SAO PAULO, Brazil – GOL Linhas Aereas Inteligentes S.A., the largest low-cost and low-fare airline in Latin America, announces its results for the second quarter of 2013 (2Q13).
GOL recorded an operating loss (EBIT) of R$35 million in 2Q13 resulting in a negative margin of 1.8%, an improvement of R$320 million and 18 percentage points over 2Q12. In the first half, GOL recorded a positive operating margin of 1.7%, in line with the margin projected for 2013, of between 1% and 3%.
PRASK (passenger revenue per available seat-kilometer) totaled R$14.14 cents in 2Q13, 10.5% up on 2Q12. This performance fueled the 7.5% year-over-year upturn in RASK (operating revenue per available seat-kilometer), which came to R$15.72 cents in 2Q13. The continuous monthly increase in PRASK since April 2012 reflects the Company’s efforts in optimizing its offer and maximizing the profitability of its routes.
CASK (operating cost per available seat-kilometer) totaled R$16.01 cents in the second quarter, 8.4% down on the same period last year. Fuel costs per ASK fell by 8.8%, primarily due to the 3.4% decline in the per-liter fuel price and the use of a more fuel-efficient fleet. CASK ex-fuel fell by 8% in the same period, chiefly impacted by the reduction in personnel costs.
SMILES’ IPO during the quarter meant that the Company ended 2Q13 with its biggest ever quarterly cash position (cash, cash equivalents, financial investments and short and long-term restricted cash), totaling R$2.8 billion, equivalent to 34% of net revenue of the last 12 months (LTM).