Windfall for Gol Linhas' bonds investors
Returns up 21% as airline flies record number of travellers
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[NEW YORK] Gol Linhas Aereas Inteligentes SA's planes have never been more filled with passengers. That's translating into a windfall for bond investors in the biggest airline in Brazil.
Its US$500 million of notes have rallied since Aug 13, when Gol beat analysts' sales estimates for a fifth quarter and said a record 81.2 per cent of seats on its planes were occupied in June and July.
That's pushed returns on the Sao Paulo-based airline's bonds to 21 per cent this year, triple the average in emerging markets, according to data compiled by Bloomberg.
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