2014

GOL Records 1Q14 Operating Income of R$144 Million, 43% Increase versus 1Q13, and an Operating Margin of 5.8%

SAO PAULO, May 14, 2014 /PRNewswire/ -- GOL Linhas Aereas Inteligentes S.A. (BM&FBOVESPA: GOLL4 e NYSE: GOL), (S&P: B, Fitch: B-, Moody's: B3), the largest low-cost and low-fare airline in Latin America, announces today its results for the first quarter of 2014.

Highlights

  • Operating income (EBIT) totaled R$144 million in 1Q14, 43% increase versus 1Q13, with an operating margin of 5.8%. In the last 12 months (LTM), GOL achieved an EBIT of R$309 million and a margin of 3.3%.
  • Net revenues reached R$2.5 billion, 20% or R$411 million, up year over year and the Company's highest ever first-quarter figure. LTM net revenue stood at R$9.4 billion.
  • Total load factor of 76.1% on the 1Q14 represented an 8.9 percentage point improvement over 1Q13 and also a first-quarter record, while yield maintained its upward trajectory, increasing by 4% in the period. These factors helped push RASK and PRASK by 18% to R$19.90 cents and R$18.23 cents, respectively.
  • EBITDAR totaled R$493 million, 34% more than in 1Q13. LTM EBITDAR of R$1,652 million, a Company record, reducing leverage (adjusted gross debt/LTM EBITDAR) from 27.9x, in 1Q13, to 6.5x in 1Q14.
  • GOL closed 1Q14 with a total cash position of R$2.8 billion, equivalent to 30% of LTM net revenue. The Company remains committed to maintaining ample liquidity, which is essential at times of high volatility in the economic scenario.

Conference Calls
Thursday, May 15, 2014

Portuguese
9:30 a.m. (US ET)
10:30 a.m. (Brazil)
Tel.: +55-11-2188-0155
Password: GOL

English
11:00 a.m. (US ET)
12:00 p.m. (Brazil)
+1-412-317-6776
Password: GOL

For further information visit www.voegol.com.br/ir

CONTACTS

INVESTOR RELATIONS
Phone: +55-11-2128-4700
E-mail: ri@golnaweb.com.br

CORPORATE COMMUNICATIONS
Phone: +55-11-2128-4183
E-mail: comcorp@golnaweb.com.br

ABOUT GOL

GOL Linhas Aereas Inteligentes S.A. (BM&FBOVESPA: GOLL4 and NYSE: GOL), the largest low-cost and low-fare airline in Latin America, offers around 910 daily flights.

SOURCE GOL Linhas Aereas Inteligentes S.A.



RELATED LINKS
http://www.voegol.com.br/ir

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