Why Shares of Brazilian Airlines Are Up Today
A third Latin American airline has succumbed to bankruptcy, a sign of the toll the COVID-19 pandemic is taking on the industry. Shares of Gol Linhas Aereas Inteligentes (NYSE: GOL) are up 5.6% as of 1 p.m. EST on Wednesday, and shares of Azul (NYSE: AZUL) are 4.8% higher on the day. Airlines around the globe have struggled due to the pandemic, with Grupo Aeromexico SAB de CV (OTC: GRPA.F) on Tuesday joining Latin American rivals Latam Airlines Group and Avianca Holdings in bankruptcy.