GOL announces 3Q24 Earnings Result

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Nov 13, 2024, 06:09 ET

SÃO PAULO, Nov. 13, 2024 /PRNewswire/ -- GOL Linhas Aéreas Inteligentes S.A. (B3: GOLL4), one of the leading airlines in Brazil and part of the ABRA Group, announced today its consolidated results for the third quarter of 2024 (3Q24). All information herein is presented in Brazilian Reais (R$), unless otherwise noted, in accordance with international accounting standards (IFRS), with adjusted metrics made available to enable comparison of this quarter (3Q24) with the third quarter of 2023 (3Q23) and the first nine months of 2024 (9M24) to the same period of the previous year (9M23).

Highlights

GOL – Passenger Business

#1 low-cost airline in the world in on-time performance for the fourth consecutive month and, for the seventh consecutive month, the leader in on-time performance in Brazil.
20.9% increase in capacity in the 3Q24, measured in seat kilometers offered (ASK), compared to the previous quarter (+6.7% 3Q24 vs 3Q23), in line with our capacity recovery plan.
Folha Top of Mind 2024 award winner for the eighth consecutive year, showcasing GOL as the airline most remembered by Brazilians.

GOL continues to expand its international footprint. New international route Brasília-Bogotá scheduled to start in February 2025, in addition to the return of direct flights between Rio de Janeiro and Montevideo and the launch of the Brasília-Buenos Aires route.

Smiles – Loyalty Program

The program celebrated its 30^th year with more than 1.1 million customers subscribed to the Smiles Club, GOL's subscription service, a 9.3% growth (3Q24 vs 3Q23).
14.4% growth in Smiles' total sales year-over-year (3Q24 vs 3Q23) and 7.1% growth in the year-to-date 2024 compared to 2023 (9M24 vs 9M23).
Total customers reached 23.6 million, a 6.6% growth (3Q24 vs 3Q23), reinforcing Smiles as the largest loyalty program among Brazilian airlines.
Smiles more than doubled the volume of miles redeemed outside of air travel products in the 3Q24 vs 3Q23, reinforcing its strategy of being the most complete travel platform.

GOLLOG – Cargo Business

33.7% increase in GOLLOG sales of the 9M24 (vs 9M23).
38.4% growth in total tons transported in the 9M24 (vs 9M23).
84.4% expansion in the Mercado Livre cargo operation of the 9M24 (vs 9M23).

FULL EARNINGS RELEASE & PRESENTATION
Access the earnings release, presentation and full financial statements at: www.voegol.com.br/ir

3Q24 Conference Call: November 13, 2024, 07:30 am (New York time; US EDT), broadcast via webcast
(https://mzgroup.zoom.us/webinar/register/WN_l5HqtO24Tj2-gMqUhiwcBA#/registration).

Investor Relations: [email protected]

About GOL Linhas Aéreas Inteligentes S.A.
GOL is a leading domestic airline in Brazil and part of Abra Group. Since it was founded in 2001, the Company has the lowest unit cost in Latin America, democratizing air transportation. The Company has alliances with American Airlines and Air France-KLM and provides eighteen codeshares and interline agreements to its Customers, bringing more convenience and simple connections to any place served by these partnerships. With the purpose of "Being the First for All," GOL offers the best travel experience to its passengers and the best frequent-flyer program, Smiles. In cargo transportation, Gollog delivers orders to different regions in Brazil and abroad. The Company has a team of 13,900 highly qualified aviation professionals focused on Safety. GOL's #1 value and operates a standardized fleet of 138 Boeing 737 aircraft. The Company's shares are traded on the B3 (GOLL4). For further information, go to www.voegol.com.br/ri.

SOURCE GOL Linhas Aéreas Inteligentes S.A.