Highlights:
- The Company's net operating revenue reached R$3.2 billion in 2Q22, exceeding by 215% and 3%
the amounts recorded in 2Q21 and 2Q19, respectively;
- GOL confirmed
the growth in corporate demand
and transported 5.8 million passengers in the quarter,
more than double
that of 2Q21 and still 30% below the volume of 2Q19;
- The disciplined capacity management associated with the
consistent recovery in demand resulted in an average yield per
passenger of R$43 cents, a record for
the Company and a positive growth of 66% over 2Q21;
- Operating results improved, with
recurring EBIT at R$50.8 million (margin of 1.6%) and recurring EBITDA at R$439.0 million (margin of 13.5%, positive
for the third consecutive quarter); and
- GOL took delivery of three new Boeing 737 MAX-8 aircraft in the
quarter and totaled 34 (24% of
the current fleet), driving
operating cost efficiencies and less carbon
emissions.
SÃO PAULO, July 28, 2022 /PRNewswire/ --
GOL Linhas Aéreas Inteligentes S.A. ("GOL" or "Company") (NYSE: GOL and B3: GOLL4),
the largest domestic airline in Brazil, released its consolidated results for
the second quarter of 2022 (2Q22). During this period, and
while taking an assertive approach to capacity management and
increasing productivity, the Company
recorded the highest
yield in its history as well as the highest
net operating revenue in a second quarter.
Paulo Kakinoff, Board Member, said: "In June, I ended my 10-year
term as an executive at GOL and I would like to express my deep
gratitude to the entire Team of Eagles, who have been by my side,
both in the most challenging moments and for the countless wins
that we have achieved together. With the confidence that we have
now overcome one of the most difficult periods in the history of
the aviation industry, I am handing over the controls to a new
generation of leadership who will lead GOL in the next cycle of
sustainable growth."
Celso Ferrer, CEO, added: "I have
had the privilege of working with Kakinoff for more than seven
years and witnessed his unparalleled leadership skills. I took on
the role of CEO with the commitment to focus on three main pillars:
growth, consistency and proximity, and look forward to sharing more
with you about my vision for these over the coming quarters. GOL's
strength has always been our commitment to serving our Customers
and being the best for all, and that will continue to be our
guiding light as a Company. It is an exciting time for the airline
industry as a whole, and with the help of our Team of Eagles, I am
confident in leading GOL to even greater heights."
All information in this press release is presented in Brazilian
Reais (R$), as per the international accounting standards (IFRS)
and with adjusted metrics, made available to enable the comparison
of this quarter with the same year-ago quarter (2Q21). Adjusted
(recurring) indicators exclude non-recurring expenses linked to the
quarter's results and are detailed in their respective tables.
Summary for the Second Quarter
2022 Results
- Revenue Passenger Kilometers
(RPK) grew 103.0%, while the total Available
Seat Kilometers (ASK) grew by 123.7%;
- Net Revenue more than tripled to R$3.2
billion. Ancillary Revenue, mainly from SMILES
and GOLLOG, grew 75% to R$246.4
million;
- The average load factor fell by
7.9 p.p. to 77.2%. Domestic load factor fell by 8.5 p.p. compared to 2Q21, while the international load
factor was 86.7%;
- Aircraft utilization was 10.2 hours a day, a gain of 27.5% in
productivity;
- The number of passengers transported
by GOL doubled to 5.8 million,
equivalent to 71.4% of the pre- pandemic number recorded in 2Q19;
- Net Revenue per Available Seat-Kilometer
(RASK) grew by 41% to R$35.94 cents;
- Average yield per passenger grew by 66.2% to R$43 cents, which is a record for the
Company;
- Recurring Cost per Seat-Kilometer fell by 20.4% to R$35.38 cents. CASK Fuel grew by 72.2% to
R$16.06 cents, due to the 80.5%
increase in jet fuel (QAV) prices;
- Recurring EBIT was positive by R$50.8
million with 1.6% margin, while recurring EBITDA was
positive by R$439 million with 13.5%
margin;
- Net Loss reached R$2.8 billion,
loss per share reached R$6.81 and
loss per ADS reached US$2.77, mainly
due to exchange and monetary variations; and
- The net debt ratio (including 7x annual lease payments and
excluding the perpetual bonds) over recurring EBITDA LTM reached
9.5x on June 30, 2022, down by 1.6x
compared to March 31, 2022 (11.1x),
mainly due to the sequential recovery of recurring
EBITDA.
EARNINGS RELEASE & PRESENTATION
Access the earnings release,
presentation and full financial statements at: www.voegol.com.br/ri
2Q22 Conference Call: July 28, 2022, 10:00 a.m.
(New York time; US EDT), Phone: +1
(412) 317-6382, Code: GOL, broadcast via webcast
(https://webcastlite.mziq.com/cover.html?webcastId=bc6af7b7-cbdb-4c09-9bbd-29e85939673a).
Investor Relations: ri@voegol.com.br, +55(11)
2128-4700
About GOL Linhas Aéreas Inteligentes
S.A. (www.voegol.com.br): The largest airline
in Brazil, leader in the corporate and leisure segments. Since
founded in 2001, the Company has the lowest unit
cost
in Latin America, thus democratizing air transportation.
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SOURCE GOL Linhas Aéreas Inteligentes S.A.