Análise fundamentalista das empresas do setor de transporte aéreo listadas na B3: evidências sobre os efeitos da pandemia de COVID-19

Abstract

The beginning of the COVID-19 pandemic affected several relevant economic sectors in Brazil and the world, one of the most affected being the air transport sector, a sector that has high operating costs and is sensitive to any potential transport restrictions. Considering this scenario, this study aimed to analyze the financial indicators of companies in the air transport sector listed on the Brazilian Stock Exchange - B3 before and after the beginning of the COVID-19 pandemic, with AZUL and GOL being the focus of this research. The analyzed period covered the 2nd quarter of 2018, year of the IPO (Public Offering) of AZUL and the 4th quarter of 2021. This research adopted the quantitative and exploratory method, through the survey of balance sheets and financial statements, in which this information were converted into financial indices, graphs and tables for better interpretation of results. As for the results, both companies already had a delicate financial situation, with low liquidity and growth in indebtedness, as well as an devaluation of their market indicators. What was accentuated by the beginning of the pandemic in all groups of indicators studied.