SAO PAULO, Feb. 17, 2017 /PRNewswire/ -- GOL Linhas
Aereas Inteligentes S.A. ("GLAI"), (NYSE: GOL and
BM&FBOVESPA: GOLL4), Brazil's
No. 1 airline, announces today its consolidated results for the
fourth quarter (4Q16) and the full year of 2016. All information is
presented in accordance with International Financial Reporting
Standards (IFRS) and in Brazilian Reais (R$), and all comparisons
are with the fourth quarter and full year of 2015 unless otherwise
stated.
Operating and Financial Highlights
- Net loss for the quarter was R$30.2
million (US$ 8.7 million),
representing a negative 1.1% net margin. Earnings per share (EPS)
were R$(0.09) and earnings per ADS
were US$(0.003). Reported full-year
2016 net income was R$1.1 billion
(US$316.1 million), on revenues of
R$9.9 billion, representing a net
margin of 11.2%. Reported full-year 2016 earnings per share were
R$3.17 (US$0.09 per ADS)
- Operating result (EBIT) in 4Q16 was R$198.2 million, representing and EBIT margin of
7.4%. Full year 2016 EBIT reached R$696.5
million, representing a margin of 7.1%. Net cash flow in
4Q16 was R$93.8 million. Cash, cash
equivalents, short-term investments and accounts receivable totaled
R$1,922.4 million, an increase of
R$93.7 million over 3Q16.
- Operating cost per ASK (CASK), excluding non-operating
expenses, decreased 10.1% from 21.94
cents (R$) in 4Q15 to 19.73
cents (R$) in 4Q16. Non-fuel CASK, excluding non-operating
expenses, decreased 6.8% to 13.97
cents (R$) mainly due to lower level of aircraft rent per
ASK
- RPKs decreased 3.0% from 9,440 million in 4Q15 to 9,161 million
in 4Q16. ASKs decreased by 5.7% from 12,518 million in 4Q15 to
11,800 million in 4Q16. Average load factor increased 2.2
percentage points to 77.6% and average passenger yields increased
3.8% to 25.57 cents (R$), resulting
in RASK of 22.58 cents (R$), a 6.6%
increase versus 4Q15. Average fares were R$289.0.
- Net revenues reached R$2.7
billion, representing growth of 0.5%. Revenue per aircraft
of US$6.3 million represented a high
level of aircraft revenue productivity. Ancillary and cargo
revenues decreased by 1.3% over 4Q15 to R$321.7 million, representing 12.1% of total net
revenue. In the full year of 2016, ancillary and cargo revenues
totaled R$1.2 billion.
- GOL transported a total of 8.1 million passengers in 4Q16, and
15.4% decrease over 4Q15, and GOL's market share of the domestic
and international regular air transportation at the end of 4Q16 was
36.3% and 10.6%, respectively, up from 35.8% and 12.3% and the end
of 4Q15.
- On-time arrivals and flight completion averaged, respectively,
94.0% and 98.3% (ANAC data) during 4Q16. In 2016, GOL was the most
on-time airline in Brazil
according to OAG (Official Airline Guide). Passenger complaints and
lost baggage per 1,000 passengers averaged 1.7329 and 2.15,
respectively.
- Five Boeing 737 aircraft were returned to lessors during 4Q16,
reducing the total fleet to 121 operating aircraft. Seven 737s will
be returned during 1Q17. Total debt was reduced by R$2.9 billion during 2016 to R$6,379.2 billion.
- GOL's ADRs had an average daily trading volume of US$3.7 million during 4Q16, as compared to
US$493 thousand in 4Q15. GOL's PNs
had an average daily trading volume of R$19.5 million during 4Q16, as compared to
R$4.4 million in 4Q15.
- During 2016, for the 11th consecutive year, GOL conducted its
404 certification process. GOL was one of the first foreign private
issuers to assess the effectiveness of the Company's internal
control over financial reporting and meet the requirements of
Section 404 of the Sarbanes-Oxley Act of 2002.
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.