GOL announces Material Fact - Investor Update

Date : 01/10/2018 @ 6:59AM
Source : PR Newswire (US)
Stock : Gol Linhas Aereas Inteligentes S.A. Sponsored Adr Representing 2 Pfd Shares (GOL)
Quote : 6.19  -0.07 (-1.12%) @ 4:02PM
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GOL announces Material Fact - Investor Update

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6 Months : From Dec 2017 to Jun 2018

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SAO PAULO, Jan. 10, 2018 /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 December 2017 is preliminary and unaudited.

Overall Commentary


  • GOL expects an operating margin for the quarter ended in December of 13.2%-14.2%, an increase of approximately 1.0 p.p. over the quarter ended in December 2016 (12.8%), excluding non-recurring expenses.


  • Passenger unit revenue (PRASK) for the fourth quarter are expected to be up 7.0%-7.5% year over year, as GOL's capacity discipline and revenue management strategies continue to benefit results. For the quarter ended in December, GOL expects unit revenue (RASK) to increase 7.0%-7.5%.


  • Non-fuel unit costs (CASK ex-fuel), excluding non-recurring expenses, are expected to increase by approximately 1.0% in relation to the third quarter 2017, and are expected to increase approximately 1.6% versus same quarter of the prior year.


  • GOL reduced its financial leverage, as measured by the Net Debt¹/LTM EBITDA ratio, to approximately 3.0x at the end of the December 2017 quarter.



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)

Capacity – ASK

Capacity – Seats


December Quarter 2017



12.0% -12.2% of total net revenues

~ R$230 million



R$30-35 million


December Quarter 2017

vs. December Quarter 2016

Up 7.0%-7.5%

Up ~1.6%

Up ~3%

Up ~2%


1 - Excluding perpetual notes.

Investor Relations
+55(11) 2128-4700

About GOL Linhas Aereas Inteligentes S.A.

Brazil's largest airline group. GOL is Brazil's largest airline, carrying 33 million passengers annually on more than 700 daily flights to 64 destinations, 53 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 2,400 Brazilian municipalities and, through partners, 205 international destinations in 95 countries. SMILES is one of the largest coalition loyalty programs in Latin America, with 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).



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.

Cision View original content:http://www.prnewswire.com/news-releases/gol-announces-material-fact----investor-update-300580648.html

SOURCE GOL Linhas Aereas Inteligentes S.A.

Copyright 2018 PR Newswire

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