ABRA Group Carrier Gol lost R$5.1 billion ($883 million) in the final quarter of last year.
This is compared to a loss of $1.1 billion over the period equivalent to 2023.
São Paulo-based GOL did not hold conference calls with investors as it functions to emerge from the reorganization of Chapter 11.
GOL reports that the Brazilian currency formation was hit hard by airlines in 2024, bringing total costs up 3% compared to the full year of 2023.
This is mainly due to increased costs due to “exchange rate depreciation,” but also the high airport rates and labor costs played a role.
In fact, airline losses due to depreciation and nutrient inflammation have increased by nearly 30% compared to past periods.
However, there are bright spots in your career year-end financial report.
Gol said passenger capacity has increased throughout the year “mainly through the introduction of new routes” and points to the recovery of flights between Sao Paulo and Porto Alegre with the reintroduction of others.
Career opened four new international bases in 2024, with new front posts in Cancun, Alba, Costa Rica and Bogota.
“One other important point was expanding the international network and rebuilding the connectivity, especially with Rio De Janeiro, one of GOL's biggest hubs,” the airline says.
GOL delivered eight new Boeing 737 Max 8s last year in the third quarter, including three. The year ended with a 52 Max Jet Fleet.
On December 31st, GOL's full fleet contained 138 jets. Of these, 114 are available.
GOL says that compared to the end of 2023, “we will finish the year with a larger operational fleet of 2025 with a well-built network and seven aircraft.”
“This increase in operating aircraft was the result of Chapter 11 restructuring efforts and lenders' negotiations to ensure the company's efficient operation to support growth and build the basis for GOL's performance in 2025,” the airline says.
Earlier this month, Career said it had secured exit funding from unknown investors to function to emerge from bankruptcy as a “competent standalone company.”
GOL told shareholders it has secured $1.25, the $1.25 debt certificate issued as part of its restructuring plan.
Meanwhile, Abra, an airline group that includes Colombian birds, is investigating the possibility of a combination of GOL and Azul to establish Brazil's largest airline.
