Complicated market conditions have prevented foreign airlines from launching local operations in Brazil, planemaker Airbus' head in the country told Reuters. In 2018, rules which had limited the size of the stake a foreign investor could hold in an airline were overturned in a bid to open up competition among carriers in Latin America's largest economy. Still, market share in Brazil is dominated by just three companies: Azul, Gol and LATAM, the latter the result of a merger in the 2010s between local airline TAM with Chile's LAN.
Petrobras (PBR) awards Solstad Offshore multi-year contracts worth $243 million for three vessels, enhancing operational efficiency in Brazil.
In the most recent trading session, Petrobras (PBR) closed at $13.59, indicating a -1.52% shift from the previous trading day.