Equity Analysis /
Brazil

Gol Linhas Aereas Inteligentes: GOL LINHAS AEREAS INTELLIGENTES (GOLLBZ): Fight, or Flight? Reiterate BUY

    Rafael Elias
    Rafael Elias

    Director, Latin America Credit

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    Tellimer Research
    21 June 2018
    Published byTellimer Research
    Investors in Gol Linhas Aéreas Inteligentes (GOLLBZ) have been feeling the pain of falling bond prices, mainly due to the double whammy of a depreciating Brazilian real (BRL) and increases in the cost of jet fuel. But we don’t believe that this is the right time for investors to take “flight”, as the yields that the Gol family of bonds provide to investors are good reasons to stay and “fight”.