GOL announces 1Q25 Earnings Result

Rhea-AI Summary

GOL Airlines reported strong Q1 2025 results, showcasing significant growth across its business segments. The airline expanded its capacity (ASK) by 12.0% year-over-year, with international capacity surging nearly 50%. The Passenger Business segment saw Net Revenue increase by 19.4%, supported by a 6.6% rise in RASK. GOL achieved an impressive 89.4% On-time Performance, making it Brazil's most punctual airline. The company added two new MAX-8 aircraft, bringing its fleet to 54 units. The Smiles loyalty program demonstrated robust growth with miles redeemed up 17.9% and revenue increasing 12.4%. Clube Smiles reached nearly 1.2 million subscribers, up 6.9%. GOLLOG, the cargo division, reported a 17.0% revenue increase and 6.8% growth in transported weight.

Positive

• Net Revenue in Passenger Business grew 19.4% YoY
• International capacity increased by nearly 50% YoY
• On-time Performance improved to 89.4%, leading in Brazil
• RASK increased 6.6%, showing improved revenue efficiency
• Smiles loyalty program revenue grew 12.4%
• GOLLOG cargo revenue increased 17.0%
• Fleet expansion with two new MAX-8 aircraft

Negative

• None.

Insights

Financial Analyst

GOL shows strong Q1 2025 growth with increased capacity, revenue, and improved punctuality across all business segments.

GOL's Q1 2025 results demonstrate robust operational expansion and revenue growth across all business segments. The airline increased overall capacity by 12.0% year-over-year, with international capacity surging nearly 50%, reflecting successful execution of their network expansion strategy.

The company's operational efficiency shows marked improvement, with on-time performance reaching 89.4% (up 6.5 percentage points), making GOL the most punctual airline in Brazil during the quarter. This operational reliability likely contributed to the 19.4% growth in Passenger Business Net Revenue and 6.6% increase in RASK (Revenue per Available Seat Kilometer).

Fleet modernization continues with two new MAX-8 aircraft added during Q1, bringing the total to 54 units. These newer aircraft typically offer 15-20% better fuel efficiency than previous generations, supporting long-term cost control. The loyalty program Smiles shows healthy growth with miles redeemed up 17.9% and revenue increasing 12.4%. The Clube Smiles subscriber base grew 6.9% to reach nearly 1.2 million members, building a reliable revenue stream.

GOLLOG, the cargo division, posted strong performance with transported weight up 6.8% and revenue increasing 17.0%, indicating improved yield management and possibly a more favorable product mix. The diversification across passenger, loyalty, and cargo segments provides the airline with multiple revenue streams, important in an industry known for cyclicality.

While the release indicates positive operational and financial trends, it lacks comprehensive financial metrics such as overall revenue, EBITDA, net income, debt levels, and cash position, making a complete financial assessment challenging.

SÃO PAULO, May 15, 2025 /PRNewswire/ -- GOL Linhas Aéreas Inteligentes S.A. (B3: GOLL4), one of the leading airlines in Brazil and part of the ABRA Group, announced today its consolidated results for the first quarter of 2025 (1Q25). All information herein is presented in Brazilian Reais (R$), unless otherwise noted, in accordance with international accounting standards (IFRS), with adjusted metrics made available to enable comparison of this quarter (1Q25) with the first quarter of 2024 (1Q24).

Highlights

GOL – Passenger Business

• The Company increased its capacity (ASK) by 12.0% in 1Q25 (vs 1Q24), highlighting an increase of almost 50% in its international capacity in the same period (vs 1Q24), a reflection of the plan to rebuild capacity and expand the network.
• On-time Performance (OTP) remained consistent with recent months and reached 89.4% in 1Q25, an increase of 6.5 p.p. (vs 1Q24), placing the Company as the most punctual airline in Brazil in the quarter.
• Passenger Business' Net Revenue grew by 19.4% in 1Q25 (vs 1Q24), driven by a 6.6% increase in RASK, reflecting greater efficiency in generating revenue per available seat.
• In 1Q25, the Company received two new MAX-8 aircraft, totaling 54 units of the model in its fleet, in line with the fleet renewal strategy and greater operational efficiency.

Smiles – Loyalty Program

• Miles redeemed grew by 17.9% in 1Q25 (vs 1Q24), highlighting a 1.4 p.p. increase in the share of redemptions for non-airline products and services — reinforcing Smiles' positioning as an increasingly complete loyalty platform.
• Smiles' revenue maintained its growth trajectory, with a 12.4% increase in 1Q25 (vs 1Q24).
• Clube Smiles' number of customers grew by 6.9% in 1Q25 (vs 1Q24), reaching the level of almost 1.2 million subscribers.

GOLLOG – Cargo Business

• The transported weight in 1Q25 increased by 6.8% (vs 1Q24), reflecting the expansion of dedicated cargo operations and the higher demand in the period.
• GOLLOG's revenue continued to grow in 1Q25, with an increase of 17.0% (vs 1Q24).

FULL EARNINGS RELEASE & PRESENTATION

Access the earnings release, presentation and full financial statements at: www.voegol.com.br/ir 

Investor Relations: ir@voegol.com.br

About GOL Linhas Aéreas Inteligentes S.A. 

GOL is a leading domestic airline in Brazil and part of Abra Group. Since it was founded in 2001, the Company has the lowest unit cost in Latin America, democratizing air transportation. The Company has alliances with American Airlines and Air France-KLM and provides eighteen codeshares and interline agreements to its Customers, bringing more convenience and simple connections to any place served by these partnerships. With the purpose of "Being the First for All," GOL offers the best travel experience to its passengers and the best frequent-flyer program, Smiles. In cargo transportation, Gollog delivers orders to different regions in Brazil and abroad. The Company has a team of 14,5 thousands highly qualified aviation professionals focused on Safety. GOL's #1 value and operates a standardized fleet of 139 Boeing 737 aircraft. The Company's shares are traded on the B3 (GOLL4). For further information, go to www.voegol.com.br/ri.

View original content:https://www.prnewswire.com/news-releases/gol-announces-1q25-earnings-result-302456616.html

SOURCE GOL Linhas Aéreas Inteligentes S.A.

FAQ

What was GOL Airlines' revenue growth in Q1 2025?

GOL's Passenger Business Net Revenue grew by 19.4% in Q1 2025 compared to Q1 2024.

How many MAX-8 aircraft does GOL (GOLL4) have in its fleet after Q1 2025?

GOL has 54 MAX-8 aircraft in its fleet after receiving two new units in Q1 2025.

What was GOL Airlines' on-time performance in Q1 2025?

GOL achieved an 89.4% on-time performance in Q1 2025, making it Brazil's most punctual airline.

How much did GOL's international capacity increase in Q1 2025?

GOL's international capacity increased by nearly 50% in Q1 2025 compared to Q1 2024.

What was the growth in GOL's Smiles loyalty program in Q1 2025?

Smiles saw a 17.9% increase in miles redeemed and 12.4% revenue growth, with Clube Smiles reaching nearly 1.2 million subscribers.