Brazil’s GOL posts Q2 net loss on currency depreciation
GOL reported a BRL1.3b (US$329.1m) Q2 2018 net loss, deepened from a BRL409.5m net loss a year ago, largely attributable to a steep 16% drop in the monetary exchange rate between the Brazilian real and the US dollar during the 3-month period ended June 30. The fluctuation, from BRL3.3 per US dollar March 31, to BRL 3.9 per US dollar June 30, caused GOL to report exchange and monetary losses of BRL1b on its Q2 2018 financial report. “The traditional low season in Brazilian air travel was particularly challenging,” GOL CE Paulo Kakinoff said, citing the accelerated appreciation of the US dollar versus the real and “industry-wide supply disruption that affected demand for travel.” In May, an 11-day nationwide truck drivers’ strike prevented fuel supplies from being delivered to distribution points. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-08-06/unaligned/brazil2019s-gol-posts-q2-net-loss-on-currency-depreciation
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Brazil’s GOL posts Q2 net loss on currency depreciation
GOL reported a BRL1.3b (US$329.1m) Q2 2018 net loss, deepened from a BRL409.5m net loss a year ago, largely attributable to a steep 16% drop in the monetary exchange rate between the Brazilian real and the US dollar during the 3-month period ended June 30. The fluctuation, from BRL3.3 per US dollar March 31, to BRL 3.9 per US dollar June 30, caused GOL to report exchange and monetary losses of BRL1b on its Q2 2018 financial report. “The traditional low season in Brazilian air travel was particularly challenging,” GOL CE Paulo Kakinoff said, citing the accelerated appreciation of the US dollar versus the real and “industry-wide supply disruption that affected demand for travel.” In May, an 11-day nationwide truck drivers’ strike prevented fuel supplies from being delivered to distribution points. <br/>
