LATAM's share of Brazil airline market hits 11-year high as Gol drops By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 22 2024
0mins
Source: Investing.com
- LATAM Airlines Market Share: LATAM Airlines' share of Brazil's domestic market reached its highest level in 11 years in March, with a 41% market share.
- Gol's Decline: Rival Gol continued to struggle after filing for bankruptcy, losing its second-place position to Azul in the domestic market.
- Financial Challenges: Gol faced challenges due to heavy debt load and delays in deliveries by Boeing, leading to Chapter 11 bankruptcy protection.
- LATAM's Recovery: LATAM emerged from pandemic-related bankruptcy proceedings with a $8 billion reorganization plan and expects 7% to 9% growth in domestic operations in Brazil.
- Industry Outlook: Azul increased its core earnings estimate for 2024, citing healthy demand, while total air travel demand in Brazil was up 1.4% in March compared to the previous year.
Analyst Views on BA
Wall Street analysts forecast BA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BA is 252.43 USD with a low forecast of 150.00 USD and a high forecast of 285.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Analyst Rating
14 Buy
2 Hold
1 Sell
Strong Buy
Current: 251.410
Low
150.00
Averages
252.43
High
285.00
Current: 251.410
Low
150.00
Averages
252.43
High
285.00
About BA
The Boeing Company is an aerospace company. Its segments include Commercial Airplanes (BCA), Defense, Space & Security (BDS), and Global Services (BGS). Its BCA segment develops, produces and markets commercial jet aircraft principally for the commercial airline industry worldwide. Its family of commercial jet aircraft in production includes the 737 narrow-body model and the 767, 777 and 787 wide-body models. Its BDS segment is engaged in the research, development, production and modification of manned and unmanned military aircraft and weapons systems for strike, surveillance and mobility. Its BGS segment provides services to its commercial and defense customers worldwide. It sustains aerospace platforms and systems with a range of products and services, including supply chain and logistics management, engineering, maintenance and modifications, upgrades and conversions, spare parts, pilot and maintenance training systems and services, technical and maintenance documents, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
