FLUKA is a general purpose Monte Carlo transport and interaction code used for fundamental physics and for a wide range of applications. These include Cosmic Ray Physics (muons, neutrinos, EAS, underground physics), both for basic research and applied studies in space and atmospheric flight dosimetry and radiation damage. A review of the hadronic models available in FLUKA and relevant for the description of cosmic ray air showers is presented in this paper. Recent updates concerning these models are discussed. The FLUKA capabilities in the simulation of the formation and propagation of EM and hadronic showers in the Earths atmosphere are shown.