Brazil’s GOL reverses losses, posts 2016 US$339m net profit
GOL reported a full-year 2016 net profit of BRL1.1b (US$338.5m), reversing the airline’s BRL4.3b net loss in 2015. GOL reported full-year revenue of BRL 9.9b, up 0.9% from 2015 as operating expenses decreased 7.9% to BRL9.2b. The company reported BRL696.5m in operating income for the year, reversing a BRL183.8m operating loss in 2015. The airline’s operating margin (EBIT) for the year was 7.1%, up 9 points from 2015. In May 2016, responding to the Brazilian economic downturn, GOL embarked on extensive flight network restructuring, reducing the number of seats available for sale by 17% over the year. GOL’s full-year 2016 yield increased 8% to BRL 24.14 cents as RASK grew 8.3% to BRL 21.30 cents and CASK fell 1.1% to BRL 19.79 cents. GOL’s CASK ex- fuel rose 4.4% to BRL 13.97 cents. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-02-21/unaligned/brazil2019s-gol-reverses-losses-posts-2016-us-339m-net-profit
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Brazil’s GOL reverses losses, posts 2016 US$339m net profit
GOL reported a full-year 2016 net profit of BRL1.1b (US$338.5m), reversing the airline’s BRL4.3b net loss in 2015. GOL reported full-year revenue of BRL 9.9b, up 0.9% from 2015 as operating expenses decreased 7.9% to BRL9.2b. The company reported BRL696.5m in operating income for the year, reversing a BRL183.8m operating loss in 2015. The airline’s operating margin (EBIT) for the year was 7.1%, up 9 points from 2015. In May 2016, responding to the Brazilian economic downturn, GOL embarked on extensive flight network restructuring, reducing the number of seats available for sale by 17% over the year. GOL’s full-year 2016 yield increased 8% to BRL 24.14 cents as RASK grew 8.3% to BRL 21.30 cents and CASK fell 1.1% to BRL 19.79 cents. GOL’s CASK ex- fuel rose 4.4% to BRL 13.97 cents. <br/>
