Transportation
Troubled Brazil Airlines Hit With Losses on Currency, Climate Woes
- Currency slide and rising fuel costs hurt carriers in 2Q
- Torrential rains in Porto Alegre weighed on Gol, Azul revenue
Gol estimated that the closing of Porto Alegre’s Salgado Filho airport was responsible for revenue losses amounting to approximately 120 million reais.
Photographer: Leonardo Carrato/BloombergThis article is for subscribers only.
Brazilian airlines, already struggling with high interest rates and volatile fuel costs, are being hit with more losses as currency woes and climate challenges test the sector’s operational resilience.
Azul SA and Gol Linhas Aereas Inteligentes SA, two of the nation’s largest carriers, reported setbacks in the second quarter as a weakening Brazilian real and the closing of a key airport following torrential rains in country’s south dragged their earnings, quarterly reports showed this week.