• Reins of the Azure Drake
• Item Level 70Disenchants into:
  Not disenchantable
• Binds when picked up
• Unique
• Requires Level 70
• Requires Riding (300)
• Use: Teaches you how to summon this mount. Can only be summoned in Outland or Northrend. This is a very fast mount.

Source

This item has an extremely low (1% - 2%) chance to be found inside Alexstrasza's Gift after defeating Malygos in The Eye of Eternity. It can drop in either the 10-player or 25-player version of the instance.

Patch changes

• Patch 4.0.3 (15-Nov-2010): Reins of the Azure Drake will once again drop in the 25-man version only. 
  
•  Hotfix (2010-01-05): "...The Reins of the Azure Drake will have a chance of dropping in both 10- and 25-player versions of The Eye of Eternity."
  
• / Patch 3.0.2 (14-Oct-2008): Added. 
  

External links

• Battle.net (EU)
• Wowhead
• Thottbot
• WoWDB