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Gol Linhas (GOL) April Traffic LacklusterAmid Coronavirus Woes
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With the COVID-19 pandemic ravaging air-travel demand, Gol Linhas Aereas Inteligentes’ consolidated traffic, measured in revenue passenger kilometers (RPK), tanked 93.6% on a year-over-year basis. Demand plunged both domestically (92.7%) as well as on the international front (99.5%), thanks to coronavirus-induced travel restrictions.
With Gol Linhas lowering capacity in response to dwindling demand, consolidated capacity (measured in available seat miles) contracted 93.5%. Due to the coronavirus-induced reduction in demand, this Zacks Rank #3 (Hold) Latin American carrier redesigned its network beginning Mar 28 to provide essential services from the São Paulo International Airport in Guarulhos. Moreover, consolidated load factor (% of seats filled by passengers) fell to 79.5% from 80.8% a year ago. Load factor declined as the fall in traffic was more than capacity contraction.
The metric dropped 1.3 percentage points to 75.8% domestically and 22.4 percentage points to 56.3% internationally. Moreover, total departures decreased 93.9% and seats declined 94.5%. The lackadaisical air-travel demand scenario can be gauged from the fact that Gol Linhas, which competes with the likes of Copa Holdings (CPA - Free Report) , LATAM Airlines and Azul (AZUL - Free Report) in the Latin American aviation space, carried 94.5% passengers less in April 2020 than the year-ago level indicates.
Due to tepid air-travel demand, shares of GOL Linhas have depreciated 18.2% in the past month compared with its industry’s 15.6% decline.
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Gol Linhas (GOL) April Traffic LacklusterAmid Coronavirus Woes
With the COVID-19 pandemic ravaging air-travel demand, Gol Linhas Aereas Inteligentes’ consolidated traffic, measured in revenue passenger kilometers (RPK), tanked 93.6% on a year-over-year basis. Demand plunged both domestically (92.7%) as well as on the international front (99.5%), thanks to coronavirus-induced travel restrictions.
With Gol Linhas lowering capacity in response to dwindling demand, consolidated capacity (measured in available seat miles) contracted 93.5%. Due to the coronavirus-induced reduction in demand, this Zacks Rank #3 (Hold) Latin American carrier redesigned its network beginning Mar 28 to provide essential services from the São Paulo International Airport in Guarulhos. Moreover, consolidated load factor (% of seats filled by passengers) fell to 79.5% from 80.8% a year ago. Load factor declined as the fall in traffic was more than capacity contraction.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The metric dropped 1.3 percentage points to 75.8% domestically and 22.4 percentage points to 56.3% internationally. Moreover, total departures decreased 93.9% and seats declined 94.5%. The lackadaisical air-travel demand scenario can be gauged from the fact that Gol Linhas, which competes with the likes of Copa Holdings (CPA - Free Report) , LATAM Airlines and Azul (AZUL - Free Report) in the Latin American aviation space, carried 94.5% passengers less in April 2020 than the year-ago level indicates.
Due to tepid air-travel demand, shares of GOL Linhas have depreciated 18.2% in the past month compared with its industry’s 15.6% decline.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>