GOL Expects Passenger Unit Revenue To Grow 35% In Q4

By Akanksha Bakshi
  • Gol Linhas Aereas Inteligentes SA (NYSE:GOL) provided preliminary results for 4Q21.
  • The company expects a Loss Per Share of ~R$(1.33) and a Loss Per American Depositary Share (EPADS) of $(0.48). 
  • The company anticipates an EBITDA margin of ~ 35%.
  • The company expects passenger unit revenue to be up ~35% year over year, CASK ex-fuel to decrease by ~12%, primarily due to increased productivity, Fuel unit costs to increase by ~55%, driven by a 75% increase in the average fuel price.
  • Total Demand – RPK expected to be up ~15.4% Y/Y; Total Capacity – ASK up 13.2% Y/Y; and Total Capacity – Seats up by 20.9% Y/Y.
  • GOL's financial leverage Net Debt/EBITDA ratio was ~5.6x at the end of Q4.
  • The company amortized ~R$200 million of debt in the quarter. It expects total liquidity at quarter-end to be at R$3.6 billion.
  • Price Action: GOL shares are trading lower by 2.73% at $5.52 on the last check Monday.

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