UK markets close in 2 hours 37 minutes
  • FTSE 100

    7,556.22
    +47.07 (+0.63%)
     
  • FTSE 250

    20,405.24
    +22.48 (+0.11%)
     
  • AIM

    932.23
    -1.88 (-0.20%)
     
  • GBP/EUR

    1.1874
    +0.0015 (+0.12%)
     
  • GBP/USD

    1.2036
    -0.0022 (-0.18%)
     
  • BTC-GBP

    19,920.86
    -168.16 (-0.84%)
     
  • CMC Crypto 200

    570.55
    -20.21 (-3.42%)
     
  • S&P 500

    4,297.14
    +16.99 (+0.40%)
     
  • DOW

    33,912.44
    +151.39 (+0.45%)
     
  • CRUDE OIL

    89.92
    +0.51 (+0.57%)
     
  • GOLD FUTURES

    1,790.20
    -7.90 (-0.44%)
     
  • NIKKEI 225

    28,868.91
    -2.87 (-0.01%)
     
  • HANG SENG

    19,830.52
    -210.34 (-1.05%)
     
  • DAX

    13,854.39
    +37.78 (+0.27%)
     
  • CAC 40

    6,579.10
    +9.15 (+0.14%)
     

Brazil's Gol says domestic air travel outlook improving, aims to raise $563 million

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
The logo of Brazilian airline Gol Linhas Aereas Inteligentes SA is seen inside an airplane at Augusto Severo International Airport in Natal
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

SAO PAULO (Reuters) - Brazilian airline Gol Linhas Aereas said there was an improvement in domestic ticket sales in May, driven by advances in Brazil's COVID-19 vaccination program.

"The rise in ticket sales in May, combined with other initiatives, are paving the way for significant improvements in this recovery phase," Gol said on Wednesday in a securities filing.

Gol warned that although immunizations are helping air travel in Brazil, there is still uncertainty related to the health crisis.

Gol forecasts an 81% occupancy rate in the second quarter, up from 79% previously. Recurring costs are also expected to be 40% below from the second quarter last year, an improvement from a fall of 27% forecast before.

By the end of this quarter, Gol said it will have raised almost 3 billion reais ($563 million) in new capital through various transactions.

Gol expects Brazil's gross domestic product to grow by 8.8% in the second quarter and by a preliminary 2.3% in the second half of 2021, according to the filing.

It also expects average domestic routes to grow from 114 in the current quarter to a preliminary 159 in the second half of 2021.

($1 = 5.3281 reais)

(Reporting by Ana Mano, editing by Louise Heavens)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting