Read this Tuesday’s edition of the FolhaMercado newsletter (7) – 03/07/2023 – Market

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Airlines take off after debt renegotiation

Shares of Azul and Gol airlines were the highlights of the Stock Exchange this Monday and soared almost 40% It is 24%respectively, carrying together the papers from the CVC travel agency, which jumped 19%.

The Ibovespa closed up 0.80%, at 104,700 points. The dollar retreated 0.63%, to R$ 5.166.

Which explains:

The blue one announced to the market that it reached an agreement to renegotiate debts with lessors of its aircraft who own 90% this type of airline liability.

• The agreement is relevant because the lease represents 80% of Azul’s gross debt. The agreement gives the company’s cash flow a breath of air and dispels rumors in the market of a possible request for judicial recovery.

• Payment will be made with debt maturing in 2030 and with company shares. The company also released its balance sheet for the last quarter of 2022, with growth of almost 7% in Ebitda – an indicator of cash generation– and optimistic projections for 2023.

Goal announced on Friday (3) night that it agreed to a financing of up to $1.4 billion together with its controlling holding company, Abra Group.

• The bonds, maturing in 2028, bear interest at 18%, with 4.5% paid in cash and the rest in capitalization.

The two, however, are still accumulating a strong drop on the Stock Exchange for the past year. Azul and Gol retreat about 44% It is 57%respectively, in the last 12 months.

the CVC took the momentum of the airlines, which represent an important part of its business, but also because it is in the process of renegotiating its debts.

More about stock companies

The shares of Eletromidia, a company known for its electronic advertising panels, closed up 17% after the company announced that the Globo group had bought 8.57% of its capital. The value of the transaction was not informed.

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Banks win another one in court

The Justice of São Paulo granted Bradesco the restriction of the assets of Americanas’ fiscal councilors, as guarantee for the debt that the retailer has with the bank.

• In practice, the decision works as a “notice to the square”: whoever buys one of the directors’ assets is warned that they may have that asset seized in the future, as compensation.

• Fiscal councilors Carlos Alberto de Souza, Pedro Carvalho de Mello, Peter Edward Cortes Marsden Wilson, Ricardo Scalzo and Vicente Antonio de Castro Ferreira became the target of judicial protest.

• Americanas said that the decision does not block the directors’ assets, but “makes public the existence of the said protest.”

Tripe: this is the second consecutive victory that the banks have won against Americanas in court. Financial institutions are the retailer’s biggest creditors and claim that there was fraud in the company’s management.

• The retailer tries to concentrate all processes related to the case in Rio, the city where its headquarters are located and where it has the most influence.

• The banks, which in the action were represented by Febraban (bank federation), Itaú, Santander and Bradesco, prefer the judicial arena in São Paulo.

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Gasoline rises R$ 0.17 in week of reenonment

The price of gasoline at Brazilian stations rose BRL 0.17, or 3.3%, last week, when the government adopted a partial reinstatement of taxes at the same time that Petrobras reduced the price of fuel at its refineries.

In numbers: the liter of gasoline was sold in the country, on average, BRL 5.25according to a survey by the ANP – which began collecting data at the beginning of the week, before the reenactment.

• With a collection made after the 28th, the Panorama Veloe of Mobility Indexes, for example, captured an increase of BRL 0.41 per litre.

• With the resumption of taxes and price cuts by Petrobras, the market expects BRL 0.26 per liter high, considering the mixture of ethanol in gasoline.

The ANP registered the most expensive gasoline in the country in São Paulo, Barueri (SP) and Santo André (SP), at R$ 6.99 per liter. Last week, the Sheet found a station in the central region of São Paulo that sold fuel to BRL 8.49 the litre.

More numbers: Diesel, which remains exempt from federal taxes until the end of the year and had a price reduction by Petrobras of R$ 0.08 per liter, fell R$ 0.03 to R$ 6.02 per liter in the ANP survey.

• Hydrated ethanol, which had federal taxes resumed at R$ 0.02 per liter, rose R$ 0.09 (2.4%,) to R$ 3.88 per liter.

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ILO: Inequality at work is greater than previously thought

The ILO said on Monday that women face more difficulties in accessing the world of work than is measured by job surveys.

• The result appeared thanks to the creation of an indicator that better measures the unemployment rate and detects all people looking for some activity.

In numbers: The entity’s data show that 15% of working-age women in the world who don’t have a job would like to be busy, versus 10.5% of men.

• This scenario, which contrasts with the result of official rates, has remained practically unchanged for two decades, according to the entity.

Which explains: labor market surveys usually consider as unemployed people who do not have a job, but are still looking for a job.

• According to the ILO, some adopted criteria tend to disproportionately exclude women, who are delegated personal and family responsibilities, including unpaid care work.

Disparity: the UN labor organization also stated that globally, for every dollar of labor income earned by men, women earn only 51 cents.

More about gender inequality at work