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United Airlines Holdings Inc (UAL) - $25 value - yours FREE >>
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Azul (AZUL) Issues Upbeat View for August Passenger Demand
With the gradual relaxation of travel restrictions, Latin American carrier Azul (AZUL - Free Report) anticipates passenger demand for August to increase by a phenomenal 290% from April-levels. This currently Zacks Rank #3 (Hold) carrier expects to have 303 peak daily departures by Aug 31, 2020.
The August projection compares favorably with the July expectation of 240 peak daily departures. Notably, the carrier had 168 daily departures in June. This gradual increase highlights the slow but steady uptick in air-travel demand.
Coming back to the August capacity projection, the estimate reflects nearly 35% of the pre-coronavirus capacity at Azul. This development is highly encouraging, as Azul, which competes with the likes of Gol Linhas and Copa Holdings (CPA - Free Report) in the Latin American aviation space, projected a 40% recovery in demand by December 2020 while laying out the Azul Recovery Plan in May. While Gol Linhas presently carries the same Zacks Rank as Azul, Copa Holdings currently carries a Zacks Rank # 4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Notably, Azul is not the only carrier to boost capacity. Its counterpart in the United States, the Zacks #3 Ranked United Airlines (UAL - Free Report) , also recently announced that it plans to add nearly 25,000 flights in August, triple the size of its June schedule, as air-travel demand (especially for leisure travel) improves consistently.
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