At actions in companies related to travel on the Brazilian stock market advanced this Tuesday, following the more favorable climate for the sector worldwide, after the China ease restrictions related to Covid-19.
Around 11:10, Azul’s shares were up 2.4% and Gol’s shares were up 1.3%, while CVC Brasil was up 0.5%.
At the same time, the Ibovespa showed an increase of 1%.
China has halved the quarantine time for travelers arriving in the country, a restriction that has made travel in and out of the country difficult since 2020.
In the United States, stocks in airlines, cruise lines, casinos and hotels rose on hopes of a big jump in international travel and spending.
Among airlines, Spirit Airlines and American Airlines Group rose 3% and 5.75%, respectively. Melco Resorts was up 12.3%, with Wynn Resorts up 7.4% and MGM Resorts up 4.3%.
The external impulse made room for a recovery of papers in this sector in Brazil, which still show strong losses in the month and in the year, given the uncertainty still on the horizon for the airlines and a long way to the full recovery after the severe impact caused by the pandemic of Covid-19.
In June, Blue (BLUE4) accumulates a drop of around 32% while Gol loses around 30%.
CVC Brazil (CVCB3) declines around 26%. In the year, Blue drops 44% and Goal (GOLL4) drops by 40%, while CVC registers a decline of almost 40%.
In the case of CVC, also on the radar is the news that the National Consumer Secretariat has opened an administrative process to investigate the company and others in the travel sector after consumer complaints related to possible violations of the Consumer Defense Code with regard to cancellations, rebookings, refunds and repurposing of travel and reservation credits.
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
