SAO PAULO, March 7, 2018 /PRNewswire/ -- GOL Linhas
Aéreas Inteligentes S.A. (NYSE: GOL and B3: GOLL4), Brazil's #1 airline, announces its
consolidated results for the fourth quarter (4Q17). All information
is presented in accordance with IFRS.
Financial and Operational Highlights:
- Significantly improved operating indicators: for the quarter,
RPKs increased by 8.0% (from 9.2 billion in 4Q16 to 9.9 billion in
4Q17), mainly due to a 6.2% increase in the number of passengers.
GOL achieved this strong growth in demand despite its continued
focus on pricing; average yield per passenger increased by 3.1% in
the quarter compared to 4Q16, reaching 26.36
cents (R$).
- Strong revenue growth: the combination of higher demand and
improved pricing resulted in net revenue for the quarter of
R$3.0 billion, an increase of 11.8%
compared to 4Q16. For full-year 2017 the figure was R$10.6 billion, 7.2% higher than the prior year.
GOL's current 2018 guidance is for net revenue of approximately
R$11 billion.
- Controlled cost environment: total CASK in 4Q17 was
21.21 cents (R$), just 1.4% higher
than in 4Q16, in spite of a less benign jet fuel environment. GOL
remains the cost leader in South
America for the 17th consecutive year.
- Continued margin expansion: GOL's EBIT margin continued to
expand, reaching 13.0% in 4Q17, the highest fourth-quarter
indicator since 2011 and a 5.6 pp improvement over 4Q16. Operating
income (EBIT) in 4Q17 was R$388.0
million, an increase of 95.7% compared to 4Q16.
- Balance sheet strengthening: net debt (excluding perpetual
bonds) to LTM EBITDA was 3.0x in 4Q17, improving both versus the
3Q17 (3.4x) and the 4Q16 (4.2x). Total liquidity, including cash,
financial investments, restricted cash and accounts receivable,
totaled R$3.2 billion, an increase of
51% versus 9/30/17 and up 66% versus
12/31/16.
"We expect to continue to drive our efficiency and technology
advantage this year, as well as incorporating the new Boeing 737
MAX 8s in the second half of 2018. With a range of up to 6,500 km,
the new 737 MAX 8 aircraft will allow GOL to offer non-stop flights
from Brazil to any destination in
Latin America, as well as to our
recently announced destinations in Florida," commented Paulo Kakinoff, CEO.
Access to 4Q17 earnings release, management videos,
presentation and full financials already available on:
www.voegol.com.br/ir
4Q17 Earnings Call: March 7,
2018, 9:00 a.m. (US EDT),
Phone: +1 (412) 317-5453, Code: GOL
About GOL Linhas Aéreas Inteligentes S.A.
(www.voegol.com.br): Brazil's
largest airline group with three main businesses: passenger
transportation, cargo transportation and coalition loyalty
program.
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SOURCE GOL Linhas Aéreas Inteligentes S.A.