AZUL - Why Brazilian Aerospace Stocks Are Flying High Today
A spate of positive headlines concerning the pandemic is helping to give a lift to Brazilian aviation and aerospace stocks, with investors hoping the worst might soon be over. Shares of airlines GOL Linhas Aereas Inteligentes (NYSE: GOL) and Azul (NYSE: AZUL) and jet manufacturer Embraer are (NYSE: ERJ) all up about 10% Tuesday in New York trading.
Airline stocks all around the globe were hit hard by COVID-19, but few regions suffered more than Latin America. Several major airlines in the region flew into bankruptcy in 2020, and even the survivors have faced headwinds in 2021 because vaccine progress and new case trends in Brazil have not kept up with those in other parts of the world.
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Why Brazilian Aerospace Stocks Are Flying High Today