Gol slips to Q4 loss as it works through bankruptcy process
Restructuring Brazilian low-cost carrier Gol swung to a net loss of R1.1b ($221m) in Q4, the first results it has disclosed since entering bankruptcy protection in January. The loss compared to a net profit of R231m for the same period in 2022 and reflects the R1.1b impact of foreign exchange losses and other one-off items during Q4. By contrast, Gol reported a near-doubling of profits at an operating level, posting earnings before interest and tax (EBIT) for the last three months of 2023 of almost R1.2b. Gol boosted revenues almost 7% to R5b in Q4, on passenger levels broadly flat at 7.8m. Load factor climbed almost four points to 84%. The revenue performance was set against a 6% cut in operating costs during the quarter to R3.86b.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2024-03-29/unaligned/gol-slips-to-q4-loss-as-it-works-through-bankruptcy-process
https://portal.staralliance.com/cms/logo.png
Gol slips to Q4 loss as it works through bankruptcy process
Restructuring Brazilian low-cost carrier Gol swung to a net loss of R1.1b ($221m) in Q4, the first results it has disclosed since entering bankruptcy protection in January. The loss compared to a net profit of R231m for the same period in 2022 and reflects the R1.1b impact of foreign exchange losses and other one-off items during Q4. By contrast, Gol reported a near-doubling of profits at an operating level, posting earnings before interest and tax (EBIT) for the last three months of 2023 of almost R1.2b. Gol boosted revenues almost 7% to R5b in Q4, on passenger levels broadly flat at 7.8m. Load factor climbed almost four points to 84%. The revenue performance was set against a 6% cut in operating costs during the quarter to R3.86b.<br/>
