GOL Linhas Aéreas recorded a net revenue of more than $800 million in the quarter two (Q2) of 2023. The airline exceeded its expectations reflecting strong growth and comeback post pandemic. The Group’s total revenue amounted to R$4.1 billion, recording its highest second-quarter revenue in the company's history, representing a year-over-year increase of nearly 28%.
Speaking about the Q2 results, Celso Ferrer, chief executive, GOL said: “Thanks to the unparalleled work of our Team of Eagles, we delivered solid operational performance by continuously providing our customers a great product with best-in-class service. During this winter period, we reached approximately 91% of pre-pandemic capacity and achieved record revenue for any prior second quarter.”
The Group’s EBIT (operating income) came out to R$537.2 million while margins expanded by 13% compared to the same period last year. The CASK (cost of available seat kilometer) decreased by nearly 8%, but the CASK results excluding fuel remained stable compared to 2022. The airline reported an operating cash flow of R$675.9 million driven by higher operating volumes and capital initiatives.
The airline carried 7 million passengers flew on the airline, representing a nearly 20% increase year-over-year.
"We also maintained our disciplined approach to cost controls that continued to drive productivity and enabled us to achieve even higher unit revenue (PRASK) of 36.18 cents (R$), an 8.9% increase on year over year basis, through our focus on our revenue management strategies," Ferrer explained.
The Group’s RPK (revenue passenger kilometers) grew by 13%, and ASK (available seat kilometers) increased by 14%. In addition to the net revenue ancillary revenues, primarily from Smiles and Gollog, amounted to $89 million, representing an increase of nearly 72%.
Smiles is the airline's frequent-flyer program, while Gollog is GOL's cargo transportation and logistics services provider.
Load factor levels remained stable at nearly 77%, according to the airline. The domestic load factor reached 77%, while the international load factor was 73%.