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Why Azul Stock Is Flying Higher Today
Brazilian airline Azul (NYSE: AZUL) has sealed an alliance with rival Gol Linhas Aereas Inteligentes that could lead to an eventual merger.
Investors are optimistic the agreement will help the industry gain pricing power, sending shares of Azul up by as much as 11% in early trading. As of 2:20 p.m. ET, those gains had moderated to about 5%.
Azul has been one of the top airlines in Latin America since the pandemic, but it has not been an easy journey. The local air travel industry has not seen the same post-pandemic demand surge that North American carriers have enjoyed. Shares of Azul today trade about 80% below where they were at the beginning of 2020.
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