Why Gol Linhas Aereas and Azul Stocks Dropped Today, but Bankrupt LATAM Airlines Popped

A new estimate of the scale of financial losses facing the global airline industry reveals the heavy toll on South American airline stocks, with shares of Brazil's Azul (NYSE: AZUL) airline falling as much as 11.1% today and Sao Paulo's Gol Linhas Aereas Inteligentes (NYSE: GOL) tumbling 13.1%. Both airlines were back up off their lows as of 12:40 p.m. EDT, with Azul down only 5.5% and Gol off 3.6%. Meanwhile, their Chilean rival, LATAM Airlines (NYSE: LTM), was actually up 4.1% after swinging wildly between an 8.3% loss and a 20% profit earlier in the day.