Gol Linhas' (GOL) Traffic Decreases 2.5% Y/Y in December
Gol Linhas Aereas Inteligentes GOL recently reported a year-over-year decline in traffic and capacity for December 2023.
Consolidated revenue passenger kilometers (a measure of air traffic) inched down 2.5% on a year-over-year basis. Available seat kilometers (a measure of capacity) fell 8.1%.
With traffic fall being less than the capacity contraction, the load factor (percentage of seats filled by passengers) for December 2023 improved to 82.7% from 77.9% in December 2022. The number of flight departures at GOL in December registered a 10% year-over-year decrease. Consolidated passengers on board dipped 4.5% year over year.
On the domestic front, the decline in revenue passenger kilometers (4.6%) was less than the fall in available seat kilometers (8.6%). The domestic load factor increased to 82.1% from 78.7% in December 2022.
Domestic departures during the month plunged 10% on a year-over-year basis. Number of seats tumbled 8.6% in December. On the domestic front, passengers on board fell 5.2% year over year.
Internationally, the load factor rose to 86.8% from 71.4% in December 2022. Passengers on board at GOL’s international flights increased 11.1%, reflecting the bounce back in international travel in the post-Covid-19 era.
Zacks Rank & Key Picks
Gol Linhas currently carries a Zacks Rank #3 (Hold).
Investors interested in the Zacks Transportation industry may consider some better-ranked stocks like Ryanair Holdings RYAAY and SkyWest SKYW, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
RYAAY is benefiting from the buoyant air-traffic scenario post Covid. Traffic grew 11% to 105.4 million during the first half of fiscal 2024. On the back of robust traffic scenario, RYAAY’s profit after tax was €2.18 billion during the first half of fiscal 2024, up 59% year over year. Ryanair expects fiscal 2024 traffic to be 183.5 million.
SKYW's fleet modernization efforts are commendable. Initiatives to reward its shareholders also bode well. The Zacks Consensus Estimate for 2024 earnings increased 3.5% in the past 60 days.
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Ryanair Holdings PLC (RYAAY) : Free Stock Analysis Report
Gol Linhas Aereas Inteligentes S.A. (GOL) : Free Stock Analysis Report
SkyWest, Inc. (SKYW) : Free Stock Analysis Report
