Why Shares of Brazilian Airline Azul Are Up Today
It's been a rough year for the airline industry, including Brazil's Azul (NYSE: AZUL), as COVID-19 has decimated travel demand and forced some carriers into bankruptcy. But a Goldman Sachs analyst thinks Azul is a survivor, and his optimism has helped push the company's shares up by as much as 5.5% on Thursday morning.
Airlines around the globe have struggled due to the pandemic, but perhaps no region's carriers have been hit harder than South America. Chile's Latam Airlines Group and Colombia's Avianca Holdings are both in bankruptcy, and Brazil's airlines have seen traffic fall sharply as well.
Azul so far has avoided bankruptcy, and the company is feeling good enough about its liquidity that it isn't sure it will accept offers of assistance from the Brazilian government.
Source Fool.com
