GOL shares up for the sixth consecutive day; US LCC shares weaker
In South America, GOL’s shares gained 0.8% yesterday, for a sixth consecutive day, the longest period of gains since May-2009, after the LCC stated domestic demand may grow by as much as 14% in 2009, a dramatic increase from the previous estimates of between 2% and 4%.
According to CFO, Leonardo Pereira, “demand has been stronger than we imagined. Things that were unthinkable a few months ago are happening now.” Mr Pereira added, “there’s an increase in demand generated by a reduction in ticket prices, but a larger part of the demand growth comes from the economic recovery”.
Selected LCCs daily share price movements (% change): 10-Nov-2009