GOL reports losses on currency and fuel hedge reductions in 3Q08

Premium Analysis

Struggling Brazilian LCC, GOL, stated the impact of gains in currency hedges and losses in fuel hedges in 3Q08 will result in an approximate net loss of USD21.4 million in the three months ended 30-Sep-08 (3Q08). The exchange variation on GOL's net foreign currency liabilities (mainly related to long-term debt, with average term of 7.3 years) will also have a negative non-cash impact of approximately USD100 million in the quarter. GOL was negatively affected by the appreciation of the US dollar by 20% versus the Brazilian Real in 3Q08, equivalent to BRL0.32 (USD0.14).

Become a CAPA Member to access Analysis Reports

This CAPA Premium Analysis Report is 894 words.
Become a CAPA Member

Our Analysis Reports are only available to CAPA Members. CAPA Membership provides exclusive access to in-depth insights on the latest developments in the aviation and travel industry, developed by our team of dedicated analysts located in Europe, North America, Asia and Australia.

Each report offers a fresh perspective on the latest industry trends and is available online or via the CAPA mobile app, with customisable alerts to help you stay informed and identify new business opportunities.

CAPA Membership also provides access to our full suite of tools, including a tailored selection of more than 1,000 News Briefs every week and comprehensive data and analysis on thousands of companies around the world.