GOL announces 1Q16 results

GOL Linhas Aéreas Inteligentes (GOL) has reported a load factor of 77.5% for the first quarter of 2016 (1Q16), a 0.6 percentage point drop in comparison to the same period the previous year.
The airline’s available seat kilometres (ASKs) decreased by 5.9% from 13,033,000 to 12,262,000 year-over-year against a 6.6% decrease in revenue passenger kilometres (RPKs) from 10,172,000 to 9,497,000.
In total, GOL carried 9,043 passengers during 1Q16, 10.9% less passengers than the 10,121 carried in 1Q15.
These figures are in line with GOL’s restructure, which is now nearly complete and has seen the suspension of flights to eight destinations. The carrier launched a new and more efficient flight network in May 2016.
GOL’s net revenue for the quarter totalled R$2.7 billion in 1Q16, an increase of 8.3% year-over-year.However, with the 36% devaluation of the Real against the US Dollar's average price in the period, year-over-year cost per ASK, excluding fuel expenses and non-recurring event, registered an increase of 16.9%.
GOL's net loss before income taxes was R$42.7 million. Net income for the first quarter of 2016 was R$757.1 million.

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