bool(false)

Stocks of Brazilian airlines crash following first Covid-19 death

. Mar 17, 2020
Stocks of Brazilian airlines crash following first Covid-19 death Gol stocks are in meltdown mode. Photo: Rafastockbr/Shutterstock

Shares of airlines Azul and Gol are in freefall at the São Paulo stock exchange today, taking a nosedive after news broke of Brazil’s first death from Covid-19. As things stand, Azul is down 12 percent, while Gol’s losses for the day are at 4.6 percent.

Airlines are among the companies hit hardest by the novel coronavirus outbreak—with trip cancelations hitting 85 percent in March. Jerome Cadier, chief executive officer for Brazilian operations at the Chilean-Brazilian carrier Latam, told Agência Estado that it is uncertain whether companies can survive without help from the government.

 
Natália Scalzaretto

Natália Scalzaretto has worked for companies such as Santander Brasil and Reuters, where she covered news ranging from commodities to technology. Before joining The Brazilian Report, she worked as an editor for Trading News, the information division from the TradersClub investor community.

Our content is protected by copyright. Want to republish The Brazilian Report? Email us at contact@brazilian.report