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Gol Announces Strong Profit On 2Q - US$ 185 Mm  
User currently offlineLipeGIG From Brazil, joined May 2005, 11440 posts, RR: 58
Posted (5 years 1 month 3 weeks 23 hours ago) and read 2094 times:
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GOL just announce their Second Quarter Results. The airline publish strong results due to synergies, lower costs and a help from US$/R$ rate (their debit is in US$ so every time the R$ become strong, reduces the total debt which in the end increases the profit)

R$ 353.7 million produces as of June 30 a US$ amount around 185 million.

From the airline website:
GOL’s 2Q09 operating result (EBIT) was positive and totaled
R$89.9mm, with an operating margin of 6.5%,versus a operating loss of
R$295.3mm and a negative margin of 20.2% in 2Q08 and totaled R$105.1mm
with a margin of 6.9% in 1Q09. Despite the second quarter is the less favorable
of the year due seazonality, the Company achieved positive operating result for
the fourth consecutive quarter.
EBITDAR margin stood at 18.6% (R$258.8mm), versus a negative
7.8% in 2Q08 (a negative EBITDAR of R$114.4mm) and a positive margin of
23.7% (R$359.3mm) in 1Q09.
GOL posted a 2Q09 net income of R$353.7mm, with a net margin of
25.4%, versus a net loss of R$166.5mm in 2Q08 and net income of R$61.4mm
in 1Q09.
Operating costs and expenses totaled R$1,304.1mm in 2Q09, 25.9%
down on 2Q08, due to: (i) the operating synergies, thanks to the merger of
GOL and VRG’s operations as of 4Q08, especially in the sales & advertising
and maintenance, materials & repairs lines, (ii) the reduction in the average jet
fuel price, partially offset by the period exchange devaluation. In comparison
with 1Q09, operating costs and expenses fell by 7.6%, thanks to the average
Dollar devaluation against to the Real of 10.3% and also by the capture of
operational synergies.

Also
- GOL says will not reduce flights to Argentina
- GOL declares in negotiations with lessors to return 6 Boeing 763


New York + Rio de Janeiro = One of the best combinations !
8 replies: All unread, jump to last
 
User currently offlineOP3000 From United States of America, joined Jun 2009, 1774 posts, RR: 2
Reply 1, posted (5 years 1 month 3 weeks 19 hours ago) and read 2017 times:

Here's some other details on fleet changes from the PR:

In line with its strategy of combining the renovation of its fleet with the disciplined growth of its seat supply, GOL concluded the following operating agreements and initiatives:

* Agreement with Boeing to reschedule the delivery of 20 Boeing 737 Next Generation aircraft from between 2010 and 2012 to between 2010 and 2014.
* Sub-leasing of two 737-800s to a European airline, with return scheduled for October 2009.
* Replacement of a 767-300 with a 737-800 in April, leaving six wide-body aircraft currently out of commission, two of which are currently under sub-leasing negotiations (sub-lease and wet-lease).
* Delivery of three 737-800NGs (two of which SFPs) as part of the 737-700 and 737-800 fleet standardization, which aims to replace all remaining 737-300s in 2009.

As a result of the above, GOL closed the quarter with an operational fleet of 110 operational aircraft and a total fleet of 124 aircraft comparing to 107 and 120 in 1Q09, respectively. The Company estimates to reach the end of 2009 with 108 aircraft in its operating fleet.

(Source: PRNewswire.com)

The other thing I read in the press release which boosted numbers was that they sold about R $255 million in Smiles to Bradesco and Banco de Brasil as part of their new mileage credit card agreements, of which about R $104 million has been paid already.

Quoting LipeGIG (Thread starter):
- GOL declares in negotiations with lessors to return 6 Boeing 763

Lipe: Any idea how long these have been without use?


User currently offlineHardiwv From Brazil, joined Oct 2004, 8780 posts, RR: 50
Reply 2, posted (5 years 1 month 3 weeks 16 hours ago) and read 1955 times:

Here is the link for the full 1S results -

http://www.mz-ir.com/gol/2006/web/ar...uivos/Gol_ER_2Q09_20090811_eng.pdf

Quoting LipeGIG (Thread starter):
GOL just announce their Second Quarter Results. The airline publish strong results due to synergies, lower costs and a help from US$/R$ rate (their debit is in US$ so every time the R$ become strong, reduces the total debt which in the end increases the profit)

Thanks for the news, Lipe.

GOL shows strong performance and the airline seems to be back on track after the problems in assimilating RG operations.

Just to complement your information, GOL also posted healthy domestic load factor of 74.6% in July 2009, its highest load factor since the incorporation of RG.

http://www.mz-ir.com/gol/2006/web/ar...os/GOL_PR_20090508_trafego_eng.pdf

Note that this was achived in the middle of world recession!

Quoting LipeGIG (Thread starter):
- GOL says will not reduce flights to Argentina

Very good news! GOL also stated that it will not axe SCL and that the drop of LIM was only temporary.

Quoting OP3000 (Reply 1):
As a result of the above, GOL closed the quarter with an operational fleet of 110 operational aircraft and a total fleet of 124 aircraft comparing to 107 and 120 in 1Q09, respectively

This makes GOL the second biggest airline in Latin America after TAM in terms of fleet size and pax number.

Rgs,

[Edited 2009-08-12 01:10:51]

User currently offlineLumberton From United States of America, joined Jul 2005, 4708 posts, RR: 20
Reply 3, posted (5 years 1 month 3 weeks 14 hours ago) and read 1935 times:

And to think I sold my GOL stock Monday!  banghead 


"When all is said and done, more will be said than done".
User currently offlineLipeGIG From Brazil, joined May 2005, 11440 posts, RR: 58
Reply 4, posted (5 years 1 month 3 weeks 9 hours ago) and read 1859 times:
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Quoting OP3000 (Reply 1):
Lipe: Any idea how long these have been without use?

Since March/May 2008, so more than 1 year.

Quoting OP3000 (Reply 1):
The other thing I read in the press release which boosted numbers was that they sold about R $255 million in Smiles to Bradesco and Banco de Brasil as part of their new mileage credit card agreements, of which about R $104 million has been paid already.

This was a great agreement, in pair with credit card agreements in the US. Cash for future miles!

Quoting Lumberton (Reply 3):
And to think I sold my GOL stock Monday! banghead

If the BRL vs US$ continue strong, further profits are expected during the next 4 quarters.

Quoting Hardiwv (Reply 2):
This makes GOL the second biggest airline in Latin America after TAM in terms of fleet size and pax number.

Still not so big in revenue. But it's good to see GOL performing well.



New York + Rio de Janeiro = One of the best combinations !
User currently offlineHardiwv From Brazil, joined Oct 2004, 8780 posts, RR: 50
Reply 5, posted (5 years 1 month 3 weeks 4 hours ago) and read 1798 times:



Quoting LipeGIG (Reply 4):
This was a great agreement, in pair with credit card agreements in the US. Cash for future miles



Quoting OP3000 (Reply 1):
The other thing I read in the press release which boosted numbers was that they sold about R $255 million in Smiles to Bradesco and Banco de Brasil as part of their new mileage credit card agreements, of which about R $104 million has been paid already.

Most airlines with strong FF programs have such agreements with banks/credit cards, it is an excellent way to generate cash.

Quoting LipeGIG (Reply 4):
Still not so big in revenue. But it's good to see GOL performing well.

Considering other airlines results, and the current economic and financial scenario, and GOL previous results, it is a major improvement. As you said, the currency exchange helped to boost results to a certain degree.

Rgs,


User currently offlineLipeGIG From Brazil, joined May 2005, 11440 posts, RR: 58
Reply 6, posted (5 years 1 month 3 weeks 2 hours ago) and read 1759 times:
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Quoting Hardiwv (Reply 5):
Considering other airlines results, and the current economic and financial scenario, and GOL previous results, it is a major improvement. As you said, the currency exchange helped to boost results to a certain degree.

Considering that they had to pay income tax over the income generated by US$ devaluation, i would say about 70% of the result come from currency exchange financial result.



New York + Rio de Janeiro = One of the best combinations !
User currently offlineAA1818 From Trinidad and Tobago, joined Feb 2006, 3435 posts, RR: 4
Reply 7, posted (5 years 1 month 3 weeks 1 hour ago) and read 1746 times:

I was wondering if anyone could provide any details as to GOL's plans for VARIG? I started a thread yesterday but it generated no interest.

What Are GOL's Plans For Varig? (by AA1818 Aug 12 2009 in Civil Aviation)

AA1818



“The moment you doubt whether you can fly, you cease for ever to be able to do it.” J.M. Barrie (Peter Pan)
User currently offlineLipeGIG From Brazil, joined May 2005, 11440 posts, RR: 58
Reply 8, posted (5 years 1 month 2 weeks 6 days 21 hours ago) and read 1691 times:
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FORUM MODERATOR



Quoting AA1818 (Reply 7):
I was wondering if anyone could provide any details as to GOL's plans for VARIG? I started a thread yesterday but it generated no interest.

AA1818, their first plan was to take advantage of Varig brand and reactivate the international long haul network with 763's.
The plan went wrong because they select the wrong markets, the wrong origin and the wrong and/or the wrong equipment. Load factors were terrible and one after the other, they move out from LHR, MEX, FCO, FRA, MAD and CDG.
With only the South American network, G3 decided to end with RG Brand and just offer a single brand to the Brazilian and South American market.

They are slowly removing Varig planes while they rebrand them as Gol.

All will survive is their corporate name, VRG Linhas Aereas, because it holds a substantial amount of tax credit.



New York + Rio de Janeiro = One of the best combinations !
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