It's worth remembering that Gol has been in Chapter 11 bankruptcy proceedings in the United States since mid-2011 and is currently in negotiations with investors to secure various sources of financing.

Brazilian airline Gol has nearly fivefold increased its annual losses in 2024 compared to 2023, reaching a loss of 6.067 billion Brazilian reais (US$1.056 billion), the company reported on Friday.

It's worth remembering that Gol has been in Chapter 11 bankruptcy proceedings in the United States since mid-2011 and is currently in negotiations with investors to secure various sources of financing.

Revenue reached 19.13 billion Brazilian reals (US$3.332 billion), representing a 1.9% increase compared to the previous year.

Passenger transport revenue, which accounted for 90% of total revenue, increased by 0.1%, while freight transport revenue increased by 22.7% year-on-year.

Operating costs, for their part, reached 19.326 billion Brazilian reais (US$3.366 billion), a figure 25.2% higher than in 2023.

For its part, Gol recorded a negative operating result of 197 million Brazilian reais (US$34.3 million), compared to the operating profit of 3.339 billion reais (US$581.6 million) in the previous year.

Gross operating profit (EBITDA) was 1.697 billion Brazilian reais (US$295 million), a 66.1% year-over-year decrease. The EBITDA margin was 8.9% (compared to 26.7% in 2023).

At year-end, net debt totaled 32.234 billion Brazilian reais (US$5.614 billion), 67.5% more than in December 2023.