My Account Menu

CAPA Login

Register to trial CAPA Membership!

GOL up on stock upgrade and prospects of recovery: LCC SHARE WRAP


GOL's shares rose to the highest level in 14 months in Sao Paulo trading yesterday after Banco Santander raised its rating for the carrier’s stock from “underperform” to “hold”.

The increase reflected the Brazilian airline’s “improved operating performance, profitability, and balance sheet”. Banco Santander added that “second-quarter results and July traffic indicate that Gol’s turnaround process is succeeding.” The carrier, which gained 9.6% yesterday, was the largest upward mover on the Bovespa index.

Also gaining yesterday was AirAsia and Virgin Blue, both up 4.1%. In Europe, easyJet was stronger (+1.5%), while Ryanair was down slightly (-0.4%).

Selected LCCs daily share price movements (% change): 18-Aug-09

Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.