SAO PAULO, April 9, 2019 /PRNewswire/ -- GOL Linhas
Aéreas Inteligentes S.A. (NYSE: GOL and B3: GOLL4),
Brazil's premier domestic airline,
provides its Investor Update. The information below for the
quarter ended in March 2019 is
preliminary and unaudited. For comparison purposes, the results for
the first quarter 2018 results were adjusted in accordance with
IFRS 16.
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Overall
Commentary¹
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- GOL expects an EBITDA margin for the
quarter of 29% to 30%, an increase in relation to the quarter ended
in March 2018 (28%).
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- Passenger unit revenue (PRASK) for the first
quarter is expected to be up approximately 3% year over year.
For the quarter ended in March, GOL expects unit revenue
(RASK) to increase approximately 3%.
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- Non-fuel unit costs (CASK ex-fuel), are
expected to increase by approximately 3% in relation to the first
quarter of the prior year, primarily due to the depreciation of the
Brazilian real in the year-over-year comparison.
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- GOL's financial leverage, as measured by the
Net Debt3/LTM EBITDA ratio, was approximately 3.2x (IFRS
16) at the end of the March 2019 quarter. The Company amortized
R$203 million of debt in the quarter and total liquidity at
quarter-end is expected to be at R$3.5 billion.
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Preliminary and
Unaudited Projection
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March Quarter
2019
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EBITDA
Margin²
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29% -
30%
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EBIT
Margin²
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16%
- 17%
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Ancillary Revenue
(cargo and other)
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6% of total net
revenues
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Average fuel price
per liter
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R$2.70 -
R$2.78
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Average exchange
rate
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R$3.77
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March Quarter
2019
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vs. March Quarter
2018
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Passenger unit
revenue (PRASK)
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Up ~3.0%
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CASK
Ex-fuel²
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Up ~3.0%
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Total Capacity –
ASK
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Up ~5.0%
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Total Capacity –
Seats
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Up
~3.0%
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1. For comparison purposes, 1Q18 results adjusted in accordance
with IFRS 16, unaudited.
2. Excluding non-recurring expenses of approximately R$40 million.
3. Excluding perpetual notes.
Investor Relations
ri@voegol.com.br
www.voegol.com.br/ir
+55(11) 2128-4700
About GOL Linhas Aéreas Inteligentes
S.A. (www.voegol.com.br): Brazil's largest airline group with three main
businesses: passenger transportation, cargo transportation and
coalition loyalty program.
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SOURCE GOL Linhas Aéreas Inteligentes S.A.