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Gol Linhas Aéreas Inteligentes S.A. (GOL), based in Rio de Janeiro, Brazil, is the country’s largest low-cost airline and a leader in both the corporate and leisure segments. Since its inception in 2001, GOL has revolutionized air travel in Latin America by offering the lowest unit costs, thereby making air transportation more accessible. The company operates a standardized fleet of 143 Boeing 737 aircraft, ensuring uniformity and reliability in its services.
GOL recently extended a decade-long commercial partnership with Air France-KLM, emphasizing improved connectivity and customer experience between Europe and Brazil. This collaboration covers over 125 destinations, aiming to meet 99% of the demand between these regions. The partnership includes expanded maintenance support from Air France Industries KLM Engineering & Maintenance.
Financially, GOL has shown resilience and growth. In Q3 of 2023, the company reported an EBITDA of R$1.25 billion, with a margin of 26.8%. CEO Celso Ferrer highlighted the importance of operational reliability, contributing to a record third-quarter revenue with a 17.7% operating margin. However, in January 2024, GOL filed for Chapter 11 bankruptcy in the U.S. to restructure its finances, securing US$950 million in debtor-in-possession financing to support ongoing operations.
Despite financial restructuring, GOL continues to maintain its high standards of service. The airline’s Smiles frequent-flyer program and Gollog cargo services are integral to its business model, contributing significantly to its revenue. The company operates with a team of approximately 14,000 aviation professionals who prioritize safety, GOL's number one value.
GOL is dedicated to offering the best travel experience, boasting the largest number of seats with more space, an extensive entertainment platform with internet, movies, and live TV, and solid partnerships with major airlines like American Airlines and Air France-KLM. For further information, visit GOL Investor Relations.
GOL Airlines reported its Q3 2024 results, highlighting significant operational achievements. The company maintained its position as the #1 low-cost airline globally in on-time performance for four consecutive months and led Brazil's on-time performance for seven months straight. Capacity increased by 20.9% compared to the previous quarter and 6.7% year-over-year. The Smiles loyalty program showed strong growth with 23.6 million total customers (+6.6% YoY) and 1.1 million Club subscribers (+9.3% YoY). GOLLOG, the cargo business, demonstrated robust performance with a 33.7% increase in sales and 38.4% growth in tons transported for the first nine months of 2024.
GOL Linhas Aéreas Inteligentes S.A. (B3: GOLL4) announced its 2Q24 earnings results, highlighting significant achievements across its passenger, loyalty, and cargo businesses. The airline was recognized as the most on-time in Brazil and Latin America, with a 90.5% on-time performance index. GOL expanded its network with new international routes and codeshare agreements, including a partnership with Azul for exclusive domestic routes. The company saw a 21.1% increase in international ASK in 1H24 compared to 1H23. Smiles, GOL's loyalty program, achieved its second-best quarterly revenue, growing 8.4% year-over-year, while GOLLOG, the cargo business, reported a 41% revenue increase in 1H24 compared to 1H23.
GOL Linhas Aéreas Inteligentes (NYSE: GOL) announced its 1Q24 earnings results, highlighting a 30.3% recurring EBITDA margin, a 5.1 percentage point increase from 1Q23. Net operating revenue was R$4.7 billion, a 4.2% decline year-over-year. GOL filed for Chapter 11 in the US to restructure its balance sheet, securing US$1 billion in debtor-in-possession financing, with US$550 million drawn by 1Q24's end. Cash reserves rose to R$2.0 billion, a 150% increase from 1Q23. Despite a 5.3% reduction in recurring CASK, ex-fuel CASK rose 8.9%. Net leverage decreased to 4.0x, down from 6.0x in 1Q23. Adjusted net loss stood at R$130 million. Operational improvements included a 1.7% increase in aircraft utilization and a stable load factor of 83.1%.
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