Skift

Brazil’s Gol airline using IPO for its loyalty program to raise $565 million

Smiles SA, the frequent-flier program for Brazil’s Gol Linhas Aereas Inteligentes SA, is raising as much as 1.13 billion reais ($565 million) in an initial public offering. Smiles and its shareholders are selling as many as 52.2 million shares in the primary offering for the Sao Paulo-based company at 21.70 reais each, according to a [...]

Brazilian airline cuts capacity and boosts profits

Gol Linhas Aereas Inteligentes SA, Brazil’s second-biggest air carrier by market share, rallied after announcing that a measure of profitability increased as the company reduced capacity to boost net income. Shares climbed 4.4 percent to 11.83 reais at 12:58 p.m. in Sao Paulo after earlier rising as much as 5.2 percent in the biggest intraday [...]

Brazil’s Gol just can’t get passengers on board its planes

Gol Linhas Aereas Inteligentes SA’s turnaround plan is faltering as the airline flies the emptiest jets in Brazil. Even after paring its schedule, Gol filled only 64.9 percent of available domestic seats in February, a peak summer travel period because of Carnival. Latam Airlines Group SA’s Tam unit, Sao Paulo-based Gol’s biggest rival in Brazil, [...]

Rumors of a Brazilian airfare cap send Gol stock price tumbling

Brazil’s aviation regulator refuted the rumors stating that the upcoming news dealt with slot distribution, but concerns of the president’s interventionist policies continue to keep the industry on its toes.

Brazilian airline Gol to sell off mileage program and cut flights in face of rising competition

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Dec. 21 (Bloomberg) — Gol SA’s borrowing costs are surging to a three-year high, pushing its debt to distressed levels as investors lose confidence in the…

Gol eliminates 850 jobs and returns Webjet’s fuel-inefficent jets

Gol Linhas Aereas Inteligentes SA, Brazil’s second-biggest airline, will eliminate about 850 jobs and return 20 Boeing Co. 737 jets to lessors as it shutters the newly acquired Webjet unit. Domestic flight capacity will fall by as much as 8 percent in the first half, Gol said today in a U.S. regulatory filing. Sao Paulo-based [...]

Qatar Airways may be looking at buying Brazil’s Gol; parties deny report

Brazilian low-cost airline Gol Linhas Aereas Inteligentes jumped in Monday trading after a report that it was in preliminary talks with Qatar Airways for a possible takeover of the struggling Latin American airline. Veja magazine said Qatar executives met with Gol officials last week to discuss a possible takeover. Because Brazil restricts foreign ownership of [...]

Brazil’s Gol airline finds itself in a sticky financial situation

Gol Linhas Aereas Inteligentes SA’s $1.6 billion debt load, the most of any major airline worldwide relative to profit, is fueling speculation it will sell assets to raise cash or merge with another carrier. Net debt equaled 25 times Gol’s earnings before interest, taxes, depreciation and amortization, or Ebitda, in the 12 months ended June [...]

Profitablility an elusive GOL for Brazil-based low-cost carrier

GOL, the Latin American low-cost carrier, saw its losses widen in the second quarter and expects more of the same throughout the rest of the year. Although increased demand boosted revenue 16.9% to about $905 million in the second quarter, the Brazil-based carrier’s consolidated operating losses widened to around $175.2 million, from a loss of [...]