Gol Linhas' New Business Unit Offers Maintenance Services

Gol Linhas Aereas Inteligentes S.A. (NYSE:GOL) has extended its strong expertise in aircraft maintenance to third-party airlines across the globe through the launch of abusiness unit — GOL Aerotech. The center, located at the Confins Airport in Minas Gerais, Brazil, offers aircraft maintenance, repairs, and aircraft and components overhauls (MRO). Notably, the carrier has been performing MRO on its own single fleet of Boeing (NYSE:BA) aircraft in this center for more than 13 years.

Some of the first customers of GOL Aerotech are Capital Group and Dubai Aerospace. The unit is expected to generate revenues of R$140 million in 2020. It is certified by ANAC (National Agency Civil Aviation Administration, Brazil), the FAA (Federal Aviation Administration, United States) and EASA (European Union Aviation Safety Agency) to provide maintenance services to companies and airlines that have Boeing 737 Next Generation, 737 Classic, 737 MAX and Boeing 767 range of aircraft.

Gol Linhas invested more than R$130 million in the aircraft maintenance facility at Confins. Covering an area of 145,000 square meters, the facility has the capacity to service an average of 80 aircraft per year and provide more than 600,000 hours of maintenance availability annually. With adequate staff strength, Gol Linhas is known to achieve an on-time delivery and aircraft release of 98% for heavy maintenance.

Zacks Rank & Key Picks

Gol Linhas carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space are Allegiant Travel Company (NASDAQ:ALGT) , Alaska Air Group, Inc. (NYSE:ALK) and ControladoraVuelaCompania de Aviacion, S.A.B. de C.V. (NYSE:VLRS) . While Allegiant sports a Zacks Rank #1 (Strong Buy), Alaska Air and ControladoraVuela carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Allegiant, Alaska Air and ControladoraVuela have rallied more than 69%, 13% and 95%, respectively, so far this year.

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