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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 Linhas Aéreas Inteligentes S.A. (NYSE: GOL) reported significant growth in preliminary air traffic figures for July 2021 compared to July 2020. Domestic demand (RPK) surged by 173% while supply (ASK) increased by 152%. The airline's load factor reached 84.5%, up 6.4 percentage points from last year. GOL transported 1.9 million passengers, marking a 168% increase. Notably, GOL did not operate any regular international flights during this period, focusing solely on domestic travel.
GOL Linhas Aéreas, Brazil's largest airline, has signed agreements for 28 Boeing 737 MAX-8 aircraft to accelerate its fleet transformation, expected to reduce unit costs by 8% in 2022. By the end of 2022, GOL will operate 44 MAX aircraft, making up 32% of its fleet. The 737 MAX is pivotal for GOL's goal to achieve carbon neutrality by 2050, consuming 15% less fuel and emitting 40% less noise than the older 737-800 models. Additionally, the agreements may generate approximately US$200 million in cash equity gains.
GOL Linhas Aéreas Inteligentes S.A. (NYSE: GOL) provides a preliminary and unaudited investor update. The company anticipates a 46% increase in capacity for 2H21 compared to 2H20 and a revenue boost of approximately 85% for the same period. GOL expects to operate 102 aircraft, slightly lower than the previous estimate of 110. By year-end, liquidity is projected at R$4.2 billion and adjusted net debt at R$15.3 billion. Key metrics for 3Q21E include an anticipated net operating revenue of R$1.8 billion and an EBITDA of R$0.4 billion.
GOL Linhas Aéreas Inteligentes S.A. announced its 2Q21 results, showcasing a strong recovery in Brazilian air travel demand due to declining Covid-19 cases and an increased vaccination rate, with over a third of the population vaccinated by June 30, 2021. Key highlights include a 344% increase in Revenue Passenger-Kilometers (RPK) and a net revenue of R$1.0 billion, marking a 187% year-over-year growth. The company executed a capital increase of R$423 million and plans to enhance its flight network as business travel rebounds, indicating a positive outlook for the coming quarters.
GOL Linhas Aéreas Inteligentes S.A. (NYSE: GOL) announced its earnings schedule for the second quarter of 2021. The earnings release is scheduled for July 29, 2021, before trading hours, and will be accessible on their website.
A conference call will occur on the same day at 11:00 a.m. (US EDT) with a replay available for seven days. GOL operates over 750 daily flights and serves over 36 million passengers annually, maintaining a robust safety record and on-time performance.
GOL Linhas Aéreas Inteligentes S.A. provides a preliminary investor update on its expectations for 2Q21, projecting a loss per share of approximately R$3.25 and US$1.23 per American Depositary Share. The EBITDA margin is expected to decline to 16-18%, a drop from 28% in 2Q20. Passenger unit revenue is expected to be 17% lower year-over-year, with total liquidity at R$1.7 billion. GOL plans an 80% increase in capacity for 3Q21, anticipating stronger demand. Financial leverage stands at 11x net debt to EBITDA, highlighting ongoing debt management.
GOL Linhas Aéreas, Brazil's leading domestic airline, reported a significant surge in June 2021 traffic figures compared to June 2020. Demand (RPK) soared by 282%, while supply (ASK) increased 260%. The domestic load factor reached 83.9%, a 4.7 percentage point rise. GOL transported 1.2 million passengers, marking a 278% increase. The airline did not operate international flights in June. Despite these improvements, accumulated traffic figures for the first half of 2021 showed a 22.8% decline in departures compared to the same period last year.
GOL Linhas Aéreas Inteligentes S.A. (NYSE: GOL) is hosting an Investor Roundtable titled 'The Future of Flying' on June 24, 2021, at 2:30 PM US EDT via videoconference. This event celebrates the company's 17th anniversary on the NYSE and B3, featuring a company presentation and roundtable discussion. GOL serves over 36 million passengers annually with more than 750 daily flights across Brazil and internationally. Stakeholders can participate by accessing the event through the provided videoconference link.
GOL Linhas Aéreas announces the conclusion of the preemptive rights exercise period for its equity capital increase, raising a total of R$423 million. This capital increase is part of a larger initiative that secured over R$1 billion this month, boosting GOL's liquidity and solidifying its position as the most liquid airline stock in Latin America. The company reported significant improvements in its balance sheet, with a focus on minimizing shareholder dilution while preparing for growth as Brazil’s economy recovers. The ongoing recovery in ticket sales signals anticipated earnings growth.
GOL Linhas Aéreas announced its agreement to acquire MAP Transportes Aéreos for R$28 million in cash and stock. As the largest domestic airline in Brazil, GOL aims to enhance its network and capacity, tapping into the recovery of air travel demand post-Covid-19. The acquisition will add 26 daily flights from Congonhas Airport and increase service to underserved markets. GOL will replace MAP's smaller ATR fleet with larger, more efficient aircraft, enhancing operational efficiency. The deal is pending regulatory approvals from ANAC and CADE.
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