By Marcelo Rochabrun
By Marcelo Rochabrun
SAO PAULO, March 18 (Reuters) – Gol Linhas Aereas Inteligentes GOLL4.SA on Thursday said it was revising downward its outlook for early 2021, suggesting the pandemic’s second wave in Brazil is having important damaging impression on the air journey market.
Whereas Gol had anticipated that Q1 income would are available at 2.four billion reais ($429.72 million), it’s now forecast to solely whole 1.7 billion reais. The brand new income estimate represents simply 52% of a pre-pandemic ranges, down from two-thirds.
Gol, Brazil’s largest airline, reported a modest revenue of 16.eight million reais ($3.01 million) within the fourth quarter, which is a part of Brazil’s excessive season. Nonetheless, Gol misplaced a complete of 6 billion reais in 2020, largely because of the pandemic that upended air journey.
Gol’s much less optimistic outlook is simply the newest signal that Brazil’s second coronavirus wave, which simply this week hit file highs for every day deaths and new infections, is negatively affecting the economic system as well being restrictions hamper journey demand.
Gol stated its March numbers have been probably the most affected by the brand new wave and that it had needed to scale back its flight schedule to 40% of pre-pandemic ranges.
The airline additionally elevated its anticipated money burn for the primary quarter to three million reais a day from an authentic estimate of two million reais a day.
($1 = 5.5850 reais)
(Reporting by Marcelo Rochabrun; Enhancing by Toby Chopra and Christian Plumb)
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