Stocks of Brazilian airlines crash following first Covid-19 death

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.

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