GOL - false signs of recovery?

GOL, the Brazilian LCC, had appeared to be arresting the decline in its load factor in Apr-2009, but it slipped again in May-2009. GOL reported an average load factor of 57.9% last month, declining 7.5 ppts year-on-year, despite capacity cuts of 8.9%. [1325 words]

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This report contains the following subheadings:

• Aiming to report a profit in 2009 by focusing on domestic operations
• To complete fleet standardisation programme by year end
• GOL operating fleet plan 2009 to 2014 (year end): Jun-2009
• Issues third series of VRG secured non-convertible debentures
• Signs passenger payment agreements
• Appoints new internal auditor

This report contains the following charts and tables:

• GOL domestic monthly passenger traffic (millions) and load factor (%): 12 months to 31-May-09 and 31-May-09
• GOL traffic highlights for May-2009
• GOL 2009 and 2010 Consolidated Guidance: Apr-2009
• GOL share price growth: Jul-2008 to Jun-2009