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Copa Airlines falls as Venezuela cuts Panama ties

Friday, March 7, 2014

Panama's Copa Airlines slumped as Venezuela cut ties with Panama after it urged mediation to end four-week-old protests.

Venezuela's decision prompted Citigroup to lower the airline’s shares to the equivalent of hold.

The “more negative political posture materially increases cash repatriation and operating uncertainties for Copa,” Citigroup analyst Stephen Trent said.

Source: Bloomberg