Brazil's domestic airlines are emerging from a long period of turbulence, as demand increased 20.7% in May from the same month last year and small regional carriers notched impressive growth, such as Ocean Air in the Southeast (127.4%) and Rico in the Amazon (73.4%). Analyst Marcelo Ribero points out, however, that these figures may be somewhat misleading because last year demand had fallen as much as 16.3%. In load factor, low-fare Gol led again as load factor grew from 62% in May 2003 to ...

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