It was a rough week for Brazilian markets, and Azul (NYSE: AZUL) got caught in the downdraft. Shares of the company were down 18% for the week, as of Thursday afternoon, on fears the airline's home economy might be headed into a recession.
It's been a tough few years for airline stocks, and Latin American carriers have been hit harder than most. But Azul has flown through the pandemic relatively unscathed, and just a few months ago, investors were bidding the shares up on hopes that Azul might be able to acquire a rival out of bankruptcy to help build its market share in Brazil.
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Source Fool.com