Gol widens Q2 net loss

Washington DC
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Brazilian carrier Gol widened its net loss in the second quarter, posting a loss of 715 million reais ($353 million) in the three months ending 30 June.

Operating revenues rose 16.9% compared to 2011 to 1.83 billion reais while operating expenses rose 19% to 2.19 billion reais.

The airline recorded an operating loss of 355 million reais, up 31% from the operating loss it posted a year ago.

Gol's passenger revenue per available seat kilometre rose 5.7% to 12.81 Brazilian cents, while its operating cost per ASK grew 8.2% to 17.48 Brazilian cents. Excluding fuel, its CASK rose 4% to 10.12 Brazilian cents.

On a systemwide basis, Gol and Webjet's passenger traffic grew 1.6% during the quarter versus 2011 while capacity was down 1.9%. The passenger load factor grew 2.4 percentage points to 69.5%.