SAO PAULO, Feb. 17, 2017 /PRNewswire/ -- GOL Linhas
Aereas Inteligentes S.A., (BM&FBOVESPA: GOLL4 and NYSE: GOL),
Brazil's No. 1 airline, today
announces a revision on its 2017 financial guidance:
GOL has worked diligently to match fleet growth with GDP growth,
and management believes it has successfully matched GOL's supply of
seats with demand, as indicated by the Company's high load factors.
2017 guidance reflects the continuance of rational strategy, with a
supply forecast matching GDP growth and the expected demand for
seats. We expect to reduce our non-fuel cost per available seat
kilometer (CASK) as we reduce the age of our fleet, operate an even
more fuel efficient fleet, benefit from cost savings associated
with our aircraft maintenance facility, and improve upon our
cost-efficient distribution channels. We anticipate a solid first
quarter, thanks to the dedicated effort of our employees to improve
productivity throughout the Company.
For the first quarter of 2017, we expect load factors in the
range of 80%, with passenger yields in the range of R$24 cents. In January, GOL had load factors of
83% and strong forward bookings for February and March. For the
first quarter, we expect non-fuel CASK in the range of R$14.5 cents. We expect the increase in jet fuel
prices will increase our fuel costs per ASK by 7.5% in 1Q17.
Financial guidance for 2017 is based on GOL's capacity plan and
the expected demand for our passenger transportation services,
driven by the weak Brazilian economic environment. For 2017, we
expect to reduce capacity by 0-2%. Passenger yields are expected to
increase 6%, primarily due to an increase in average fare,
partially offset by an increase in stage length, and RASK is
expected to increase in the range of 7%. Full-year non-fuel CASK is
expected to be in the R$14 cent (R$)
range, representing a stable level versus 2016. Fuel costs per ASK
are expected to increase approximately 18% in the year, due to
increases in oil prices.
Financial
Outlook
|
Preliminary
Guidance Full year
2017
|
Revised
Guidance Full year
2017
|
Average
fleet
|
115
|
115
|
Variation in supply
(ASK)
|
0% to -2%
|
0% to -2%
|
Variation in total
seats
|
-3% to -5%
|
-3% to -5%
|
Variation in volume of
departures
|
-3% to -5%
|
-3% to -5%
|
Average Load
Factor
|
77% to 79%
|
77% to 79%
|
Net Revenues
(billion)
|
-
|
+/- R$10
|
Non-fuel CASK (R$
cents)
|
-
|
+/- 14
|
EBITDA
Margin
|
-
|
11% to 13%
|
Operating (EBIT)
Margin
|
5% to 7%
|
6% to 8%
|
Given the volatility of the Brazilian economy, the current above
guidance for 2017 may be adjusted in order to incorporate the
evolution of its operating and financial performance and any
eventual changes in GDP growth, interest rates, exchange rate, and
WTI and Brent oil price trend.
For further information visit
www.voegol.com.br/ir
CONTACTS
INVESTOR RELATIONS
Phone: +55 (11) 2128-4700
E-mail: ri@voegol.com.br
About GOL Linhas Aereas Inteligentes S.A. ("GLAI")
Brazil's largest air
transportation and travel services group with three main
businesses: passenger transportation, cargo transportation and
coalition loyalty program. GOL is Brazil's largest airline, carrying 32mm p.a.
on more than 700 daily flights to 63 destinations in Brazil and 11 destinations in South America and the Caribbean on a fleet of over 120 Boeing 737
aircraft, with a further 120 Boeing 737s on order. GOLLOG is a
leading cargo transportation and logistics business serving more
than 3,000 Brazilian municipalities and, through partners, 90
international destinations in 47 countries. SMILES is one of the
largest coalition loyalty programs in Latin America, with over 11 million registered
participants, allowing clients to accumulate miles and redeem
tickets for more than 700 locations worldwide. GOL has a team of
more than 14,000 highly skilled aviation professionals delivering
Brazil's top on-time performance,
and an industry leading 16 year safety record. GOL's shares are
traded on the NYSE (GOL) and the BM&FBOVESPA (GOLL4).
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SOURCE GOL Linhas Aereas Inteligentes S.A.