Brazilian airline Gol reports millionaire losses due to travel restrictions

brazilian airline gol reports millionaire losses due to travel restrictions

Brazilian airline Gol reports millionaire losses due to travel restrictions
Friday, April 30th 2021 – 08:35 UTC
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Gol CEO Paulo Kakinoff trusts vaccination will impact positively on the airline industry

Brazilian airline Gol Thursday reported losses of US $ 473 million for the first quarter of 2021 due to the travel restrictions effective worldwide as a consequence of the Covid-19 pandemic.

The company Thursday released a statement which indicated that turnover had contracted 50.2 per cent compared to the same period last year (272 million dollars) due to the fall in demand caused by a second wave of the coronavirus.

Passenger revenue declined 51.8 per cent to $ 246 million, while freight revenues fell 26.7 per cent ($ 26 million).

Between January and March, Gol reduced its daily operations by 10 per cent compared to December and, compared to the first quarter of 2020, it carried only 4.5 million passengers, a 46% decrease.

For the second quarter of 2021, the airline expects revenue to decline approximately 35 per cent from the quarter ending in March. Gol is currently operating a fleet of 63 aircraft, around four times more than those in the same quarter of 2020…

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