Prognosis
Worst-Hit Airlines Badly Need the Cash That Latin America Lacks
- Gol, Azul, Avianca cut domestic, international flights further
- South American carriers’ stock drop outpaces global benchmark
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It’s hard to spot a plane these days in the skies over Latin America. Unfortunately for the region’s carriers, concrete signs of a rescue package look just as scarce.
A fresh round of flight cuts were announced Tuesday, reducing travel on the continent to a trickle and raising the pressure on governments to help prop up the ailing industry. Brazil’s Gol Linhas Aereas Inteligentes SA said it will suspend all international travel and limit domestic flights to 50 a day through May 3. Azul SA’s capacity is cut by 90% of its normal flow through the end of April, and Avianca Holdings SA suspended the last of its passenger flights altogether. A day earlier, Sky Airline SA and Copa Holdings SA temporarily halted operations.