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The company’s shares climbed to 14.12 reais, equivalent to $2.91, despite the Ibovespa, Brazil’s benchmark stock index, remaining largely unchanged during the afternoon trading session on Monday. Over the past three months, Azul’s shares have seen a more pronounced drop compared to other airlines in Latin America. However, JPMorgan notes that the airline has displayed consistent operational results throughout this period.
Azul has not only performed well in the stock market but also made strategic financial moves recently. The airline issued new bonds worth $800 million and negotiated lease agreements. These actions have enabled Azul to significantly reduce its cash requirements for 2023-2024, according to analysts.
These developments underscore the dynamic nature of the Brazilian stock market and highlight Azul’s strategic moves to bolster its financial standing amidst challenging market conditions.
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