Gol Linhas sees 2023 revenue up about 32% y/y

Gol Linhas (GOL) provides its preliminary financial outlook for 2023. Highlights: To meet the expected domestic air travel demand for 2023 of approximately 100B RPKs, the company plans to operate an average of 120 aircraft in its network during the year. GOL expects to end 2023 with 53 Boeing (BA) MAX aircraft in its fleet. The new and more efficient Boeing MAX will contribute to enhanced productivity, lower unit costs, and reduced carbon emissions. The company’s revenue for 2023 is expected to increase around 32% compared to 2022. GOL estimates that its 2023 results will include savings of R$450M from the re-incorporation of Smiles and R$400M from the additional MAX aircraft in the fleet. In 2023, GOL expects to generate approximately R$4.5B of operating cash flow and neutral free cash flow after net capex and debt service. Total liquidity and available cash are expected to remain stable when compared to end of 2022.