Why Brazilian Airlines Are Up Today
On Friday, Delta Air Lines told the markets that international travel demand is coming back strong. Airlines based in Brazil, one of the countries Delta spotlighted, are gaining altitude as a result, with shares of both Azul (NYSE: AZUL) and Gol Linhas Aereas Inteligentes (NYSE: GOL) up as much as 11% on Friday.
Airlines all over the world were hit hard by the pandemic, and Latin American carriers suffered more than most. Azul and Gol both avoided bankruptcy filings but others, including one-time giant Latam Airlines Group, ended up in Chapter 11.
The South American airlines were hit disproportionally hard in part because their businesses are heavily dependent on crossborder flights.
Source Fool.com
