‍DALLAS — ABRA Group airline GOL Linhas Aéreas Inteligentes (G3) announced today its consolidated results for the fourth quarter of 2024 (4Q24). 

Passenger Business

• GOL ended 2024 as the second-most punctual low-cost airline in the world, with an on-time performance rate of 85.1%, an increase of 5.4 percentage points compared to 2023. In January 2025, the Company became the world's most punctual low-cost airline and the most punctual in Latin America. These results reinforce our commitment to operational excellence and customer satisfaction.
• GOL celebrated the milestone of 50th MAX-8 aircraft in the 4Q24 with the PS-GOL aircraft and ended the year with a fleet of 52 MAX-8.
• GOL increased its capacity (ASK) by 6.8% (vs 4Q23), with a 2.5% rise in unit revenue (RASK) during the same period, balancing expansion and sustainable revenue quality.
• GOL was the airline with the best position in the "ANAC Consumer Monitoring Bulletin," with Brazil's lowest consumer complaint rate in 2024.

GOLLOG Cargo Business

• For the first time in its history, GOLLOG surpassed the R$1 billion milestone in annual revenue, growing 32% compared to FY23 and reaching nearly R$1.3 billion in FY24. This achievement surpassed the ambitious targets set in its business plan, which was defined in 2022.
• In January 2025, GOLLOG celebrated 24 years of operation, transporting 2.9 million packages in 2024. GOLLOG currently has over 1,800 employees providing services to deliver shipments. Additionally, the unit operates 58 cargo terminals (TECAs) and 60 stores, covering more than 4,000 cities, strengthening the infrastructure and enabling the service of strategic points across Brazil.

Smiles Loyalty Program

• Clube Smiles's customer base grew 7.2% in 4Q24 (compared to 4Q23), reaching 1.2 million.
• Smiles revenue continued to grow in 4Q24, with a 4.5% increase (vs. 3Q24), and ended the year with a 6.5% increase vs. FY23.
• Miles redeemed grew 17.9% in 4Q24 compared to 4Q23, highlighting a 5.7 p.p. increase in the share of miles redeemed with non-airline products and services, reflecting Smiles' positioning as a complete loyalty platform.

Merger Talks

At the end of January, the Brazilian government expressed its support for the potential merger between Brazil’s two low-cost carriers (LCC), G3 and Azul Linhas Aéreas Brasileiras (AD). The government cited the merger's importance in stabilizing the aviation sector and safeguarding employment.

On January 15, 2025, the Brazilian LCCs and Abra Group Limited, G3's primary investor, signed a non-binding memorandum of understanding to explore merging their operations in Brazil. If approved, the merger would establish a dominant carrier with a 60% share of Brazil's domestic market, surpassing Chile-based LATAM Airlines (LA), which currently holds a 40% share.

This potential merger comes amid financial struggles for Latin American airlines, exacerbated by the COVID-19 pandemic. G3 is under Chapter 11 bankruptcy reorganization in the U.S., while AD has renegotiated its financial obligations with aircraft leasing companies, granting them equity stakes in return.

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