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

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).

This CAPA Premium Analysis article is 908 words.

To access CAPA Premium Analysis you need a CAPA Membership

Your window into the latest insights

CAPA employs an industry-leading Analyst team based in Europe, North America, Asia and Australia who offer unique perspectives and independent and accurate commentary of critical industry developments globally. CAPA Members rely on our Analysis to unlock valuable insights and actionable intelligence to keep ahead of the game.

Big picture strategic view

Our Analysts don’t just report the news - they take a big picture strategic view of aviation dynamics, issues and trends and analyse the implications of these developments for you.

Global intelligence

The CAPA Analyst team is based globally to ensure our CAPA Members have access to independent, unique perspectives covering an entire spectrum of daily, worldwide commercial aviation developments.

Customise your Alerts

CAPA Members can use CAPA Alerts to receive daily, weekly or monthly and customised updates on our Analysis.

I'm very impressed by the factual and detailed analysis CAPA is always doing.

- CEO, Airline Member
To learn more, contact us:
Phone: +61 2 9241 3200 | Email: membership@centreforaviation.com