SAO PAULO, March 18, 2021 /PRNewswire/ -- GOL Linhas
Aéreas Inteligentes S.A. (NYSE: GOL and B3: GOLL4), ("GOL" or
"Company"), Brazil's largest
domestic airline, provides an Investor Update. All
information is presented in Brazilian Reais (R$). The information
below is preliminary and unaudited.
GOL's current capacity planning scenario assumes a 7% reduction
in 1Q21 compared to 4Q20. In January
2021, the Company operated approximately 493 daily flights
(59% of the same period in 2020). In February 2021, GOL operated approximately 355
flight/day, placing the Company's operations at approximately 48%
of the flight schedule in February
2020. In March/21, GOL implemented an even greater reduction
and operates approximately 250 flights/day, placing its operations
at approximately 40% of March/20. During this current month, GOL is
adapting its fleet and will operate 59 aircraft in its network to
control capacity and costs during this period of lower demand.
In 1Q21, the Company estimates an average operating fleet of 74
aircraft, which will represent 67% of the average fleet operated in
the same quarter of 2019. Revenue for the quarter ended
March 2021 is expected to decrease
approximately 10% compared to the quarter ended December 2020.
GOL expects to end 1Q21 with R$1.9
billion in liquidity and R$14.3
billion in adjusted net debt. Several important initiatives
are relevant to ensure that the Company maintains liquidity at the
levels expected for the end of 1Q21.
With the objective of assisting investors and analysts in
understanding how GOL is approaching its short-term planning, the
Company is also sharing the metrics below:
Metrics
|
4Q20A
|
1Q21E
Previous
|
1Q21E
Revised
|
Brazil Quarterly GDP
Growth1 (%)
Domestic Routes
Served (average)
% of 2019
Average Operating
Fleet
% of 2019
ASK (in
million)
% of 2019
Load Factor
(%)
|
+2.4%
~161
94%
~91
77%
~7,698
58%
~81%
|
+3.0%
~167
85%
~102
92%
~9,400
76%
~78%
|
+1.0%
~159
81%
~74
67%
~7,100
55%
~82%
|
Net Operating
Revenues (R$ BN)
% of 2019
Capex (R$
MM)
Net Cash Generation
(Burn) (R$/day)
|
~1.9
50%
~62
~3
|
~2.4
66%
~290
~(2)
|
~1.7
52%
~100
~(3)
|
Total
Liquidity2 (R$ BN)
Net Debt3
(R$ BN)
Net Debt / LTM EBITDA
Ratio3,4 (x)
|
~2.6
~13.0
~5.3x
|
~2.5
~13.1
~8x
|
~1.9
~14.3
~17x
|
(1)
Sequential; Source: Brazilian Central Bank.
|
(2)
Cash and cash equivalents, restricted cash, accounts receivable,
securities and receivables.
|
(3)
Excluding perpetual bonds and exchangeable notes.
|
(4)
Pro-forma, excluding non-operating expenses and
depreciation.
|
Investor Relations
ri@voegol.com.br
www.voegol.com.br/ir
+55(11) 2128-4700
Media Relations
Becky
Nye, Montieth & Company
bnye@montiethco.com
+1 646 864 3517
About GOL Linhas Aéreas Inteligentes S.A.
GOL serves more than 36 million passengers annually.
With Brazil's largest network, GOL
offers customers more than 750 daily flights to over 100
destinations in Brazil and in
South America, the Caribbean and the
United States. GOLLOG's cargo transportation and
logistics business serves more than 3,400 Brazilian municipalities
and more than 200 international destinations in 95 countries.
SMILES allows over 16 million registered clients to
accumulate miles and redeem tickets to more than 700 destinations
worldwide on the GOL partner network. Headquartered in São Paulo,
GOL has a team of approximately 14,000 highly skilled aviation
professionals and operates a fleet of 128 Boeing 737 aircraft,
delivering Brazil's top on-time
performance and an industry leading 20-year safety record. GOL has
invested billions of Reais in facilities, products and services and
technology to enhance the customer experience in the air and on the
ground. GOL's shares are traded on the NYSE (GOL) and the B3
(GOLL4). For further information, visit www.voegol.com.br/ir.
Disclaimer
The information contained in this press
release has not been subject to any independent audit or review and
contains "forward-looking" statements, estimates and projections
that relate to future events, which are, by their nature, subject
to significant risks and uncertainties. All statements other than
statements of historical fact contained in this press release
including, without limitation, those regarding GOL's future
financial position and results of operations, strategy, plans,
objectives, goals and targets, future developments in the markets
in which GOL operates or is seeking to operate, and any statements
preceded by, followed by or that include the words "believe",
"expect", "aim", "intend", "will", "may", "project", "estimate",
"anticipate", "predict", "seek", "should" or similar words or
expressions, are forward-looking statements. The future events
referred to in these forward-looking statements involve known and
unknown risks, uncertainties, contingencies and other factors, many
of which are beyond GOL's control, that may cause actual results,
performance or events to differ materially from those expressed or
implied in these statements. These forward-looking statements are
based on numerous assumptions regarding GOL's present and future
business strategies and the environment in which GOL will operate
in the future and are not a guarantee of future performance. Such
forward-looking statements speak only as at the date on which they
are made. None of GOL or any of its affiliates, officers,
directors, employees and agents undertakes any duty or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except to
the extent required by law. None of GOL or any of its affiliates,
officers, directors, employees, professional advisors and agents
make any representation, warranty or prediction that the results
anticipated by such forward-looking statements will be achieved,
and such forward-looking statements represent, in each case, only
one of many possible scenarios and should not be viewed as the most
likely or standard scenario. Although GOL believes that the
estimates and projections in these forward-looking statements are
reasonable, they may prove materially incorrect and actual results
may materially differ. As a result, you should not rely on these
forward-looking statements.
Non-GAAP Measures
To be consistent with industry
practice, GOL discloses so-called non-GAAP financial measures which
are not recognized under IFRS or U.S. GAAP, including "Net Debt",
"Adjusted Net Debt", "total liquidity" and "EBITDA". The Company's
management believes that disclosure of non-GAAP measures provides
useful information to investors, financial analysts and the public
in their review of its operating performance and their comparison
of its operating performance to the operating performance of other
companies in the same industry and other industries. However, these
non-GAAP items do not have standardized meanings and may not be
directly comparable to similarly-titled items adopted by other
companies. Potential investors should not rely on information not
recognized under IFRS as a substitute for the GAAP measures of
earnings or liquidity in making an investment decision.
View original
content:http://www.prnewswire.com/news-releases/gol-announces-investor-update-301250161.html
SOURCE GOL Linhas Aéreas Inteligentes S.A.