SAO PAULO (Reuters) – Brazilian airline Gol on Thursday reported a narrowed third-quarter net loss on a yearly basis even as it was heavily hit by currency swings in the period, and provided some updated forecasts for 2022 in order to reflect its current scenario.
Gol Linhas Aereas Inteligentes SA, as the company is formally known, posted a net loss of 1.55 billion reais ($287.84 million) in the quarter ended in September, narrowing from a 2.52 billion real loss in the same period last year.
The company said the bottom line was affected by foreign exchange losses, which reached a total 738 million reais in the quarter.
It managed to deliver a record quarterly net revenue, more than doubling from a year ago to 4.0 billion reais and above pre-pandemic levels, a securities filing showed.
Gol also updated some of its full-year forecasts to reflect higher jet fuel prices, current ticket sale levels and 2022 results so far, it said.
The Brazilian airline now expects 2022 available seat kilometers to rise 50-55% on a yearly basis, from a previous forecast of 55-65%, while the average load factor is seen at 81%, up 1 percentage point from its previous estimate.
Gol kept its full-year net revenue forecast at 15.4 billion reais and said diluted earnings per share are expected to come in at zero, from a non-available estimate earlier.
($1 = 5.3849 reais)
(Reporting by Gabriel Araujo; Editing by Steven Grattan)
