Gol Q1 profit drops 70%
Gol’s Q1 net profit dropped almost 70% as it reacted to a weaker domestic environment by cutting capacity. Net income for the quarter to end March fell to BRL232.7m (US$73.5m) from BRL757.1m as Q1 20116 benefited from the return of leased aircraft and the sale and leaseback of planes. Net operating revenue for the quarter was down 2.5% at BRL2.64b, but costs rose 5.3% to BRL2.39b. Gol reduced its aircraft rental costs by just over a quarter and maintenance by 31.2% during the period. Gol carried 8.2m passengers, an 8.3% drop from last year’s quarter, with RPK traffic edging up 0.7%. The carrier reduced the number of seats it sold by 13% and ASM capacity by 2%, resulting in a load factor increase of 2.1 percentage points to 79.6%. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-05-12/unaligned/gol-q1-profit-drops-70
https://portal.staralliance.com/cms/logo.png
Gol Q1 profit drops 70%
Gol’s Q1 net profit dropped almost 70% as it reacted to a weaker domestic environment by cutting capacity. Net income for the quarter to end March fell to BRL232.7m (US$73.5m) from BRL757.1m as Q1 20116 benefited from the return of leased aircraft and the sale and leaseback of planes. Net operating revenue for the quarter was down 2.5% at BRL2.64b, but costs rose 5.3% to BRL2.39b. Gol reduced its aircraft rental costs by just over a quarter and maintenance by 31.2% during the period. Gol carried 8.2m passengers, an 8.3% drop from last year’s quarter, with RPK traffic edging up 0.7%. The carrier reduced the number of seats it sold by 13% and ASM capacity by 2%, resulting in a load factor increase of 2.1 percentage points to 79.6%. <br/>
