GOL Announces Record Q323 Revenue

DALLAS — Brazilian low-cost carrier GOL Linhas Aereas (G3) announced on November 6, 2023 record Q3 revenue along with other positive indicators.

Operating revenue for the Brazilian LCC reached R$4.7 billion (US$960 million), a 16.4% increase over Q3 2022. EBITDA (earnings before interest, taxes, depreciation, and amortization) was R$1.25 billion and margin reached 26.8%, a 9.5% increase compared to the prior year.

GOL's Q3 Positive Indicators

• R$0.9 billion cash flow, up 4.5%
• Strong operational performance with 620 daily flights, 156 markets served, and more than 8 million passengers transported
• Delivery of a new Boeing 737 MAX-8, bringing the airline's high-efficiency aircraft to 28% of its fleet
• An increase in Revenue Passenger Kilometers (RPK) of 8.2%
• An increase of Available Seat Kilometers (ASK) of 5.2%
• Domestic and international load factor of 83.7%, a 2.4% increase
• Operational aircraft utilized increased by 2% to 11.3 hours per day
• Passengers transported increased 16.4% to 8.1 million
• Net revenue per available seat kilometer (RASK) grew 10.7%
• Cost per seat kilometer decreased by 9.5% to 34.9s cents (R$)

CEO Comments

CEO Celso Ferrer expressed his satisfaction with GOL's positive Q3 results, attributing them to the exceptional efforts of the Team of Eagles. He highlighted the continuous improvement in operational reliability, resulting in a record-breaking revenue for the third quarter, accompanied by an impressive operating margin of 17.7%, which ranks among the best in the industry.

Ferrer emphasized the company's success in diversifying its revenue streams, particularly through the Smiles mileage program and Gollog cargo transportation and logistics services. He further emphasized GOL's commitment to capitalizing on growth opportunities and maintaining a culture of innovation to enhance customer satisfaction.

The CEO concluded by stating that these achievements demonstrate the company's strategic alignment and ability to consistently deliver positive outcomes in 2023.

GOL is part of Abra Group, a holding company that provides a platform for Latin American operating airlines to further reduce costs, achieve greater economies of scale, continue to operate a state-of-the-art fleet of aircraft and expand its routes, services, product offerings, and loyalty programs.

Featured image: GOL airlines PR-GZI and PR-GEJ boeing 737 800 and 737 700. Photo: Joao Pedro Santoro/Airways