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24-Feb-2011 1:28 PM

GOL 4Q2010 operating profit doubles

GOL revenue up 16% - financial highlights for the three months ended 31-Dec-2010:

  • Revenue: USD1117 million, +15.6% year-on-year;
    • Ancillary: USD102.7 million, -19.1%;
  • Operating costs: USD960.2 million, +7.3%;
    • Fuel: USD349.1 million, +29.4%;
    • Labour: USD205.4 million, +14.7%;
  • Operating profit: USD156.4 million, +119.8%;
  • Net profit: USD78.9 million, -66.8%;
  • Passenger traffic (RPKs): +6.4%;
    • Domestic: +6.9%;
    • International: +8.4%;
  • Load factor: 71.1%, -2.3 ppts;
    • Domestic: 71.1%, -3.1 ppts;
    • International: 70.6%, +3.7 ppts;
  • Breakeven load factor: 61.1%, -6.8 ppts;
  • Average fare: USD113.11, +13.0%;
  • Yield: USD 12.19 cents, +12.9%;
  • Passenger revenue per ASK: USD 8.67 cents, +9.4%;
  • Operating revenue per ASK: USD 9.54 cents, +4.6%;
  • Cost per ASK: USD 8.21 cents, -2.9%;
  • Cost per ASK excl fuel: USD 5.24 cents, -11.5%;
  • Average sector length: 910 km, +1.8%;
  • Total assets: USD5413 million, +3.9%;
  • Total liabilities: USD3664 million, -2.3%;
  • 2011 forecast:
    • Passenger numbers: 33 million to 36 million;
    • Yield: USD 11.64 cents to USD 12.54 cents;
    • Cost per ASK excl fuel: USD 5.31 cents to USD 5.08 cents;
    • Operating margin: 11.5% to 14.0%. [more]

*Based on the conversion rate at USD1 = BRL1.67451

GOL: “Operating improvements in the coming years will be based on its low-cost and low-fare model, as it strives to build an increasingly solid operation focused on the Brazilian market, backed by yet another year of consistent growth,” Company statement. Source: GOL, 23-Feb-2011.

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