SAO PAULO, Oct. 5, 2017 /PRNewswire/ -- GOL Linhas
Aereas Inteligentes S.A. (NYSE: GOL and B3: GOLL4),
Brazil's #1 airline, provides its
Investor Update. The information below for the quarter ended
in September 2017 is preliminary and
unaudited.
Overall Commentary
- GOL expects an operating margin for the quarter ended in
September of 12.0%-12.5%, an increase of approximately 3.0 p.p.
over the quarter ended in September
2016 (9.1%), excluding non-recurring expenses.
- Passenger unit revenue (PRASK) for the third quarter was up
6.0%-6.5% year over year, as GOL's capacity discipline and revenue
management strategies continue to benefit results. For the
quarter ended in September, GOL expects unit revenue (RASK) to
increase 8.5% -9.0%.
- Non-fuel unit costs (CASK ex-fuel), excluding non-recurring
expenses, are expected to be reduced by approximately 6% in
relation to the second quarter 2017, and are expected to be
increased approximately 3% versus same quarter of the prior
year(1).
- GOL reduced its total debt, including finance and operating
leases, by approximately R$285
million in the quarter, totaling R$5.0 billion in debt reduction in the last 21
months.
Preliminary and
Unaudited Projection
|
EBITDA Margin
(excluding non-recurring)
EBIT Margin
(excluding non-recurring)
Ancillary Revenue
(cargo and other)
Aircraft
Rent
Average fuel price
per liter
Average exchange
rate
Non-recurring
expenses
Passenger unit
revenue (PRASK)
CASK Ex-fuel
(excluding non-recurring expenses) (1)
Capacity –
ASK
Capacity –
Seats
|
September Quarter
2017
17.0%-17.5%
12.0%-12.5%
14.5%-15.0% of
total net revenues
~ R$240
million
R$2.00-R$2.05
R$3.19
R$5-R$10
million
September Quarter
2017
vs. September
Quarter 2016
Up
6.0%-6.5%
Up ~3%
Up ~4%
Up ~4%
|
(1) Excluding R$ 72 MM of
non-recurring gains or losses from the sale of fixed assets, return
of aircraft under lease contracts and sale-leaseback transactions
for the quarter ended in September
2016.
For further information visit
www.voegol.com.br/ir
CONTACTS
INVESTOR RELATIONS
Phone: +55 (11) 2128-4700
E-mail: ri@voegol.com.br
CORPORATE COMMUNICATIONS
Phone: +55 (11) 2128-4183
E-mail: comcorp@voegol.com.br
About GOL Linhas Aereas Inteligentes S.A.
Brazil's largest airline group
with three main businesses: passenger transportation, cargo
transportation and coalition loyalty program. GOL is
Brazil's largest airline, carrying
33 million passengers annually on more than 700 daily flights to 63
destinations, 52 in Brazil and 11
in South America and the
Caribbean, on a fleet of 120
Boeing 737 aircraft, with a further 120 Boeing 737 MAX on order.
GOLLOG is a leading cargo transportation and logistics
business serving more than 2,200 Brazilian municipalities and,
through partners, 205 international destinations in 95 countries.
SMILES is one of the largest coalition loyalty programs in
Latin America, with over 13
million registered participants, allowing clients to accumulate
miles and redeem tickets for more than 700 locations worldwide. GOL
has a team of more than 15,000 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 B3
(GOLL4).
Disclaimer
This release contains forward-looking statements relating to the
prospects of the business, estimates for operating and financial
results, and those related to growth prospects of GOL. These are
merely projections and, as such, are based exclusively on the
expectations of GOL's management. Such forward-looking statements
depend, substantially, on external factors, in addition to the
risks disclosed in GOL's filed disclosure documents and are,
therefore, subject to change without prior notice. The Company's
non-financial information was not reviewed by the independent
auditors.
Non-GAAP Measures
To be consistent with industry practice, we disclose so-called
non-GAAP financial measures which are not recognized under IFRS or
U.S. GAAP, including "Net Debt", "Adjusted Net Debt", "total
liquidity", "EBITDA" and EBITDAR". Our management believes that
disclosure of non-GAAP measures provides useful information to
investors, financial analysts and the public in their review of our
operating performance and their comparison of our operating
performance to the operating performance of other companies in the
same industry and other industries. However, these non-GAAP items
do not have standardized meanings and may not be directly
comparable to similarly-titled items adopted by other companies.
Potential investors should not rely on information not recognized
under IFRS as a substitute for the GAAP measures of earnings or
liquidity in making an investment decision.
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SOURCE GOL Linhas Aereas Inteligentes S.A.