Gol reports higher revenue, sees M&A possibilities

Brazil’s Gol reports higher revenue for the final quarter of 2021 as it continues its fleet transformation and keeps costs in check, while at the same time keeping an eye on possible market consolidation. “In 2021… we made significant progress across multiple measures of success, derived from our winning business model, a highly flexible and efficient fleet, and by providing a customer experience that continues to build preference for our brand,” Gol CE Paulo Kakinoff says on 14 March. He spoke during the airline’s quarterly earnings call. Gol achieved R$2.9b ($570m) in revenue for the final quarter of the year, up from R$1.9b in the same quarter one year earlier. For the full year, the carrier’s revenue rose 16.7% to R$7.4b, up from R$6.4b in 2020. The company posted a R$682m loss for the quarter, compared to R$862m during the same quarter in 2020. The company’s full-year loss was R$3.6b. The Sao Paulo-based carrier is “fully committed to judiciously expanding its operations to meet the growing demand for air travel, while also controlling costs and achieving operational efficiencies”. In Q4, Gol transported 6.5m customers, up 26.1% compared to Q4 2020, and about 67.9% of the same quarter of 2019.<br/>