SAO PAULO, Brazil – GOL Linhas Aereas Inteligentes S A, the largest low-cost airline in Latin America, announces today its results for the third quarter of 2014.
Operating income (EBIT) registered R$ 152 million in 3Q14, R$ 115 million up over 3Q13, with an operating margin (EBIT) of 6.2%, up by 4.5 percentage points. The last twelve months (LTM) EBIT totaled R$ 497 million, with an operating margin of 4.9%.
Net revenue reached R$ 2.5 billion, 10% up over the 3Q13, of which R$ 2.2 billion refers to passenger revenues. Net revenue from cargo and others totaled R$ 272 million, increasing its share from 8% in 3Q13 to 11% of the total revenue. Net revenue LTM stood at R$ 10 billion, a new record, with international revenue accounting for 11% of total revenues, reaching R$ 1.1 billion.
EBITDAR totaled R$ 463 million, 24% up on 3Q13. The EBITDAR LTM came to a record registering R$ 1.9 billion, reducing the financial leverage ratio (adjusted gross debt/EBITDAR) by 4.6 points, from 10.9x in 3Q13, to 6.3x in 3Q14.
Total load factor increased by 8 percentage points to 77.5% in the quarter. This increase more than compensates the 2% decline in yield.
As a result, RASK and PRASK increased by 13% and 9% over 3Q13, respectively.