Gol has a loss of R$1.1 billion in the 4th quarter – 03/28/2024 – Market

The airline Gol, in judicial recovery in the United States, announced this Thursday (28) that it had a net loss of R$1.1 billion in the fourth quarter of last year, reversing a positive result of R$231 million obtained in the same period 2022.

The company recorded an operating result measured by recurring Ebitda (earnings before interest, taxes, depreciation and amortization) of R$1.62 billion in the period, an increase of 38.3%.

The result was partly supported by a 23% reduction in aviation fuel costs, a 9.2% increase in the yield ticket price indicator, to R$0.5261, and a more favorable exchange rate.

The company ended the last quarter with 6.7% growth in net revenue, which reached R$5.04 billion.

Gol filed for judicial recovery in the US on January 25, pressured by high debts still under the impacts of the pandemic, in addition to delays in deliveries of Boeing 737 Max aircraft to meet an increase in demand.

In 2023, Latam was the leader of the Brazilian aviation market in terms of number of passengers. The company transported 36.2 million passengers, ahead of Gol, with 31.9 million, and Azul, with 27.2 million.

In percentage terms, Latam had 37.8% of the market, Gol, 33.3%, and Azul 28.4%.