The actions of the main airlines that fly in America yesterday recovered part of the land they had lost in the last month and ended a week to be forgotten, given the panic generated by the coronavirus pandemic (Covid-19).
Although far from the $ 110 it reached on February 13, the group’s titles Copa Holdings –Which operates the airlines Copa Airlines and Wingo– led the session yesterday with the highest advance, 18.1%, to close the session at 58.84 dollars. However, in post-closing transactions, he lost about $ 4.
La firma Zacks recommends keeping the shares of the Copa Holdings company, after the company delivered solid numbers in its annual report with revenues of 2 thousand 707.4 million dollars and a profit of 336 million dollars.
In their daily reports, Zacks indicates that despite the stoppage of its Max9 fleet manufactured by Boeing, passenger demand in the first two months of the year remained stable, which allowed a load factor of 84.1%, one of the highest in the airline industry.
Analysts are confident that the company will deliver positive results during the first quarter, despite the conjuncture caused by the coronavirus.
After Copa Holdings, Delta Airlines posted the best second advance on the New York Stock Exchange yesterday, with a 13.7% recovery to close the day at $ 38.36.
The titles of major US airlines plummeted on Thursday, when President Donald Trump announced that travel between the United States and Europe will be suspended for 30 days in an attempt to slow the advance of Covid 19.
Yesterday, Europe was confirmed as the new epicenter of the respiratory disease after the confirmation of at least 200 deaths in 24 hours in Italy and the announcement of new cases in Germany and France.
The International Air Transport Association (IATA) estimates that airlines will lose 63 billion dollars as a result of the Covid 19 pandemic, a figure that would rise to 113 billion dollars if the panic caused by the virus spreads beyond the second half of the year.
IATA has asked governments to allocate funds that allow airlines to recover part of the losses they will register in the coming weeks. It is estimated that tourism worldwide will lose 50 billion dollars due to cancellations caused by fear of contagion.
The shares of the largest airline group in Latin America, Latam, advanced 7.6% yesterday to $ 4.95, while United and American Airlines closed the week with an advance of 12% and 6%, respectively.
The only value that did not take off yesterday was Avianca, which added another 10% decline and ended the week at $ 1.84. In the last 30 days, the stock has lost more than 60% of its value.
The company has been struggling to consolidate its restructuring plan, which includes financing from United Airlines and an operating alliance that would include Copa Airlines. Given the declaration of the pandemic, the company will reduce its capacity between 30% and 40% as of today, March 14.
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