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Brazilian travel agencies see more cancelations because of coronavirus

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Brazilian travel agencies began feeling the impact of the coronavirus epidemic as business and vacation trips to Europe and even to see the Olympics in Japan are being canceled, making the airlines' landscape more difficult. Gol and Azul shares fell 14.3% and 13.3% respectively on Wednesday on the B3 stock exchange in São Paulo, leading losses in a trading session that closed with bellwether Ibovespa down 7%. Latam shares fell 6.99% in New York.

"We are seeing many cancelations, especially for Italy. We've already had three groups of tourists canceled. One of these is a 120-people group that was bound for Cosmoprof [the international perfumery and cosmetics fair, held March 12-16] in Bologna," says Arnaldo Franken, a partner in Grupo AD Turismo e Viagens. The executive also received more than 40 requests from leisure tourists to cancel trips in March and April to Italy and other destinations in Europe.

"We are facing a very complicated March. I believe cancelations will be stronger in the next couple of months. After that there should be an improvement," Mr. Franken says. He adds, however, that there are already customers canceling packages to Japan, which will host the Olympics in July.

Maringá Turismo says it has been seeing flight cancelations since January because of the coronavirus. In January and February, cancelations were limited to China, but now the problem has increased...

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