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Ryanair Holdings PLC (RYAAY) - $25 value - yours FREE >>
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Gol Linhas (GOL) Traffic And Load Factor Plummet In May
With the COVID-19 outbreak affecting air-travel demand severely, Gol Linhas Aereas Inteligentes’ did not operate its international flights during May. Its total monthly traffic, measured in revenue passenger kilometers (RPK), tanked 93.7% on a year-over-year basis.
With Gol Linhas lowering capacity in response to dwindling demand, total monthly capacity (measured in available seat miles) contracted 93.1%
Moreover, consolidated load factor (% of seats filled by passengers) fell to 74.8% from 82.1% a year ago. Load factor declined as the fall in traffic was more than capacity contraction.
Gol Linhas’ total monthly departures plunged 93% and seats declined 93.6%.
However, with air-travel demand improving on the domestic front (domestic demand rose 5% in May compared with April), the company boosted its network to operate 70 flights per day for May, primarily to cope with the increased flight frequencies at the Brasília and Rio de Janeiro airports. Moreover, Gol reinitiated flights for São Paulo, Santa Catarina and Paraná airports.
Additionally, supply in May increased 12.1% on a month-on-month basis.
Gol Linhas Aereas Inteligentes S.A. Price
Gol Linhas Aereas Inteligentes S.A. price | Gol Linhas Aereas Inteligentes S.A. Quote
Zacks Ranks & Other Key Picks
Gol Linhas currently carries a Zacks Rank #2 (Buy).
Investors can also consider some other top-ranked stocks like Air Lease Corporation (AL - Free Report) , Ryanair Holdings plc (RYAAY - Free Report) and Teekay Tankers Ltd. (TNK - Free Report) from the broader Zacks Transportation sector. All the stocks carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings (three to five years) growth rate for Air Lease, Ryanair Holdings and Teekay Tankers is estimated at 3.1%, 20.5% and 3%, respectively.
5 Stocks Set to Double
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