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Smiles closes 2020 with recovery of 90% of revenue when compared to the end of 2019

Smiles, the company that manages Gol’s mileage program, ended 2020 with a 90% recovery in net revenue, when compared to the same month of 2019. The information appears in the management’s message to shareholders, released together with the results for the year. In the text, Smiles says that the pandemic “was a blow” for the company, which was on an upward trend, but quarter after quarter, managed to resume its performance. “Our customers accumulated 25 MM miles in the fourth quarter, and redemptions reached 20 MM miles, representing 19% growth over the previous three months and 80% of the volume compared to the same period in 2019”, it says. The company also highlighted the cash generation of BRL 332.2 M, an amount 51.5% higher than that recorded in the fourth quarter of 2019. –  https://valor.globo.com/empresas/noticia/2021/03/09/smiles-fecha-2020-com-recuperacao-de-90percent-da-receita-vista-ao-fim-de-2019.ghtml