,148)        
Payment of interest   (29,027)        
Interest incurred   11,087        
Foreign currency exchange   (47,925)        
Effects of restructuring   0        
Amortized cost   17,045        
Balance at the end of the period   0   976,968    
United States of America, Dollars | New bridge notes            
Disclosure of detailed information about borrowings [line items]            
Balance in the beginning of the period   0        
Funding (–) costs   555,314        
Transfers   0        
Debt into equity conversion   0        
Payment of principal   (620,453)        
Payment of interest   (29,534)        
Interest incurred   29,534        
Foreign currency exchange   (9,837)        
Effects of restructuring   0        
Amortized cost   74,976        
Balance at the end of the period   0   0    
United States of America, Dollars | DIP - 2026 | Feb-26            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 15.00%          
Effective rate p.a. 23.10%          
Balance in the beginning of the period   0        
Funding (–) costs   9,390,624        
Transfers   0        
Debt into equity conversion   0        
Payment of principal   0        
Payment of interest   (588,089)        
Interest incurred   589,039        
Foreign currency exchange   (95,266)        
Effects of restructuring   0        
Amortized cost   298,553        
Balance at the end of the period   9,594,861   0    
United States of America, Dollars | Superpriority notes            
Disclosure of detailed information about borrowings [line items]            
Balance in the beginning of the period   0        
Funding (–) costs   2,806,143        
Transfers   0        
Debt into equity conversion   0        
Payment of principal   (2,953,837)        
Payment of interest   (854,456)        
Interest incurred   856,189        
Foreign currency exchange   (169,228)        
Effects of restructuring   0        
Amortized cost   315,189        
Balance at the end of the period   0   0    
United States of America, Dollars | Aircraft, engines and others            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 0.00%          
Effective rate p.a. 0.00%          
Balance in the beginning of the period   0        
Funding (–) costs   103,136        
Transfers   (102,757)        
Debt into equity conversion   0        
Payment of principal   0        
Payment of interest   (840)        
Interest incurred   834        
Foreign currency exchange   (373)        
Effects of restructuring   0        
Amortized cost   0        
Balance at the end of the period   0   0    
United States of America, Dollars | Aircraft, engines and others | May-26            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 4.60%   4.60%      
Effective rate p.a. 8.50%   9.80%      
Balance in the beginning of the period   729,110   79,086    
Funding (–) costs   0   545,797    
Transfers   0        
Debt into equity conversion   0        
Payment of principal   0   0    
Payment of interest   (45,768)   (36,214)    
Interest incurred   43,311   40,895    
Foreign currency exchange   (80,289)   99,546    
Effects of restructuring   0   0    
Amortized cost   0   0    
Balance at the end of the period   646,364   729,110    
United States of America, Dollars | Aircraft, engines and others | Dec-27            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 2.60%          
Effective rate p.a. 10.00%          
Balance in the beginning of the period   116,145        
Funding (–) costs   284,671        
Transfers   0        
Debt into equity conversion   0        
Payment of principal   (137,561)        
Payment of interest   (42,547)        
Interest incurred   17,131        
Foreign currency exchange   (22,620)        
Effects of restructuring   0        
Amortized cost   5,111        
Balance at the end of the period   220,330   116,145    
United States of America, Dollars | Aircraft, engines and others | Jun-25            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 4.70%          
Effective rate p.a. 4.70%          
Balance in the beginning of the period   145,822        
Funding (–) costs   0        
Transfers   0        
Debt into equity conversion   0        
Payment of principal   (101,323)        
Payment of interest   10,576        
Interest incurred   7,626        
Foreign currency exchange   (21,500)        
Effects of restructuring   (29,985)        
Amortized cost   478        
Balance at the end of the period   11,694   145,822    
United States of America, Dollars | Aircraft, engines and others | Jun-27            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a.     2.60%      
Effective rate p.a.     11.30%      
Balance in the beginning of the period   116,145   0    
Funding (–) costs       104,892    
Payment of principal       0    
Payment of interest       (1,819)    
Interest incurred       2,616    
Foreign currency exchange       10,021    
Effects of restructuring       0    
Amortized cost       435    
Balance at the end of the period       116,145    
United States of America, Dollars | Aircraft, engines and others | Mar-29            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a.     4.90%      
Effective rate p.a.     5.90%      
Balance in the beginning of the period   145,822   284,279    
Funding (–) costs       0    
Payment of principal       (183,580)    
Payment of interest       (11,328)    
Interest incurred       9,961    
Foreign currency exchange       45,547    
Effects of restructuring       0    
Amortized cost       943    
Balance at the end of the period       145,822    
United States of America, Dollars | Executed letters of credit            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 0.00%          
Effective rate p.a. 0.00%          
Balance in the beginning of the period   0        
Funding (–) costs   1,291,133        
Transfers   102,757        
Debt into equity conversion   0        
Payment of principal   0        
Payment of interest   0        
Interest incurred   0        
Foreign currency exchange   (17,784)        
Effects of restructuring   0        
Amortized cost   0        
Balance at the end of the period   $ 1,376,106   $ 0    
Brazil, Brazil Real            
Disclosure of detailed information about borrowings [line items]            
Balance in the beginning of the period | R$ R$ 1,438,006   R$ 985,087      
Funding (–) costs | R$ 704,757   1,525,456      
Transfers | R$ 38,576          
Debt into equity conversion | R$ 0          
Payment of principal | R$ (807,522)   (1,141,890)      
Payment of interest | R$ (139,809)   (161,708)      
Interest incurred | R$ 134,927   175,723      
Foreign currency exchange | R$ 0   0      
Effects of restructuring | R$ (9,635)   18,173      
Amortized cost | R$ 6,956   37,165      
Balance at the end of the period | R$ 1,366,256   1,438,006   985,087  
Brazil, Brazil Real | Dec-28            
Disclosure of detailed information about borrowings [line items]            
Balance in the beginning of the period | R$     919,072      
Balance at the end of the period | R$         919,072  
Brazil, Brazil Real | May-25            
Disclosure of detailed information about borrowings [line items]            
Balance in the beginning of the period | R$     R$ 12,771      
Balance at the end of the period | R$         12,771  
Brazil, Brazil Real | Aircraft, engines and others | May-25            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a.     5.50%      
Effective rate p.a.     10.00%      
Balance in the beginning of the period | R$ 0          
Funding (–) costs | R$     R$ 0      
Payment of principal | R$     (7,039)      
Payment of interest | R$     (7,173)      
Interest incurred | R$     1,362      
Foreign currency exchange | R$     0      
Effects of restructuring | R$     0      
Amortized cost | R$     79      
Balance at the end of the period | R$     R$ 0      
Brazil, Brazil Real | Aircraft, engines and others | Mar-27            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a.     6.50%      
Effective rate p.a.     6.50%      
Balance in the beginning of the period | R$ R$ 3,509   R$ 23,596      
Funding (–) costs | R$     0      
Payment of principal | R$     (19,984)      
Payment of interest | R$     (936)      
Interest incurred | R$     833      
Foreign currency exchange | R$     0      
Effects of restructuring | R$     0      
Amortized cost | R$     0      
Balance at the end of the period | R$     3,509   23,596  
Brazil, Brazil Real | Executed letters of credit            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 0.00%          
Effective rate p.a. 0.00%          
Balance in the beginning of the period | R$ R$ 0          
Funding (–) costs | R$ 704,757          
Transfers | R$ 0          
Debt into equity conversion | R$ 0          
Payment of principal | R$ (35,215)          
Payment of interest | R$ 0          
Interest incurred | R$ 0          
Foreign currency exchange | R$ 0          
Effects of restructuring | R$ 0          
Amortized cost | R$ 0          
Balance at the end of the period | R$ 669,542   R$ 0      
Brazil, Brazil Real | Working capital | Jan-25            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a.     1.60%      
Effective rate p.a.     20.00%      
Balance in the beginning of the period | R$ R$ 592,639   R$ 29,648      
Funding (–) costs | R$     982,796      
Payment of principal | R$     (477,191)      
Payment of interest | R$     (9,811)      
Interest incurred | R$     44,118      
Foreign currency exchange | R$     0      
Effects of restructuring | R$     0      
Amortized cost | R$     23,079      
Balance at the end of the period | R$     592,639   R$ 29,648  
Brazil, Brazil Real | Debentures | Feb-31            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 4.00%          
Effective rate p.a. 18.80%          
Balance in the beginning of the period | R$ R$ 841,858          
Funding (–) costs | R$ 0          
Transfers | R$ 0          
Debt into equity conversion | R$ 0          
Payment of principal | R$ (210,379)          
Payment of interest | R$ (104,684)          
Interest incurred | R$ 134,564          
Foreign currency exchange | R$ 0          
Effects of restructuring | R$ (9,635)          
Amortized cost | R$ 6,749          
Balance at the end of the period | R$ 658,473   R$ 841,858      
Brazil, Brazil Real | Debentures | Dec-28            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a.     5.00%      
Effective rate p.a.     15.20%      
Balance in the beginning of the period | R$ R$ 841,858          
Funding (–) costs | R$     R$ 542,660      
Payment of principal | R$     (637,676)      
Payment of interest | R$     (143,788)      
Interest incurred | R$     129,410      
Foreign currency exchange | R$     0      
Effects of restructuring | R$     18,173      
Amortized cost | R$     14,007      
Balance at the end of the period | R$     841,858      
Brazil, Brazil Real | Executed derivatives            
Disclosure of detailed information about borrowings [line items]            
Average nominal rate p.a. 0.00%          
Effective rate p.a. 0.00%          
Balance in the beginning of the period | R$ R$ 0          
Funding (–) costs | R$ 0          
Transfers | R$ 38,576          
Debt into equity conversion | R$ 0          
Payment of principal | R$ (335)          
Payment of interest | R$ 0          
Interest incurred | R$ 0          
Foreign currency exchange | R$ 0          
Effects of restructuring | R$ 0          
Amortized cost | R$ 0          
Balance at the end of the period | R$ 38,241   0      
Brazil, Brazil Real | Others            
Disclosure of detailed information about borrowings [line items]            
Balance in the beginning of the period | R$ 596,148          
Funding (–) costs | R$ 0          
Transfers | R$ 0          
Debt into equity conversion | R$ 0          
Payment of principal | R$ (561,593)          
Payment of interest | R$ (35,125)          
Interest incurred | R$ 363          
Foreign currency exchange | R$ 0          
Effects of restructuring | R$ 0          
Amortized cost | R$ 207          
Balance at the end of the period | R$ R$ 0   R$ 596,148