On Friday, Delta Air Lines told the markets that international travel demand is coming back strong. Airlines based in Brazil, one of the countries Delta spotlighted, are gaining altitude as a result, with shares of both Azul (NYSE: AZUL) and Gol Linhas Aereas Inteligentes (NYSE: GOL) up as much as 11% on Friday.
Airlines all over the world were hit hard by the pandemic, and Latin American carriers suffered more than most. Azul and Gol both avoided bankruptcy filings but others, including one-time giant Latam Airlines Group , ended up in Chapter 11 .
The South American airlines were hit disproportionally hard in part because their businesses are heavily dependent on crossborder flights.
For further details see:
Why Brazilian Airlines Are Up Today