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The Brazilian air workers have postponed the strike originally called for the Christmas days. Two of the major Sao Paulo based airlines Gol Linhas Aereas Intelligences SA and Air Tam led gains on the Bovespa index in Sao Paulo after the delayed strike. The aviation workers have announced the delay until next month for the planned strike that threatened to disrupt Christmas travel to and from Brazil.
The National Air workers have called for the strike, demanding a pay increase of 13 percent whereas; the employees have originally offered only 6 percent. After the strike threats however, the employers have revised the raise. According to Jose Marcio Mollo, president of the Brazilian industry’s trade group, airlines will now be offering 8 percent rise to the workers.
Felipe Rocha, an analyst at Link Corretora in Sao Paulo said in this regard that:
“The decision to delay the strike was positive,”
He further added: “The issue is the size of the pay raise. The companies facing striking workers would be under pressure to give them a bigger raise.”
Gol, Brazil’s biggest carrier by market value, jumped the most in a month, gaining 2.4 percent to 25.10 reais at 3:15 p.m. New York time. Tam SA dropped 0.1 percent to 40.46 reais, after gaining as much as 2.3 percent intraday.
The Sao Paulo based airlines offer flights to Rio De Janeiro, Brasilia, Sao Paulo and many regional as well as international destinations.
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