So cost and also CapEx will be impacted especially in the next 12 months.
Mario Liao: I just wanted to add Gabriel, the following. If you remember, we have been — we provisioned some of the return costs — the maintenance return costs in our balance sheet back in by then of 2021. So, of course, part of that impact is going to be compensated. Not all because the provision is prorated as long as the cycles we are going to start to be constituted. So given that we anticipated some of the redelivers of the aircraft in ‘25 and ‘26, and now we are anticipating some of the returns as one of the big efforts that we’re doing in order to rebalance our fleet and recovering the efficiency and also the productivity, we have been impacted by this higher cost going forward. And at the same time, the potential profits on gains for the new deliveries.
Now we have some uncertainty. So that has been driving the results to be temporarily, with the cost to temporarily increase from what we previously forecasted. But at the same time, what you are probably can think is that. At the same time, we are doing that effort in terms of reducing that item is and we can potentially start to have some impacts on the P&L on the maintenance line. At the same time, on the cash flow perspective, as we mentioned before, we are also paying some inefficient drag related to leases, with no aircraft available. We, also, we need to perform into additional leases for spare engines and maintenance reserves. So everything that in order to address that impact on the maintenance going forward, we can expect that, we can also compensate or offset that cost impact going forward with a lower drag in the cash flow and at the same time to have a more neutral scenario because we are fixing that issue right now.
So, that’s the only another way to think in terms of cash flow impact.
Operator: Our next question comes from Diego Villalobos from Moneda Asset. Please Mr. Diego your microphone is open.
Diego Villalobos: I just want to follow-up in the lessors topic. Could you update us on the situation with in the negotiations? Have there been any updates and what are you seeing as the main bottlenecks? And the second question is regarding the 2024 2025 maturities. What are you expecting to confront those? And are there any plans over there? Thanks.
Celso Ferrer: Good morning, Diego. So on the lessors side, we continue to talk with all the lessors. We have 25 lessors and to address, I mean, the accumulated liabilities that we have on the leasing side, most of them reflected as lease deferrals that, of course, we are trying to negotiate to push them to the to the right. But also we are discussing with lessors now, I mean, how can we address the end of losing compensation of the airplanes, especially the planes that we are not flying and also maintenance facilities that we are discussing to how can we address the engines. So I think, ourselves and other source, we don’t want to have planes on the ground here or any other places. So, we are going lessor by lessor especially with the ones that are have this situation of engines and planes on the ground to make sure, we can address away and expedite the way without a tremendous cash burn all at once.
So, the negotiations are improving. We have, I mean, it takes time. So, we have been this since last year when we issued the SAN. It takes time, but we are, I mean, we are making progress with them. Mario?
Mario Liao: Yes, for the second question related to the outstanding amount on the bonds, Diego. As you know, for 2024 we have already reduced the spring maturity risk. So, now the outstanding amount is below BRL42 million. And that’s, of course, have the shortest maturity in the middle of next year. And on the ’25 and ’26, there is still two years, until the maturity. So, the point is that, we are focus on now on putting the Company back on-track in terms of operational and productivity performance, and also that resolving, most of that capacity plus the CapEx issue that is something that if you can fix that, company will be behaving much better in terms of their financial performance because something that I wanted to highlight is that we are producing that EBIT and EBITDA generation even carrying this drag in our balance sheet.
So, we really understand that with the efforts and this very good work with our team, we can really been outperforming our results when we have this CapEx and capacity being addressed. So, that’s our main priority right now. And of course, if that’s happened, we can turn it into higher margins better cash flow. And when the scenario will happen, we drive to all alternatives that go has available that we can access where is going to be the best way to address all those ‘25, ‘26 bonds. So this too far away, right now, of course, we try to think what we can do in some anticipation, but this is not the top priority right now or neither the best user of cash at this point in time. So when the time is appropriate, of course, we are going to be discussing that topic.
And right now, of course, all the alternatives are on the table, but we need to put the Company back on track first. Otherwise, there’s no room to discuss anything on the ‘25, ‘26 bonds. And the ‘24, as I mentioned is pretty much more reduced as a risk. And that’s something that we also going to be handle when we can get into the 2023 results and start to look on ‘24.
Operator: Excuse me. That concludes today question-and-answer section. I would like to invite Mr. Celso Ferrer to continue with his closing remarks. Please, sir, make yourself comfortable.
Celso Ferrer: I hope you’re enjoying today’s webcast. Our investor relations and communications teams are available to speak with you as needed. Thank you all. Have a great day.
Operator: That concludes today’s conference call from GOL Airlines. Thank you very much for your participation and have a nice day.
