The performance of publicly traded companies in Brazil frustrated investors’ expectations in the first quarter. At least 40 of the 72 companies on the Ibovespa, B3’s main index, showed profits below market projections, according to data compiled by Bloomberg. Until the beginning of this week, the companies’ profit was 30% to 40% lower than estimated by analysts.
The financial settlement of operations in the short-term electricity market for April involved R$8.78 billion ($1.83 billion) in accounted transactions but moved only R$287 million ($60 million), reported the Electricity Trading Chamber (CCEE) on Tuesday.
Delta Air Lines is in talks to allow Gol to postpone payments on a $ 300 million loan due in August. Delta is the guarantor of the five-year loan that Gol contracted in August 2015, paying an annual interest rate of 6.5%.
Azul recently reported that consolidated passenger traffic, measured by the passenger-kilometer ratio (RPK), increased 51.6% in May, compared to April. The company did not disclose data for the same period in 2019. Capacity, measured in the seat-kilometer ratio offered (ASK), grew 44.8% between April and May.
Fras-Le’s board of directors approved the issuance of R$ 210 million ($ 43.75 million) in debentures, the company said in a statement sent to the market. The operation will have a seven-year term and will be aimed exclusively at professional investors.