Why Shares of Brazilian Airline Azul Are Soaring Today
Shares of Azul (NYSE: AZUL) traded up 6% on Monday after the Brazilian government laid out the proposed terms of a state aid package for the country's airline industry. The terms are tough, but the good news for Azul shareholders is that the company is not sure it needs the money.
Airlines around the globe have struggled due to the COVID-19 pandemic, and South American carriers have found conditions worse than most. Chile's Latam Airlines Group and Colombia's Avianca Holdings have both filed for bankruptcy, and Brazil's airlines have seen traffic fall as well.
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Source Fool.com
