Brazil’s GOL reported a first-quarter net loss of BRL$41.4 million ($21.4 million), reversed from a BRL$69.4 million net profit in the year-ago period. Cost pressure from oil prices and unfavorable exchange rates were suggested as contributing factors.
Consolidated revenue rose 14.3 % to BRL$2.16 billion while expenses increased 22.6% to BRL$2.15 billion, producing a consolidated operating income of BRL$7.3 million, down from BRL$135.3 million in the prior-year quarter.
Yield rose 2.5% to BRL0.203 as RASKs lowered 1.9% to BRL0.155 and CASKs increased 6.6 % to BRL0.154. CASK ex-fuel was BRL0.086 cents, down 3.9%.
First-quarter traffic increased 10.3% to 9.5 billion RPKs against a 15.1% increase in capacity to 14 billion ASKs.
The carrier’s fleet comprised 151 aircraft at the close of the quarter compared to 125 in the year-ago quarter.
Consolidated numbers include wholly owned subsidiary Webjet. CEO Constantino Oliveira Junior said that “at the beginning of March, GOL and Webjet announced a reduction of around 100 flights in order to keep domestic supply in 2012 flat in relation to the previous year, compatible with the new domestic demand scenario.” He said, however, that the new target for the year “is to reduce domestic supply by 2%.”
Article Source : ATW Daily News
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