By Tina Seymour
All the airlines are vulnerable to fuel prices, but given the way the currency exchange rates are working out, the Brazilian carriers may be laboring under the biggest exposure here.
I mentioned that the airline trade had more room left to go down. This appears to be the catalyst.
If Brazilian monetary policy officials get their way and guide the real lower, it will rob airlines like GOL (GOL) and TAM (TAM) of effective global purchasing power as they need to use depreciated reais to buy dollar-denominated jet fuel.
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