Brazil’s GOL Linhas Aéreas Inteligentes reported a 2011 fourth-quarter net income of BRL$54.3 million ($29.9 million), down 40% from BRL$132 million in the year-ago period.
Net revenue rose 19.5% to BRL$2.2 billion, but expenses increased 41% to BRL$2.27 billion, producing an operating loss of BRL$33.9 million versus BRL$261.9 million a year ago.
For the full year, GOL posted an adjusted loss of BRL710 million ($390.3 million) in 2011, compared with a profit of BRL214.2 million in 2010. The airline said the loss was due to the impact of the real's depreciation against the dollar, rising fuel costs, and non-recurring expenses such as the return of aircraft and contract termination fees.
Fourth-quarter traffic rose 0.7% to 8.1 billion RPKs on a 6.0% increase in capacity to 12.6 billion ASKs, producing a load factor of 64.3% down 3.4 percentage points. Yield rose 1.8% up to R$21.4 cents, while RASK went down 0.2% to R$15.65 cents. CASK went up 17.8% to R$15.89 cents. CASK ex-fuel went up 10.4% to R$9.47 cents.
Highlights of the quarter included the conclusion of 100% acquisition of Webjet in October 2011 and a long-term strategic partnership with Delta Air Lines in December 2011.
Article Source : ATW Daily News
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