SÃO PAULO, Nov. 9, 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.
The pace of the recovery is expected to increase in 4Q21,
supported by the growth of the country's vaccination rate, entry
into Brazil's summer high season
and the return of international flights. GOL's 4Q21 capacity plan
is up by 29% over 4Q20. To meet expected demand, GOL will have 102
aircraft operating its network at the end of the period,
representing 112% of the average fleet in 4Q20 and up by 36% over
3Q21.
We expect loyalty program revenue of over R$600 million in 4Q21 and the Company's
consolidated revenue for 4Q21 is expected to increase around 40%
year-on-year.
GOL expects to close 4Q21 with R$3.8
billion in liquidity and R$15.8
billion in adjusted net debt. We estimate that our frequent
flyer program will achieve gross revenues of over R$2.5 billion in 2022.
With the objective of assisting investors and analysts in
understanding how GOL is approaching its short-term planning, the
Company is sharing these metrics:
Metrics
|
4Q21E
|
Brazil GDP Variation¹
vs 2020 (%)
|
+2.6%
|
Domestic Routes
Served (average)
|
~174
|
Average Operating
Fleet (EoP)
|
~102
|
ASK Total
(bi)
|
~9.6
|
Load Factor
(%)
|
~82%
|
Operating CASK
Ex-fuel² vs 2020
|
Reduction of
~12%
|
Gross Global Scope 1
emissions (000 m t CO2)
|
~666.3
|
Total Fuel Consumed
(1,000 liters per RPK)
|
~33.3
|
Greenhouse Gas
Emissions/Flight Hour (t CO2)
|
~8.2
|
Net Operating
Revenues (R$ BN)
|
~2.6
|
Other Revenue (cargo,
loyalty, other)
|
~8% of
revenue
|
EBITDA² (R$
bi)
|
~0.8
|
CAPEX (R$
MM)
|
~0.4
|
Total
Liquidity3 (R$ BN)
|
~3.8
|
Net Debt4
(R$ BN)
|
~15.8
|
Net Debt / LTM EBITDA
Ratio 4,5,6 (x)
|
~5.2x
|
|
(1) Versus the
same period last year; Source: Brazilian Central Bank. (2)
Excluding non-operating expenses and depreciation related to fleet
idleness and personnel-related costs of approximately R$978 million
in 4Q21, R$665 million in 4Q20. (3) Cash and cash equivalents,
restricted cash, accounts receivables and deposits (does not
include unencumbered assets). (4) Excluding perpetual bonds and
exchangeable notes. (5) Pro-forma, excluding non-operating expenses
and depreciation, (6) 4Q21E EBITDA annualized.
|
Investor Relations
ri@voegol.com.br
www.voegol.com.br/ir
+55(11) 2128-4700
About GOL Linhas Aéreas Inteligentes S.A.
GOL is
Brazil's largest airline, leader
in the corporate and leisure segments. Since its founding in 2001,
it has been the airline with the lowest unit cost in Latin America, which has enabled the
democratization of air transportation. The Company has alliances
with American Airlines and Air France-KLM, in addition to making
available to Customers many codeshare and interline agreements,
bringing more convenience and ease of connections to any place
served by these partnerships. With the purpose of "Being First for
Everyone", GOL offers the best travel experience to its passengers,
including: the largest inventory of seats and the most legroom; the
most complete platform with internet, movies and live TV; and the
best loyalty program, SMILES. In cargo transportation, GOLLOG
delivers parcels to various regions in Brazil and abroad. The Company has a team of
15,000 highly qualified airline professionals focused on Safety,
GOL's number one value, and operates a standardized fleet of 127
Boeing 737 aircraft. GOL's shares are traded on the NYSE (GOL) and
the B3 (GOLL4). For further information, visit
www.voegol.com.br/ri.
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.
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SOURCE GOL Linhas Aéreas Inteligentes S.A.