São Paulo – Airline Gol had a loss of R$ 197 million (US$ 84 million) in the third quarter. The losses from July to September were 36.3% lower than those in the same period in 2012, when they had totalled R$ 309.4 million (US$ 133 million) . In the same comparison, Gol revenues grew 12.2% to R$ 2.23 billion (US$ 955 million) , according to figures disclosed on Tuesday night (12) by the Brazilian airline. In the year, company revenues have totalled R$ 6.2 billion (US$ 2.7 billion) , growth of 4.1% over the same period in 2012. Loss in the year is R$ 705.3 million (US$ 302 million) , 33.8% less than in 2012.
In the document signed by the company president, Paulo Sérgio Kakinoff, Gol says that it has managed to obtain better results despite the 13% depreciation of the Brazilian real in the period as against the dollar, and fuel prices have peaked since Gol started disclosing its balance sheets, in 2004. In the press statement, Kakinoff says that in the accumulated result for the year, company revenues have grown despite the lower seat offer.
“In the first nine months of 2013, the company has increased revenues by R$ 244 million (US$ 104.5 million) despite the 9.7% lower seat offer on the domestic market, providing a positive operating margin of 1.7% in the period. Furthermore, we reduced operating costs by approximately R$ 407 million (US$ 174 million) in the period,” says the report.
Despite the better result than reached one year before, Gol shares were down on the São Paulo Stock Exchange (Bovespa) on Thursday (13). At 14h41, they were traded at R$ 9.32 (US$ 3.99) , down 6.52%.
*Translated by Mark Ament
