August 2, 2018 / 11:20 AM / 2 months ago

Brazil airline Gol reports deeper loss than expected in quarter

SAO PAULO, Aug 2 (Reuters) - Brazilian airline Gol Linhas Aereas Inteligentes SA on Thursday reported a second-quarter net loss of 1.326 billion reais ($354 billion), much deeper than analysts expected, and following a net loss of 478 million reais a year earlier.

The results missed the average estimate in a Thomson Reuters I/B/E/S poll of five analysts, who gave their forecasts in U.S. dollars, for a net loss of $125 million.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 47.3 percent from a year earlier to 208 million reais. Four analysts surveyed had forecast EBITDA of $67 million, on average.

$1 = 3.75 reais Reporting by Marcelo Rochabrun; Editing by Bernadette Baum

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