Economy21 hours ago (Mar 12, 2021 05:20PM ET)
© Reuters. FILE PHOTO: A Boeing 737 airplane of Gol Linhas Aereas lands at Congonhas airport in Sao Paulo
SAO PAULO (Reuters) – South America’s airlines are bracing to cut flight capacity in the region beyond original expectations as a second wave of coronavirus infections in Brazil rages on and dampens demand for travel.
Chile’s LATAM Airlines (OTC:), said on Friday it expects flights in March to fall by 65% compared with March 2019, before the pandemic hit.
The new guidance shows how badly the second coronavirus wave is affecting airlines in the region, especially in Brazil, which just this week posted a new record for daily deaths. Many countries have shut borders with Brazil while state governors in recent days have imposed ever tighter lockdowns to try to stop the spread.
Domestic flights in Brazil are a key market for LATAM.
Its main rival there, Gol Linhas Aereas Inteligentes, said on Friday it was asking passengers with tickets booked for April to confirm whether they were actually going to take the flight, suggesting they were expecting significant cancellations.
“With the worsening of the covid-19 pandemic, Gol is adapting its flight schedules for the month of April,” the airline said in a statement.”
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.