GOL Linhas Aéreas Inteligentes S.A. (“GOL” or “Company”), Brazil’s largest domestic airline, (B3: GOLL4 and NYSE: GOL) today provides general outlooks and financial projections for the year 2019 (preliminary).
The Company’s financial projections highlight the main metrics that impact the financial results and the value to shareholders in the long term. GOL provides forward-looking information focusing on the most relevant metrics that the Company uses in assessing the performance of its business. These indicators are useful for analysts and investors to project the results of GOL.
General Guidance
Current / Preliminary Projections
Total fleet (average)
118/122 to 124
ASKs, System (% change)
1% to 3% / 5% to 10%
– Domestic
0% to 3% / 1% to 3%
– International
7% to 10% / 30% to 40%
Seats, System (% change)
1% to 3% / 3% to 5%
Take-offs, System (% change)
1% to 3% / 2% to 5%
Average occupancy rate (%)
79% to 80% / 79% to 81%
Cargo and other revenues (R $ billion)
~ 1.6 / ~ 2
Total net revenue (R $ billion)
~ 12
CASK ex-fuel (R $ cents)
~ 15 / ~ 15
Fuel, liters consumed (mm)
~ 1.400 / ~ 1.440
Price of fuel (R $ / liter)
~ 2.2 / ~ 2.6
Aircraft rental (R $ mm)
~ 950 / ~ 1,000
EBITDA Margin (%)
~ 16% / ~ 18%
Operating Margin (EBIT) (%)
~ 11% / ~ 13%
Effective IR / CS rate (%)
~ 0% / ~ 0%
Capex, investments (R $ mm)
~ 600 / ~ 600
Net Debt2 / EBITDA (x)
~ 3.0x / ~ 2.5x
Weighted average shares diluted (mm)
347.7 / 347.7
Earnings per share – diluted3 (R $)
1.20 to 1.40 / 1.70 to 2.30
Weighted average diluted ADS (mm)
173.9 / 173.9
Profit per ADS – diluted3 (US $)
0.75 to 0.90 / 1.00 to 1.50
(1) Figures for the year 2019 do not include IFRS 16;
(2) Excluding perpetual bonds;
(3) After minority interest in Smiles S.A. and excluding non-recurring expenses from the financial result.
These financial perspectives for 2019 may be adjusted to incorporate GOL’s operational-financial performance evolution and possible changes in the Brazilian economy and GOL’s economic scenario, including changes in variables such as GDP growth, interest rate, exchange rate , and the oil price trend (WTI and Brent).
Source: GOL Linhas Aéreas Inteligentes S.A.
Photo: Press Release