Tuesday, September 1, 2015
Helos Slump With Brazil's Economic Slide
Brazil's helicopter market is sliding amid the nation's severe economic crisis, according to Bloomberg Business. The country's helicopter fleet size is on track for the first decline in 30 years, it said, and flights are down 33% in Sao Paulo. Wealthy residents in that megalopolis have relied on helicopters in avoiding gridlocked roads and reducing their kidnapping risks. But spending on helicopters has dwindled as the economy contracts. Brazil's economy has lost nearly 900,000 jobs in the past year, which Bloomberg said is an unprecedented amount, and real wages are declining.