The Brazilian airline GOL reduces its losses 94.8% until June

Check upward its outlook for 2019 and 2020 for oil and the depreciation of the Brazilian real

The Brazilian airline GOL has reduced its ‘red numbers’ by 94.8% in the first half, with losses of 85.6 million Brazilian reais (19.8 million euros). In the second quarter, the company cut its losses 89.9%, to 194.6 million Brazilian reais (45 million euros), according to data published by the airline.

From January to June, its turnover amounted to 19.4%, to 6,352 million Brazilian reais (1,471 million euros), with an increase of 21.2% of revenue per ticket. In the second quarter, the turnover was 3,100 million Brazilian reais (718 million euros), its highest recorded for a second quarter, 33.4% more than in 2018.

Net operating income (Ebit) was 825.1 million Brazilian reais (191 million euros), 38.7% more compared to the first half of 2018. On the other hand, the gross operating result (Ebitda ) was 1,646 million Brazilian reais (381.2 million euros), 39.5% more.

In terms of costs, they reached 5,526 million Brazilian reals (1,279 million euros), an increase of 21.7% compared to the first six months of 2018. The fuel item was 1,972 million Brazilian reals (456, 7 million euros), an increase of 17.6%.

CHECK UP FORECASTS

Brazil’s main national airline has revised its financial outlook for 2019 and 2020 to reflect the variation in oil prices, the depreciation of the Brazilian real and the adjustments to its fleet plan. In fact, it has raised its planned fleet for this year in service to 125-127 aircraft (from 124-127 initially planned) and for 2020 to the range of 131-136 aircraft (from 128-131).

The Brazilian company expects to reach revenues of 13,500 million Brazilian reals (3,126 million euros) this year and 15,500 million Brazilian reals (3,590 million euros) in 2020, revising upwards its forecast made at the beginning of the year (13,000 million euros). reais-14,500 million reais).

GOL has covered approximately 67% of its fuel consumption for the rest of 2019, at an average cost of $ 62 and 56% of its fuel consumption for the year 2020, at an average cost of $ 64.