Gol Posts Q2 Net Loss

Gol Linhas Aereas

posted a net loss in the second quarter. Gol posted a Q2 net loss of 805 million reais ($397 million), versus a year-ago loss of 358 million reais. However, analysts were expecting a loss of 292 million reais. Gol's earnings before interest and taxes (EBIT) dropped to negative 355 million reais. Its earnings before interest, taxes, depreciation, amortization and aircraft leasing (EBITDAR) declined to negative 62 million reais, compared to analysts' estimates of negative 35 million reais. Gol shares gained 1.87% to close at $5.45 yesterday.