Gol Linhas Aéreas Inteligentes, a Brazilian airline, experienced a significant decline in its occupancy rates, leading to a 5.3% decrease in its shares. Currently trading at 12.49 reais ($2.55), the airline’s shares have seen an impressive 80% increase since the end of the previous year. Conversely, rival Brazilian airline, Azul, also faced a 5% decline in its shares, which now stand at BRL19.44.
The overall Brazilian stocks index, Ibovespa, witnessed a 1.4% drop in morning trading. Gol shared that its total occupancy rate fell by 0.9% in June compared to the previous year. Additionally, the occupancy rate for international flights experienced a notable 15% decrease during the same period.
These lower occupancy rates are expected to continue impacting the airline in the coming months, outweighing the positive increase in revenue passenger kilometers mentioned in the report. Analysts believe that Azul’s shares were particularly affected by this news due to its similar business nature and greater exposure to international flights.
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