Gol To cut capacity after heavy Q4lLoss
Gol reported a quarterly net loss of BRR1.130b (US$311m), 79% bigger than its loss a year earlier. Gol Linhas Aereas has posted a loss in every quarter of the past 4 years. Its net loss in 2015 nearly tripled from a year earlier to BRR4.291b. Q4 EBITDA earnings dropped 92% from a year earlier to BRR22m. Excluding aircraft rental costs, which are often denominated in US dollars, EBITDAR dropped 17% to BRR399m. To cut costs in the face of stiff inflation and shrinking demand, Gol said it planned to reduce departures by between 15% and 18% in 2016, deepening cuts from a prior forecast of cutting 4% to 6% in the first half of the year. Capacity, in available-seat-km, is now expected to fall between 5% and 8% this year. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-03-31/unaligned/gol-to-cut-capacity-after-heavy-q4lloss
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Gol To cut capacity after heavy Q4lLoss
Gol reported a quarterly net loss of BRR1.130b (US$311m), 79% bigger than its loss a year earlier. Gol Linhas Aereas has posted a loss in every quarter of the past 4 years. Its net loss in 2015 nearly tripled from a year earlier to BRR4.291b. Q4 EBITDA earnings dropped 92% from a year earlier to BRR22m. Excluding aircraft rental costs, which are often denominated in US dollars, EBITDAR dropped 17% to BRR399m. To cut costs in the face of stiff inflation and shrinking demand, Gol said it planned to reduce departures by between 15% and 18% in 2016, deepening cuts from a prior forecast of cutting 4% to 6% in the first half of the year. Capacity, in available-seat-km, is now expected to fall between 5% and 8% this year. <br/>
