GOL reports 92% decrease in RPKs in Q2 2020

Brazil-based air carrier GOL Linhas Aéreas Inteligentes S.A. (NYSE: GOL) (B3: GOLL4) has announced the number of Revenue Passenger-Kilometers (RPKs) decreased by 92% compared to the same period in 2019, totaling BRK 773 million, the company said.

The company said it saw an increase of 103% in RPK from April to June.

Available Seat Kilometers (ASK) grew 104% within the quarter, a decrease of 91% compared to 2Q19. GOL transported 0.6 million customers across the quarter, a decrease of 92% compared to 2Q19.

Net revenues were BRL 358 million, a decrease of 89% compared to 2Q19. Monthly revenues began with BRL 104.3 million in April and by the end of June reached BRL 164.1 million, representing an increase of 57% within 2Q20. Other revenues (primarily cargo and loyalty) totaled BRL 115 million, a reduction of 37% in relation to 2Q19.

The Revenue per Available Seat Kilometer (RASK) was BRL ).36.15, an increase of 31%. The Passenger Revenue per Available Seat Kilometer (PRASK) was BRL 0.24.58, a decrease of 6% compared to 2Q19; and

Adjusted EBITDA and adjusted EBIT were BRL 99 million and BRL 20 million, respectively, and represent a positive contribution as a result of the Company´s rational and responsible management of supply relative to demand.

GOL ended the month of June with a total fleet of 130 B737s, with 27 aircraft operating in its network. Flight operations were 13% of the schedule in June 2019, ramping up to 17% at the end of the month to 120 daily flights with the planned re-opening of seven bases (Juazeiro do Norte, Foz do Iguaçu, Navegantes, Petrolina, Porto Seguro, Ilhéus and Chapecó) and an increase in flights between São Paulo and Rio de Janeiro.

With an increase to approximately 250 daily flights in July, operations are expected to be around 25% of the July 2019 schedule with 36 aircraft operating in the network. GOL plans to re-open a further 14 bases from August to December 2020.