GOL Linhas Aéreas Reports Impressive Financial Results for Q4 2024

GOL Linhas Aéreas Inteligentes S.A. (B3: GOLL4), a prominent Brazilian airline, published its consolidated earnings report for the fourth quarter of 2024 today. All figures presented in Brazilian Reais (R$), align with international financial reporting standards (IFRS), providing adjusted metrics to facilitate direct comparisons with the same period from the prior year.

Key Highlights

Passenger Business Performance

GOL has concluded 2024 with the remarkable recognition of being the second-most punctual low-cost airline globally, achieving an impressive on-time performance rate of 85.1%. This figure marks a notable increase of 5.4 percentage points from 2023. As of January 2025, GOL has also earned the title of the most punctual low-cost airline in the world, further solidifying its commitment to customer satisfaction and operational excellence.

In 4Q24, GOL celebrated the induction of its 50th MAX-8 aircraft into its fleet, including the latest PS-GOL aircraft, expanding the total number to 52. This strategic move has significantly enhanced the airline's capacity, increasing Available Seat Kilometers (ASK) by 6.8% compared to the previous year's fourth quarter. Concurrently, the airline recorded a 2.5% rise in Revenue per Available Seat Kilometer (RASK), demonstrating a solid balance between fleet expansion and high-quality revenue generation.

GOL has also excelled in consumer satisfaction, as represented in the ANAC Consumer Monitoring Bulletin, where it achieved the lowest consumer complaint rate in 2024 among Brazilian airlines.

Smiles - Growth in Loyalty Program

GOL's loyalty program, Clube Smiles, saw a customer base increase of 7.2% during the fourth quarter of 2024, now catering to 1.2 million customers. The program’s revenue continued its upward trend with a notable 4.5% increase compared to the previous quarter and a 6.5% rise compared to the full year 2023. Additionally, the redemptions of miles surged by 17.9% in 4Q24 relative to the same quarter last year, with a noteworthy increase in non-airline product and service redemptions.

GOLLOG - Landmark Performance in Cargo Operations

For the first time, GOLLOG, the cargo section of GOL, surpassed R$ 1 billion in annual revenue, achieving a phenomenal 32% growth compared to FY23. This milestone translates to nearly R$ 1.3 billion in FY24, realizing significant targets outlined in its 2022 business framework.

GOLLOG celebrated its 24th operational anniversary in January 2025, having transported 2.9 million packages throughout 2024. The division employs over 1,800 personnel and operates across 58 cargo terminals and 60 stores, effectively serving over 4,000 cities in Brazil, reinforcing its crucial role in the logistics network.

Conclusion

As we move into 2025, GOL Linhas Aéreas stands as a symbol of operational excellence and innovation in the Brazilian aviation market. With ongoing enhancements in fleet management, customer service initiatives, and loyalty programs, the airline is not merely focused on growth but also on maintaining high standards of satisfaction for its passengers and stakeholders alike. For additional details of the earnings results and comprehensive financial statements, interested parties are encouraged to visit GOL’s Investor Relations.