GOL records 43-percent increase in operating income

SAO PAULO, Brazil - GOL Linhas Aereas Inteligentes SA, the largest low-cost and low-fare airline in Latin America, announces today its results for the first quarter of 2014. Highlights

GOL records 43-percent increase in operating income

SAO PAULO, Brazil – GOL Linhas Aereas Inteligentes SA, the largest low-cost and low-fare airline in Latin America, announces today its results for the first quarter of 2014.

Highlights

Operating income (EBIT) totaled R$144 million in 1Q14, 43% increase versus 1Q13, with an operating margin of 5.8%. In the last 12 months (LTM), GOL achieved an EBIT of R$309 million and a margin of 3.3%.

Net revenues reached R$2.5 billion, 20% or R$411 million, up year over year and the Company’s highest ever first-quarter figure. LTM net revenue stood at R$9.4 billion.

Latest eTN Podcast

Total load factor of 76.1% on the 1Q14 represented an 8.9 percentage point improvement over 1Q13 and also a first-quarter record, while yield maintained its upward trajectory, increasing by 4% in the period. These factors helped push RASK and PRASK by 18% to R$19.90 cents and R$18.23 cents, respectively.

EBITDAR totaled R$493 million, 34% more than in 1Q13. LTM EBITDAR of R$1,652 million, a Company record, reducing leverage (adjusted gross debt/LTM EBITDAR) from 27.9x, in 1Q13, to 6.5x in 1Q14.

GOL closed 1Q14 with a total cash position of R$2.8 billion, equivalent to 30% of LTM net revenue. The Company remains committed to maintaining ample liquidity, which is essential at times of high volatility in the economic scenario.

Fill out my online form.
CATEGORIES
Follow on Feedly