Azul, Gol and LATAM buck the trend as most of world’s airlines return to pre-crisis level
RIO DE JANEIRO,BRAZIL – Latin American airlines, and Brazilian in particular, have yet to recover their pre-Covid crisis market value, unlike other airlines in the world, according to a survey conducted by Economática. The region continues to face high death rates and cases of the disease.
According to data, the highest pre-crisis, combined market value of 21 Latin American airlines and companies with ADRs in the United States was recorded on January 20, 2020, at US$186.6 billion.
On March 17, 2021, the same companies reached US$190 billion, surpassing the pre-pandemic peak.
However, on May 19, 2021 the companies closed with a market value of US$178.4 billion, US$8.1 billion lower than on January 20, 2020, down 4.4%.
Among companies, the five worst are Latin American: Colombian Avianca is down 94% in market value, followed by LATAM with a 73.9% drop, Aero Mexico down 67.2%, Azul down 49%, and Gol with a 45.7% drop.
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