March 26, 2013

GOL increases RASK by 10.5% in 4Q12

GOL Linhas Aereas Inteligentes S.A. announced its results for the fourth quarter of 2012. Revenue per available seat-kilometer (RASK) grew by 10.5% over 4Q11, owing to the strategy of rationalizing supply adopted in March 2012. In 4Q12, GOL incurred additional costs of R$197mm due to the winding up of Webjet’s operations and impairment of assets. Excluding these items, GOL recorded an adjusted operating loss of R$160.1mn, with a negative margin of 7.6%. In 2012 as a whole, the adjusted operating loss came to R$708.9mn, with a negative margin of 8.7%. GOL created Smiles S.A., a new subsidiary responsible for conducting the Company’s loyalty program. In February, 2013, the Board of Directors approved the initiation of the necessary procedures in preparation for an IPO.

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