Brazilians returned to the skies in September, and that has the stocks of the country's airlines soaring higher on Tuesday. Shares of Gol Linhas Aereas Inteligentes (NYSE: GOL) were up 10% as of 1 p.m. EST today, while shares of Azul (NYSE: AZUL) were up 7.6%.
Airlines worldwide have seen demand plummet due to the pandemic, but South American carriers have been hit particularly hard . Azul and Gol have both been able to avoid bankruptcy filings so far, and their latest monthly reports on travel demand would suggest that perhaps the worst is over.
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Why Shares of Brazilian Airlines Azul and Gol Are Up Today