A Wall Street analyst has concluded that the worst is over for (NYSE: AZUL), and investors are taking notice. Shares of the Brazilian airline are up as much as 14% on Monday following an upgrade over at Bank of America.
The pandemic hit the airline industry hard, and Latin American carriers faced more challenges than most. Unlike many of its rivals, Azul managed to avoid bankruptcy, but the company is still in the process of regaining altitude.
Azul is making progress in fixing its balance sheet. The shares got a boost in March after the company announced it had successfully reworked its lease agreements, freeing up cash and boosting its balance sheet.
Source Fool.com