Prices at the Pumps - March 28, 2024 #saltwire #energymarkets #pricesatthepumps #gaspricesSAO PAULO - Brazilian carrier Azul on Thursday bumped up its estimate for core earnings in 2024 as air travel demand in Latin America's largest economy remains at robust levels, helping Azul despite capacity bottlenecks in the industry.
Sao Paulo-traded shares of Azul slipped some 5% after the report, making the stock the biggest decliner on Brazil's Bovespa stock index, but sell-side analysts welcomed the results. Goldman Sachs analysts said they see upside risks to Azul's guidance for 2024 on lower jet fuel prices and healthy market dynamics, with limited capacity additions from competitors.
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