SAO PAULO, Brazil, July 2 GOL-Investor-Update
SAO PAULO, Brazil, July 2 /PRNewswire-FirstCall/ -- GOL Linhas Aereas
Inteligentes S.A. (NYSE: GOL and Bovespa: GOLL4), the parent company of GOL
Transportes Aereos S.A. and VRG Linhas Aereas S.A., provides its updated
investor.
Current News
GOL and VRG have recently added service to the following city pairs:
GTA-City Pair Weekly Start Date
Freq.
Brasilia - Recife 7x 12-may-08
Recife - Juazeiro do Norte7x 12-may-08
Juazeiro do Norte - Recife7x 12-may-08
Recife - Brasilia 7x 12-may-08
Sao Paulo/Guarulhos - Brasilia7x 2-jun-08
Brasilia - Porto Velho7x 2-jun-08
Porto Velho - Rio Branco 7x 2-jun-08
Rio Branco - Brasilia 7x 2-jun-08
Brasilia - Sao Paulo/Guarulhos7x 2-jun-08
VRG-City Pair Weekly Start Date
Freq.
Sao Paulo/Guarulhos - Recife 7x 7-apr-08
Recife - Sao Paulo/Guarulhos 7x 8-apr-08
Sao Paulo/Guarulhos - Manaus 7x 9-jun-08
Manaus - Sao Paulo/Guarulhos 7x 9-jun-08
Further details: www.voegol.com.br and www.varig.com
General Guidance
General Comments 2Q08E:
-- Brazilian domestic demand growth at 1.8x GDP
-- Brazilian 2Q08e GDP Growth at 5.2%
-- Brazilian 2Q08e Domestic RPK Growth at 10.4%
Industry Metrics 1Q08A(+/-) 2Q08E(+/-)
Brazilian GDP Growth(%) 5.8 5.2
Domestic RPK Growth(%) 10.210.4
Brazilian Inflation(%,IPCA) 6.1 6.6
BRL / USD (R$,average) 1.741.65
WTI (US$,average)98 124
2Q08E
General Comments:
-- Average fuel price/liter: R$2.12
-- Average Fare: R$194
-- CASK: R$16.5e cents
-- RASK: R$13.5e cents
Consolidated 1Q08A(+/-) 2Q08G(+/-) 2Q08E(+/-) 2Q07A(+/-)
ASK Growth 58% 25% 23% 87%
Load Factor 62% 61-63% 64-65% 66%
Yield(cents)R$22 R$20R$19R$18
Cask ex-fuel(cents)R$8.8R$8.5 R$9.4 R$8.6
ASKs by Aircraft Type
2Q08
(quarter average)
B737 B767
Available Seat Kilometers (ASK) - as a
percentage of total ASKs (%) 85% 15%
GOL's average stage length is projected to be approximately 940 kilometers
in 2Q08 versus 958 kilometers in the 2Q07.
Aircraft Delivery Schedule
As of 03/31/2008, GOL's fleet was comprised of 103 Boeing 737 aircraft and
11 Boeing 767s and had on order 99 aircraft with options to acquire additional
40 aircraft. The 2008 delivery schedule and related financings are:
B737-800 SFP firmCommitted Financing
Mortgage(Exim) Sale/Leaseback
2Q08 2 0
2008E5 4
During the 2Q, GOL received into its consolidated fleet 2 Boeing 737
aircraft, and returned 3 Boeing 737-300s and one 767-300.
Fuel Hedges
The Company continues to enter into advanced fuel derivative agreements to
reduce its exposure to fluctuations in fuel price. Currently, the agreements
covering 2008 are:
2Q08
Estimated Fuel Liters Consumed(mm) 357
Estimated Fuel Price per Liter(R$) 2.12
150 million (42%)
Liters(% of estimated consumption)HO and WTI with average price of
US$95.6/bbl
Operating Margin
(Estimated EBIT margin, US GAAP)
2Q08
Estimated Operating Margin(%) -23-21%
Income Before Income Taxes
(Estimated EBT Margin, US GAAP)
2Q08
Estimated Pre-Tax Margin(%) -19-17%
Tax Rate
GOL currently expects an annual effective tax rate in U.S. GAAP of
approximately 25%. However, its actual tax rate in both 2Q and full year 2008
could differ due to the non-deductibility of certain items for tax purposes.
Weighted Average Shares Outstanding
Share count estimates for calculating basic and diluted earnings per share
are:
2Q08
BasicDiluted
201.2mm 201.2mm
The number of shares used in our actual earnings per share calculations
will likely be different from those stated above.
About GOL Linhas Aereas Inteligentes S.A.
GOL Linhas Aereas Inteligentes S.A. is the parent company of Brazilian
airlines GOL Transportes Aereos S.A. and VRG Linhas Aereas S.A. GTA offers
over 640 daily flights to 57 destinations connecting the most important cities
in Brazil as well as the main destinations in South America.
SOURCE GOL Linhas Aereas Inteligentes S.A.
