Gol Linhas Aereas Inteligentes S.A. will be suspending all international flights effective Mar 28 through May 3 as coronavirus concerns mount. Additionally, due to plummeting air travel demand, the airline will slash its domestic capacity by 92% for the same period.
The carrier will only be operating a network of 50 daily flights between the São Paulo International airport in Guarulhos (GRU) and 26 other capital cities of Brazil to help customers with essential travel.
In these trying times, the Brazilian low-fare airline will, however, adjust its flight services as per the requirement from the capital cities and accordingly, provide additional flights to domestic and international destinations. Moreover, to ease customer worries, Gol Linhas has waived change fees for flights booked between Mar 28 and May 3.
With diminishing travel demand in the wake of the coronavirus outbreak, shares of Gol Linhas have plunged 79.3% since the beginning of February compared with the industry’s 56.8% decline.
Gol Linhas’ Latin American counterparts Avianca Holdings and Copa Holdings (CPA - Free Report) have temporarily closed all passenger operations. Among the U.S. carriers, United Airlines (UAL - Free Report) reduced its international schedule by approximately 90% for April.
Zacks Rank
Gol Linhas carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Gol Linhas Aereas Inteligentes S.A. will be suspending all international flights effective Mar 28 through May 3 as coronavirus concerns mount. Additionally, due to plummeting air travel demand, the airline will slash its domestic capacity by 92% for the same period.
The carrier will only be operating a network of 50 daily flights between the São Paulo International airport in Guarulhos (GRU) and 26 other capital cities of Brazil to help customers with essential travel.
In these trying times, the Brazilian low-fare airline will, however, adjust its flight services as per the requirement from the capital cities and accordingly, provide additional flights to domestic and international destinations. Moreover, to ease customer worries, Gol Linhas has waived change fees for flights booked between Mar 28 and May 3.
With diminishing travel demand in the wake of the coronavirus outbreak, shares of Gol Linhas have plunged 79.3% since the beginning of February compared with the industry’s 56.8% decline.
Gol Linhas’ Latin American counterparts Avianca Holdings and Copa Holdings (CPA - Free Report) have temporarily closed all passenger operations. Among the U.S. carriers, United Airlines (UAL - Free Report) reduced its international schedule by approximately 90% for April.
Zacks Rank
Gol Linhas carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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