GOL announces results for 4Q15 and 2015

GOL reported its consolidated results for the fourth quarter and the full year of 2015. The Company’s net revenue reached R$2,652.1m in 4Q15, a decrease of 2.8% compared to the same period last year. In 2015, net revenue was R$9,778.0m, down 2.9% compared to 2014. Ancillary and cargo revenues reached R$325.9m in 4Q15, up by 12.7% and representing 12.3% of total net revenues. In 2015, ancillary and cargo revenues recorded R$1,194.6m, an increase of 17.1% and representing a 12.2% share of total revenue. In 4Q15, the operating result (EBIT) was a negative R$-95.3m with a margin of 3.6%. For 2015, EBIT recorded a negative R$-183.8m with margin of 1.9%. EBITDAR was R$398.9m in the quarter, with a margin of 15.0%. In 2015, EBITDAR reached R$1,336.0m, with a margin of 13.7%. GOL registered a net loss of R$-1,130.0m in 4Q15 and R$-4,291.2m for 2015 – mainly impacted by the devaluation of the Real and of the Venezuela Bolivar against the US Dollar in operating expenses and in the balance of the Company’s financial liabilities totaling R$2,767.3m and additional R$844.1m in income tax and deferred tax credits.