GOL posts quarterly loss

Dino D'Amore
By Dino D'Amore November 14, 2013 18:28

GOL posts quarterly loss

Gol Linhas Aereas has posted seventh straight quarterly loss. The Brazilian airline reported a net loss of 197 million reais ($85 million) in the third quarter, compared to a loss of 309 million reais a year earlier.

GOL has also stated it plans to keep the size of its domestic network unchanged next year – the airline cut flights in Brazil by about 5 percent in 2012 and 9 percent in 2013 due to weak demand and high fuel costs. “The adjustments made in the domestic market this year have led the company’s supply to a size compatible with the economic scenario expected for 2014,” Gol said in the filing.

Earnings before interest and taxes rose to 37 million reais in the third quarter, compared with an operating loss of 201 million reais a year ago.

Dino D'Amore
By Dino D'Amore November 14, 2013 18:28
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