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26-Mar-2013 2:52 PM

GOL losses widen in 2012

GOL revenue down 5% – financial highlights:

  • Three months ended 31-Dec-2012:
    • Revenue: BRL2120 million (USD1085 million), -5.1% year-on-year;
      • Ancillary: BRL245.8 million (USD125.8 million), +4.4%;
    • Operating costs: BRL2477 million (USD1268 million), +9.2%;
      • Fuel: BRL933.5 million (USD477.9 million), +2.0%;
      • Labour: BRL388.5 million (USD198.9 million), -13.2%;
    • Operating profit (loss): (BRL357.6 million) (USD183 million), compared to a loss of BRL33.9 million (USD17 million) in p-c-p;
    • Net profit (loss): (USD447.1 million) (USD229 million), compared to a profit of BRL54.3 million (USD28 million) in p-c-p;
    • Passenger numbers: 9.3 million, -6.9%;
    • Load factor: 69.7%, +4.4 ppts;
    • Breakeven load factor: 81.5%, +15.2 ppts;
    • Yield: BRL 21.76 cents (USD11.1 cents), +2.3%;
    • Passenger revenue per ASK: BRL 15.17 cents (USD7.8 cents), +9.2%;
    • Revenue per ASK: BRL 17.16 cents (USD8.8 cents), +10.5%;
    • Cost per ASK: BRL 20.05 cents (USD 10.3 cents), +27.2%;
    • Cost per ASK excl fuel: BRL 12.49 cents (USD 6.4 cents), +32.9%;
  • 12 months ended 31-Dec-2012:
    • Revenue: BRL8104 million (USD4148 million), +7.5%;
      • Ancillary: BRL943.6 million (USD483.0 million), +14.2%;
    • Operating costs: BRL9009 million (USD4612 million), +15.7%;
      • Fuel: BRL3742 million (USD1916 million), +22.3%;
      • Labour: BRL1570 million (USD803.5 million), +0.6%;
    • Operating profit (loss): (BRL905.6 million) (USD464 million), compared to a loss of BRL244.5 million (USD125 million) in p-c-p;
    • Net profit (loss): (BRL1513 million) (USD774 million), compared to a loss of BRL751.5 million (USD385 million) in p-c-p;
    • Passenger numbers: 39.2 million, +8.1%;
    • Load factor: 70.2%, +1.8 ppts;
    • Breakeven load factor: 78.0%, +7.4 ppts;
    • Yield: BRL 19.68 cents (USD 10.1 cents), +1.0%;
    • Passenger revenue per ASK: BRL 13.81 cents (USD 7.1 cents), +3.6%;
    • Revenue per ASK: BRL 15.63 cents (USD 8.0 cents), +4.5%;
    • Cost per ASK: BRL 17.38 cents (USD 8.9 cents), +12.5%;
    • Cost per ASK excl fuel: BRL 10.16 cents (USD 5.2 cents), +8.4%;
  • 2013 forecast:
    • Operating margin: 1% to 3%;
    • GOL RASK variation: 10% or more;
    • CASK excl fuel: BRL 9.7 cents (USD 4.85 cents) to BRL 10.3 cents (USD 5.15 cents);
    • GOL domestic capacity variation: Around -7%;
    • Brazilian GDP growth: 2.5% to 3.0%;
    • Average exchange rate: USD1.95 to USD2.05. [more - original PR]

*Based on the average conversion rate at USD1 = BRL1.9535

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