Gol posts first profit since 2011
Gol Linhas Aereas Inteligentes posted its first quarterly profit since 2011 after the Brazilian airline trimmed operations to compensate for plunging travel in its home market. Q1 net income totaled 757.1m reais (US$219m), compared with a loss of 672.7m reais a year earlier, Gol said Wednesday after the close of trading in Sao Paulo. Revenue rose 8.3% to 2.71b reais, more than the 2.58b reais estimated by analysts. Brazil’s second-largest carrier by market share cut the total number of available seats in the quarter, attempting to reduce costs as unemployment above 10% and consumer confidence at record lows kept Brazilians at home. Domestic air travel dropped 7.2% in March, the eighth consecutive month of contraction, according to Brazil’s civil aviation agency.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-05-13/unaligned/gol-posts-first-profit-since-2011
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Gol posts first profit since 2011
Gol Linhas Aereas Inteligentes posted its first quarterly profit since 2011 after the Brazilian airline trimmed operations to compensate for plunging travel in its home market. Q1 net income totaled 757.1m reais (US$219m), compared with a loss of 672.7m reais a year earlier, Gol said Wednesday after the close of trading in Sao Paulo. Revenue rose 8.3% to 2.71b reais, more than the 2.58b reais estimated by analysts. Brazil’s second-largest carrier by market share cut the total number of available seats in the quarter, attempting to reduce costs as unemployment above 10% and consumer confidence at record lows kept Brazilians at home. Domestic air travel dropped 7.2% in March, the eighth consecutive month of contraction, according to Brazil’s civil aviation agency.<br/>
