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Gol May Boost Boeing Orders on Brazil Boom, World Cup
Gol Linhas Aereas Inteligentes SA, South America’s second-biggest airline, may buy more Boeing Co. 737 planes to meet demand spurred by Brazilian economic growth and an influx of visitors for the World Cup and Olympics.
Gol, based in Sao Paulo, will review fleet requirements in coming months and could sell shares or raise debt in the second half of next year to fund the purchases, Chief Financial Officer Leonardo Pereira said yesterday in an interview in London.
The Brazilian economy, Latin America’s largest, will grow 7.5 percent this year, according to economists in a Sept. 27 central bank survey. Gol based its current fleet plan on growth of 4 percent over the next five years, Pereira said, adding that extra planes would add seats in time for Brazil’s 2014 World Cup soccer tournament and the 2016 Olympic Games in Rio de Janeiro.
“If Brazil continues to grow at a faster pace than we thought, we’ll have to review our fleet plan,” Pereira said at London’s Heathrow airport, where he spoke at a low-cost airline conference. “2014 adds an additional component to this review, because 2014 and 2016 are going to be big events. And if you want to order a plane for 2014, you have to do it today.”
Gol has ordered a total of 127 Boeing 737 Next Generation jetliners since 2004 and is due to increase the fleet by three or four planes a year until the deliveries are complete by 2016, according to Pereira. The carrier also has options to purchase 40 more 737s and these could be converted to firm contracts if it decides to boost the fleet further.
Shares or Debt
“If we have an accelerated growth plan, one of the things we might consider would be selling shares,” the CFO said. “We’ll start receiving new planes at the middle or end of 2011, so any sale of debt or shares would be mid-2011 and not before.”
Gol was founded in 2001 and acquired unprofitable rival Varig, once Brazil’s biggest airline, in 2007. Tam SA, the country’s current No. 1, agreed to be bought by Lan Airlines SA of Chile on Aug. 13.
Gol fell 1.4 percent to 25.95 reais at the close of trading in Sao Paulo at 4 p.m. New York time.
The stock has risen 10 percent since the day before Lan agreed to buy Tam, a move Pereira said isn’t a “threat,” because Gol is focused more on domestic and regional services than on international routes.
‘Rational Player’
Lan is also “very conscious” of its high margins, with an operating profit last year equal to 13 percent of sales, and won’t want to flood the market with capacity, the finance chief said. Neither is the Chilean carrier likely to risk undermining its investment grade BBB credit ranking from Fitch Ratings.
“It’s probably going to be healthy for the industry in Brazil,” he said. “Most likely, they will be a rational player.”
Pereira said Gol isn’t planning to join an alliance in the near future, though with Lan a member of Oneworld and Tam in rival Star, one of the groupings will lose its South American representative when the merger is completed.
“If there are advantages in joining an alliance a couple of years down the line, we may consider it,” he said, “But today our model is to build this portfolio of bilateral agreements.”
Aerolineas Argentinas SA will sign up to the SkyTeam group this year, two people with knowledge of the agreement said this month. That may compromise Gol’s relationship with SkyTeam members Air France-KLM Group and Delta Air Lines Inc., two of the six carriers with which the company has bilateral alliances.
http://www.bloomberg.com/news/2010-09-30/g...-world-cup.html
Com o possível crescimento do PIB acima do esperado, provavelmente não só a GOL, mas todas as empresas devam rever seu plano de frota para este esperado “Boom”.
Gol Linhas Aereas Inteligentes SA, South America’s second-biggest airline, may buy more Boeing Co. 737 planes to meet demand spurred by Brazilian economic growth and an influx of visitors for the World Cup and Olympics.
Gol, based in Sao Paulo, will review fleet requirements in coming months and could sell shares or raise debt in the second half of next year to fund the purchases, Chief Financial Officer Leonardo Pereira said yesterday in an interview in London.
The Brazilian economy, Latin America’s largest, will grow 7.5 percent this year, according to economists in a Sept. 27 central bank survey. Gol based its current fleet plan on growth of 4 percent over the next five years, Pereira said, adding that extra planes would add seats in time for Brazil’s 2014 World Cup soccer tournament and the 2016 Olympic Games in Rio de Janeiro.
“If Brazil continues to grow at a faster pace than we thought, we’ll have to review our fleet plan,” Pereira said at London’s Heathrow airport, where he spoke at a low-cost airline conference. “2014 adds an additional component to this review, because 2014 and 2016 are going to be big events. And if you want to order a plane for 2014, you have to do it today.”
Gol has ordered a total of 127 Boeing 737 Next Generation jetliners since 2004 and is due to increase the fleet by three or four planes a year until the deliveries are complete by 2016, according to Pereira. The carrier also has options to purchase 40 more 737s and these could be converted to firm contracts if it decides to boost the fleet further.
Shares or Debt
“If we have an accelerated growth plan, one of the things we might consider would be selling shares,” the CFO said. “We’ll start receiving new planes at the middle or end of 2011, so any sale of debt or shares would be mid-2011 and not before.”
Gol was founded in 2001 and acquired unprofitable rival Varig, once Brazil’s biggest airline, in 2007. Tam SA, the country’s current No. 1, agreed to be bought by Lan Airlines SA of Chile on Aug. 13.
Gol fell 1.4 percent to 25.95 reais at the close of trading in Sao Paulo at 4 p.m. New York time.
The stock has risen 10 percent since the day before Lan agreed to buy Tam, a move Pereira said isn’t a “threat,” because Gol is focused more on domestic and regional services than on international routes.
‘Rational Player’
Lan is also “very conscious” of its high margins, with an operating profit last year equal to 13 percent of sales, and won’t want to flood the market with capacity, the finance chief said. Neither is the Chilean carrier likely to risk undermining its investment grade BBB credit ranking from Fitch Ratings.
“It’s probably going to be healthy for the industry in Brazil,” he said. “Most likely, they will be a rational player.”
Pereira said Gol isn’t planning to join an alliance in the near future, though with Lan a member of Oneworld and Tam in rival Star, one of the groupings will lose its South American representative when the merger is completed.
“If there are advantages in joining an alliance a couple of years down the line, we may consider it,” he said, “But today our model is to build this portfolio of bilateral agreements.”
Aerolineas Argentinas SA will sign up to the SkyTeam group this year, two people with knowledge of the agreement said this month. That may compromise Gol’s relationship with SkyTeam members Air France-KLM Group and Delta Air Lines Inc., two of the six carriers with which the company has bilateral alliances.
http://www.bloomberg.com/news/2010-09-30/g...-world-cup.html
Com o possível crescimento do PIB acima do esperado, provavelmente não só a GOL, mas todas as empresas devam rever seu plano de frota para este esperado “Boom”.
resolvido!
