Earlier this week, Brazilian airline Azul (NYSE: AZUL) served notice it was looking to consolidate the Latin American airline market, and on Wednesday its reported target was identified. That has Azul shares gaining altitude, up more than 7% in late-morning trading.
Airline stocks, and Latin American airlines in particular, were hit hard by the pandemic, but Azul has proved itself to be one of the healthiest in the region. The Brazilian company is now hoping to use that strength to its advantage, seeking to buy up some of its weaker rivals.
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Source Fool.com