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GOL Linhas' (GOL) Traffic and Load Factor Increase in August

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GOL Linhas Aereas Inteligentes GOL reported impressive air traffic figures for August, courtesy of strong demand for air travel. Consolidated traffic, measured in revenue passenger kilometers (RPK), climbed 17.1% to 3.51 billion. While international RPK surged 72.5%, domestic RPK grew 11.2% in the same month.

On a year-over-year basis, consolidated capacity (measured in available seat kilometers or ASKs) increased 9.5% to 4.9 billion, primarily on 53.4% expansion in international capacity. Moreover, the carrier witnessed a 17.6% increase in consolidated passenger count in August driven by a 57.8% uptick on the international front.

Consolidated load factor (percentage of seats filled by passengers) improved to 82.3% from 77% a year ago as traffic growth exceeded capacity expansion. On a consolidated basis, departures and seats increased 9% and 9.3%, respectively.

In the first eight months of the year, consolidated RPK at GOL Linhas increased 9.5%, while ASK grew 5.8%. Also, the load factor for the period improved 280 basis points to 82.2%. While the company recorded a 1.5% rise in the volume of departures, the number of seats increased 4.1%.  

Currently, GOL Linhas, which competes with the likes of Copa Holdings CPA, LATAM Airlines LTM and Azul (AZUL - Free Report) in the Latin American aviation space, carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Year to date, shares of GOL Linhas have outperformed its industry, courtesy of upbeat travel demand. The stock appreciated 14.6% compared with its industry’s 0.3% growth.


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