Brazil's Azul rebounds with economy, Olympics

A Brazilian airline executive said economic troubles have hurt the carrier more than fears of Zika, the mosquito-borne virus that causes birth defects after infecting pregnant women. But David Neeleman, the CEO of Azul Airlines who previously helped found JetBlue, told Bloomberg television Tuesday that the economy is rebounding and visitors are enjoying the Olympics hosted in Rio de Janeiro. “You know, Azul fares were very low from Brazil to United States, and now, there's no visa requirement through September, and so, you know, our business is planes are full, fares are up,” Neeleman said. “So we're — we're very happy.” While hosting the Olympics, Brazil waived its visa program for tourists from June 1 to Sept. 18, according to the US State Department. But travellers should check with the Brazilian consulate to confirm their travel status, the department said. “We're seeing a lot of traffic into Rio right now,” Neeleman said. “People are saying, ‘I want to be a part of this Olympics, it'll be probably the only time in our lifetime we see the Olympics in Brazil.’” Zika was a concern more for US or European travellers visiting Brazil, Neeleman said. But about two-thirds of Azul’s business caters to corporate customers, and to Brazilians flying to Europe rather than the other way around. A bigger concern had been a 30% devaluation in the real, Brazil's currency. While US airlines enjoyed a windfall in lower fuel prices, Neeleman said the real fell along with oil prices so the airline didn’t benefit. <br/>