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SAO PAULO, March 28 (Reuters) - Brazilian airline Gol GOLL4.SA on Thursday released its first quarterly results after filing for bankruptcy protection, slipping into the red in the fourth quarter of 2023 despite growing revenues.

Hurt by higher financial expenses, Gol posted a net loss of 1.09 billion reais ($218.34 million) for the three months ended in December 31, compared with a net profit of 230.9 million reais a year earlier.

The company, Brazil's No.2 carrier by market share, filed for Chapter 11 bankruptcy protection in the United States in January as it struggles with a heavy debt load after a fall in traffic due to COVID and delays in Boeing BA.N deliveries.

The airline said in a securities filing that net revenues rose 6.7% year-on-year in the fourth quarter to 5.04 billion reais, while recurring earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 38.3% to 1.61 billion.

Analysts and rating agencies said before Gol's bankruptcy filing that while the firm had strong operating figures amid healthy demand, high leasing and interest expenses had been pressuring its cash flow and affecting its debt profile.

Gol's gross debt ended 2023 at 20 billion reais, down 13.7% on a yearly basis, against a cash position of 782.5 million reais.

As part of its bankruptcy proceedings, Gol had previously disclosed that in January 2024 alone it posted a of $27 million, although that figure was still preliminary and not audited.

($1 = 4.9921 reais)

(Reporting by Peter Frontini and Gabriel Araujo; Editing by Chizu Nomiyama)

((Peter.Siqueira@thomsonreuters.com;))

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