Home Brazil After a hard 2016 GOL Airlines is back to profit

After a hard 2016 GOL Airlines is back to profit

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By mid-2016 GOL Airlines, facing difficulties related to Brazil’s economic downturn, decided to reduce its extensive flight network, cutting the number of available seats by 17% over the year. Things seems to have worked well for the company, that on Monday (20) reported for the full-year 2016 a net profit of BRL 1.1 billion (around $ 338.5 million), a reversal from the BRL 4.3 billion net loss in 2015.

In a press conference, GOL’s CEO Paulo Kakinoff informed that In 2016, GOL achieved the number one position as the largest airline in Brazil, as measured by market share of RPKs and passengers transported.: “We are Brazil’s favorite airline having carried almost 400 million passengers since our first flight in 2001. In 2016, over 32 million passengers chose to fly GOL.