|Over a week ago|
Delta in talks to let Gol Linhas delay loan payment, Bloomberg reports » 11:5106/0906/09/20
Delta Air Lines (DAL) is…
Delta Air Lines (DAL) is in talks to let Gol Linhas Inteligentes (GOL) postpone payments on a $300M loan that matures in August for which Delta is guarantor, Bloomberg reports, citing two people familiar with the matter said. Negotiations are under way and a delay agreement is expected to be reached, sources told Bloomberg. Delta is guarantor of the five-year loan that Gol took out in August 2015, paying an annual interest rate of 6.5%.
Gol Linhas announces preliminary traffic figures for May » 08:5506/0506/05/20
In the domestic market in…
In the domestic market in May, demand was up by 5.0% over April and supply increased by 12.1% in relation to the previous month. GOL's domestic load factor was 74.8% in May. GOL did not operate regular international flights during the month.
|Over a month ago|
Latam Airlines U.S. bankruptcy filing to delay bailout until July, Reuters says » 07:2805/2905/29/20
LTM, AZUL, GOL
Latam Airlines' (LTM) U.S. bankruptcy filing this week will delay its potential bailout in Brazil to at least July, Rodrigo Viga of Reuters reported, citing two sources. Consequently, the filing will push back aid to its rivals at least through the end of June as Azul (AZUL) and Gol Linhas (GOL) are also negotiating bailouts. Latam's bankruptcy filing has reportedly caused private banks to question the viability of Brazil's airlines post-pandemic. Reference Link
Gol Linhas reinstated with a Neutral at BofA » 05:5605/2805/28/20
BofA analyst Murilo…
BofA analyst Murilo Freiberger reinstated coverage of Gol Linhas with a Neutral rating and $6 price target. While acknowledging the strong growth potential of the Latin American airline industry, the analyst maintains some caution given the "unprecedented shock" created by COVID-19. Copa (CPA) is the analyst's only Buy rated name given its "attractive" valuation and "strongest" balance sheet.
Gol Linhas to receive $412M from Boeing for 737 Max grounding » 10:4805/1305/13/20
Gol Linhas (GOL)…
Gol Linhas (GOL) disclosed that in March it reached an agreement regarding compensation for the grounding of the Boeing 737 MAX (BA) and order book restructuring, under which it received R$0.5B of cash in April and retains a total present value of R$1.9B, which it will receive over the coming years. The total of R$2.4B equates to around $412M. The company has no expected expenditures for new aircraft over the next 24 months, Gol added in a statement. The company is also in discussions for R$750M to R$1.0B in financing secured by unencumbered assets. It currently has R$1.7B of unencumbered assets.
Gol Linhas: Ops. expected to be at 12% of last year's schedule by end of May 10:3005/1305/13/20
Gol Linhas has grounded 120 aircraft since March 28 10:3005/1305/13/20
Gol Linhas maintains level of conservativeness in cash burn forecasts » 10:2905/1305/13/20
GOL Linhas Aereas…
GOL Linhas Aereas Inteligentes provides an Investor Update for April. As the pandemic situation develops, GOL will continue to provide monthly updates of results and liquidity to its constituents and stakeholders in the spirit of transparency. GOL made the necessary cost reductions quickly and shored up liquidity to withstand the crisis. To preserve cash, management acted on a variety of cost-saving measures, including the deferral of heavy maintenance costs and over 6,000 voluntary employee leaves of absence, or about 40% of its workforce. With limited visibility into the recovery, GOL's current planning scenario assumes (-45)% y/y 2020 capacity, including (-30)% y/y by 4Q20, but it has the flexibility to respond to prevailing demand trends. The Company is maintaining its level of conservativeness in its cash burn forecasts, which is prudent given the likely longer demand recovery curve, especially for international travel. On these conservative assumptions, the Company estimates that it has over 10 months of cash-on-hand, assuming that all financial expenses and debts are paid in full. The Company has grounded 120 aircraft since March 28 and flights in April were operated from the Guarulhos airport in Sao Paulo to all of Brazil's state capitals and the federal capital in Brasilia, which represents 7% of the April 2019 schedule. By the end of May, operations are expected to be at 12% of last year's schedule, with the planned re-opening of the bases at the Foz de Iguacu, Navegantes and Maringa airports, and the re-initiation of a limited number of flights from the Congonhas airport in Sao Paulo to the Santos Dumont and Galeao airports in Rio de Janeiro. GOL reduced its gross cash operating costs from R$9 million/day in April, and expects R$8 million/day for May.
Gol Linhas reports April total demand down 93.6% » 08:5905/0605/06/20
GOL's total demand…
GOL's total demand fell by 93.6%. GOL's total flight offer decreased 93.5% and the load factor was 79.5%. In the domestic market, demand decreased by 92.7% and supply was down 92.6%. GOL's domestic load factor was 79.8%. In the international market, GOL's demand and supply decreased by 99.5% and 99.2%, respectively, and international load factor was 56.3%.
Gol Linhas falls -9.2% » 09:4704/2404/24/20
Gol Linhas is down -9.2%,…
Gol Linhas is down -9.2%, or -40c to $3.95.