UPDATE 3-LATAM Airlines, Azul to cut international flights up to 30% due to coronavirus [Reuters]
LATAM Airlines Group S.A. American Depositary Shares (each representing two thousand (2,000) shares of) (LTM)
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Source: Reuters
UPDATE 3-LATAM Airlines, Azul to cut international flights up to 30% due to coronavirus (Updates with share prices, no comment from Gol) By Marcelo Rochabrun SAO PAULO, March 12 (Reuters) - LATAM Airlines Group and Brazil carrier Azul SA said on Thursday they will cut capacity on international flights by up to 30% as demand collapses due to the global coronavirus outbreak. The regional carriers also suspended their previous earnings guidance for 2020 and declined to issue new forecasts for the year, citing lack of visibility. Azul shares fell as much as 34% on the news in Sao Paulo, the leading loser in the Bovespa index which fell enough to trigger a circuit breaker. LATAM shares fell 13% in Santiago. LATAM, the region’s largest carrier, said it would cut flights between April 1 and May 30, with the reductions focused solely on international routes. The outbreak comes at a particularly risky moment for Azul, which was planning for an aggressive business expansion. This year, it annou
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