Gol Cuts Losses by 63.7% in Q1 Thanks to Surge in Demand
Brazilian airline Gol Linhas Aéreas reported a net loss of 1.376 billion reais (approximately $244 million) for the first quarter of the year. Although the result remains negative, it marks a significant improvement of 63.7% compared to the same period in 2024, according to a statement released by the company on Thursday.
This progress is primarily attributed to a 12% increase in aircraft occupancy and a nearly 50% rise in international flight offerings. Both factors are part of the airline’s route network restructuring and expansion plan, a key pillar of its current strategy.
More Flights and Passengers: Signs of Recovery
From January to March, Gol recorded a total of 56,400 takeoffs, representing a 9.1% increase compared to the first quarter of the previous year. Simultaneously, the number of passengers carried reached 8 million, an 11% rise. These figures reflect sustained recovery in air travel demand, particularly in international markets.
→ GOL Reinstates Direct Route Between Porto Alegre and Buenos Aires After 9 Years
Revenue Rises, but Operational Profitability Under Pressure
During the same period, the airline’s net revenue grew by 19.4%, reaching 5.629 billion reais (approximately $999.8 million). This increase in revenue reflects the positive impact of higher flight volumes and passenger numbers, as well as the gradual recovery of the sector.
However, EBITDA—a key indicator of operational performance—slightly declined by 0.2%, settling at 1.236 billion reais (about $219.5 million). This suggests that despite the revenue rebound, operational efficiency challenges persist.
Growing Debt: The Major Financial Challenge
One critical issue remains the level of indebtedness. Gol’s gross debt rose by 40.2% over the past twelve months, reaching 33.226 billion reais (approximately $5.901 billion) by the end of March. This underscores the need for continued cost optimization and liability refinancing to achieve sustainable financial recovery.
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