July 8, 2019 / 4:50 PM / a year ago

Brazil airline Gol forecasts 24% increase in unit passenger revenue, earnings rise

BRASILIA, July 8 (Reuters) - Brazilian airline Gol expects unit passenger revenue to increase by 24% in the second quarter compared to the same period last year, the company said in a corporate filing on Monday.

For the April to June quarter, its earnings before interest, tax, depreciation and amortization (EBITDA) margin is expected to be between 22% and 24%, the company said, up from 16.4% in the same period a year ago.

The EBIT margin, before interest and tax, is expected to be around 9% to 10%.

The airline also said that unit costs excluding fuel are expected to have risen by about 15% in the second quarter from a year ago, mainly due to a 9% fall in the Brazilian real, higher payroll taxes, higher fees, and increased depreciation costs due to an expanded fleet.

Gol said it repaid 100 million reais ($26.5 million) of debt in the quarter and total liquidity at the end of June was estimated at 3.7 billion reais, up from 3.5 billion in the previous quarter.

$1 = 3.8055 reais Reporting by Jamie McGeever Editing by Bill Berkrot

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