Upbeat revenues from passenger transportation boost Gol Linhas' (GOL) top line in Q2.
Brazilian airline Gol Linhas Aereas Inteligentes SA on Thursday reported a steep second-quarter net loss mainly due to foreign exchange variations, sending its shares down even as its net revenue more than tripled over the same period of 2021. The company also provided new forecasts for 2022 to reflect frequent jet fuel price increases and pass-through effects on fares, lowering its outlook for key metrics such as EBITDA margin and load factor but increasing its revenue forecast. Gol's quarterly net loss reached 2.85 billion reais ($544 million) versus a profit of 658 million a year earlier, but the company said the bottom line was heavily affected by currency swings.
* Brazilian airline Gol reports Q2 net loss; shares down * Argentina president sacks economy chief after less than a month * Recession lurks as U.S. economy contracts again in Q2 By Anisha Sircar July 28 (Reuters) - Latin American stocks and currencies posted solid gains on Thursday amid a global risk rally sparked by hopes of a possible slowdown in the pace of U.S. interest rate hikes, with a boost in key commodities lending support to the resource-heavy region. Stocks jumped 1.7%, while currencies added 1.5%. The U.S. central bank delivered another 75 basis-point rate increase on Wednesday, but comments by Federal Reserve Chairman Jerome Powell led to hopes of smaller increases in the future, as well as an embracing of riskier assets.