v3.26.1
COMMITMENTS
12 Months Ended
Dec. 31, 2025
Capital commitments [abstract]  
COMMITMENTS COMMITMENTS
37.1Aircraft acquisition
Through contracts with manufacturers and lessors, the Company committed to acquiring certain aircraft, as follows:
December 31,
Description20252024
Lessors917
Manufacturers5294
61111
The amounts shown below are brought to present value using the weighted discount rate for lease operations, equivalent to 18.4% (15.8% on December 31, 2024) and do not necessarily represent a cash outflow, as the Company is evaluating the acquisition of financing to meet these commitments.
December 31,
Description20252024
2025— 1,960,910 
20261,297,521 2,517,365 
2027978,011 5,910,751 
2028836,170 5,284,514 
20292,344,423 3,691,292 
After 20295,419,765 1,088,322 
10,875,890 20,453,154 
37.2Letters of credit
The letters of credit outstanding for the following purposes:
December 31,
20252024
DescriptionR$US$R$US$
Security deposits and maintenance reserves50,816 9,235 2,379,135 384,209 
Bank guarantees— — 7,005 — 
50,816 9,235 2,386,140 384,209