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Name | Symbol | Market | Type |
---|---|---|---|
Gol Linhas Aereas Inteligentes SA | NYSE:GOL | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.715 | 0 | 01:00:00 |
Recurring operating income of R$842 million and margin of 17.1%
SÃO PAULO, April 26, 2023 /PRNewswire/ -- GOL Linhas Aéreas Inteligentes S.A. ("GOL" or "Company") (NYSE: GOL and B3: GOLL4), the largest domestic airline in Brazil, today announced its consolidated results for the first quarter of 2023 (1Q23). During the quarter, the Company concluded its tenth capital raise in the last three years, which led to a reduction of its short-term liabilities. The quarter also showed ongoing improvement in operating results which advanced GOL's recovery process, and positioned the Company to make even further gains as growth in air travel continues.
All information in this release is presented in Reais (R$), in accordance with international accounting standards (IFRS) and with adjusted metrics, made available to enable comparison of this quarter with the same period of the previous year (1Q22). Adjusted (recurring) indicators exclude non-recurring expenses related to the quarter's results, and are detailed in the respective tables.
1Q23 HIGHLIGHTS
COMMENTS
Celso Ferrer, Chief Executive Officer, commented: "2023 is off to a strong start thanks to the excellent work and dedication of our Team of Eagles. During the quarter we delivered another sequential increase in our operating performance. We continue to add supply and with our disciplined approach to costs further drive higher levels of productivity. In January, we reached operating fleet utilization levels above 12 hours a day, a level last seen in 2019. As the market recovery continues, our objective is to increase annual average utilization and strengthen our low-cost operating model with our standardized fleet. We also successfully completed a transformative financial transaction that strengthens our capital structure, significantly reduces maturities over the next three years, and provides an additional source of liquidity to help drive our growth. I am extremely proud of the work of the Team of Eagles and how, together, we achieved another successful quarter, demonstrating extraordinary commitment to safety and to serving our Customers."
SUMMARY OF THE FIRST QUARTER 2023 RESULTS (VS. 1Q22)
FULL EARNINGS RELEASE & PRESENTATION
Access the earnings release, presentation and full financial statements at: www.voegol.com.br/ir
1Q23 Conference Call: April 26, 2023, 09:00 am (New York time; US EDT), broadcast via webcast (https://mzgroup.zoom.us/webinar/register/WN_3zBVsoE5TUiU6-SdOxvzVQ#/registration).
Investor Relations: ir@voegol.com.br, +55(11) 2128-4700
About GOL Linhas Aéreas Inteligentes S.A. (www.voegol.com.br): The largest airline in Brazil, leader in the corporate and leisure segments. Since it was founded in 2001, the Company has the lowest unit cost in Latin America, thus democratizing air transportation of passengers.
View original content:https://www.prnewswire.com/news-releases/gol-records-recurring-ebitda-of-r1-2-billion-and-margin-of-25-2-in-1q23--301808137.html
SOURCE GOL Linhas Aéreas Inteligentes S.A.
Copyright 2023 PR Newswire
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