Gol Q4 profit falls as Max crisis lingers
Gol continues to suffer from the fallout of the grounding of its 7 Boeing 737 Max aircraft, reporting Q4 net income that was almost half of that reported for the same period in 2018. Net income in Q4 fell 47% to R352m (US$80.1m) from R675m, even as revenue rose 18.8% to R3.8b in the quarter. CE Paolo Kakinoff attributed the revenue increase to the company’s low-cost model and “sophisticated fleet management”. Full-year operating revenue at the airline rose to R13.8b ($3.15b) from 11.4b in 2018, up 21.5% for the year. Kakinoff says the company expects its revenue to climb further in 2020, to R15.4b. While the airline is still Brazil’s largest in terms of market share, it has been unable to benefit from the more efficient new-generation Max aircraft in its network. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-02-21/unaligned/gol-q4-profit-falls-as-max-crisis-lingers
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Gol Q4 profit falls as Max crisis lingers
Gol continues to suffer from the fallout of the grounding of its 7 Boeing 737 Max aircraft, reporting Q4 net income that was almost half of that reported for the same period in 2018. Net income in Q4 fell 47% to R352m (US$80.1m) from R675m, even as revenue rose 18.8% to R3.8b in the quarter. CE Paolo Kakinoff attributed the revenue increase to the company’s low-cost model and “sophisticated fleet management”. Full-year operating revenue at the airline rose to R13.8b ($3.15b) from 11.4b in 2018, up 21.5% for the year. Kakinoff says the company expects its revenue to climb further in 2020, to R15.4b. While the airline is still Brazil’s largest in terms of market share, it has been unable to benefit from the more efficient new-generation Max aircraft in its network. <br/>
