When Gol, Brazil’s second-biggest airline, said on Monday it had an “important announcement” to make later in the day, investors were overjoyed.
After a series of job cuts, route reductions and a net loss of R$715m ($354m) in the second quarter of this year, the company surely had only one thing left to say: that it was going to be sold.
Gol’s stock shot up almost 11 per cent on Monday as traders salivated over what kind of juicy premium might be offered. (Qatar Airways had long been rumoured to be interested.) It couldn’t possibly be as much as the 47 per cent Chile’s Lan offered Tam back in 2010 – could it…?
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