This Monday (16) the shares of Brazilian airlines closed with a sharp drop, on a day when the market acted in the same way, due to the worldwide fear related to the Coronavirus.
With the announcement of flight cuts and more restrictions on air travel, stocks fell sharply throughout the day.
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- AZUL PN closed down 36,87%, to 15,60 reais, a historic low, equivalent to a loss in market value of 3 billion reais, to 5,138 billion reais. The roles are still affected by the effects of the coronavirus pandemic, in addition to the appreciation of the dollar to above 5 reais in this session. Azul announced a series of measures, including the reduction of its consolidated capacity by 20% to 25% in March, and between 35% and 50% in April and following months, until the situation returns to normal. It also communicated the suspension of international flights, except those departing from Campinas (SP).
- GOL PN fell 28,02%, to 8,02 reais, the lowest since July 2017 and equivalent to a loss in market value of 856,6 million reais, to 2,2 billion reais. The role also continues to be affected by developments linked to the coronavirus pandemic and the behavior of the exchange rate. On Friday night, the airline announced the cancellation of the proposed corporate reorganization of its SMILES loyalty program business, which ended the session down 28,2%.
- CVC BRASIL ON fell 32,25%, to 10,40 reais, the lowest since February 2016, with the travel sector as a whole affected by the evolution of the coronavirus, with countries closing borders and airlines reducing capacity and suspending flights. The dollar above 5 reais also weighed. The tour operator lost 739 million reais in market value in this session, to 1,55 billion reais.
Via – Reuters
