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Gol Linhas (GOL) Traffic Decreases 3.1% Y/Y in November
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Gol Linhas Aereas Inteligentes recently reported a year-over-year decline in traffic and capacity for November 2023.
In November, consolidated revenue passenger kilometers (a measure of air traffic) dipped 3.1% on a year-over-year basis. Available seat kilometers (a measure of capacity) fell 7.3%. Delays pertaining to the delivery of Boeing 737 MAX jets led to the capacity decline.
With traffic fall being less than the capacity contraction, the load factor (percentage of seats filled by passengers) for November 2023 improved to 85% from 81.3% in November 2022. The number of flight departures at GOL in November registered a 6.7% year-over-year decrease. Consolidated passengers on board inched down 0.4% year over year.
On the domestic front, the decline in revenue passenger kilometers (2.8%) was less than the fall in available seat kilometers (6.3%). The domestic load factor increased to 84.9% from 81.8% in November 2022.
Domestic departures, accounting for more than 95% of total departures during the month, declined 6.8% on a year-over-year basis. Number of seats decreased 6% in November. On the domestic front, passengers on board inched down 0.7% year over year.
Internationally, the load factor improved to 86.4% from 76.9% in November 2022. Passengers on board at GOL’s international flights increased 6.8%, reflecting the bounce back in international travel in the post-Covid-19 era.
Zacks Rank & Key Picks
Gol Linhas currently carries a Zacks Rank #5 (Strong Sell).
Investors interested in the Zacks Airline industry may consider some better-ranked stocks like Air Canada (ACDVF - Free Report) and SkyWest (SKYW - Free Report) .
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand. The Zacks Consensus Estimate for current-year earnings has jumped 32.6% in the past 60 days.
SkyWest currently carries a Zacks Rank #2 (Buy). SKYW's fleet modernization efforts are commendable. Initiatives to reward its shareholders also bode well. The Zacks Consensus Estimate for current-quarter earnings has surged 83.3% in the past 60 days.
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Gol Linhas (GOL) Traffic Decreases 3.1% Y/Y in November
Gol Linhas Aereas Inteligentes recently reported a year-over-year decline in traffic and capacity for November 2023.
In November, consolidated revenue passenger kilometers (a measure of air traffic) dipped 3.1% on a year-over-year basis. Available seat kilometers (a measure of capacity) fell 7.3%. Delays pertaining to the delivery of Boeing 737 MAX jets led to the capacity decline.
With traffic fall being less than the capacity contraction, the load factor (percentage of seats filled by passengers) for November 2023 improved to 85% from 81.3% in November 2022. The number of flight departures at GOL in November registered a 6.7% year-over-year decrease. Consolidated passengers on board inched down 0.4% year over year.
On the domestic front, the decline in revenue passenger kilometers (2.8%) was less than the fall in available seat kilometers (6.3%). The domestic load factor increased to 84.9% from 81.8% in November 2022.
Domestic departures, accounting for more than 95% of total departures during the month, declined 6.8% on a year-over-year basis. Number of seats decreased 6% in November. On the domestic front, passengers on board inched down 0.7% year over year.
Internationally, the load factor improved to 86.4% from 76.9% in November 2022. Passengers on board at GOL’s international flights increased 6.8%, reflecting the bounce back in international travel in the post-Covid-19 era.
Zacks Rank & Key Picks
Gol Linhas currently carries a Zacks Rank #5 (Strong Sell).
Investors interested in the Zacks Airline industry may consider some better-ranked stocks like Air Canada (ACDVF - Free Report) and SkyWest (SKYW - Free Report) .
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand. The Zacks Consensus Estimate for current-year earnings has jumped 32.6% in the past 60 days.
SkyWest currently carries a Zacks Rank #2 (Buy). SKYW's fleet modernization efforts are commendable. Initiatives to reward its shareholders also bode well. The Zacks Consensus Estimate for current-quarter earnings has surged 83.3% in the past 60 days.