GOL Announces Winding Up of Webjet's Activities

               GOL Announces Winding Up of Webjet's Activities

PR Newswire

SAO PAULO, Nov. 23, 2012

SAO PAULO, Nov. 23, 2012 /PRNewswire/ -- GOL Linhas Aereas Inteligentes S.A.
(BM&FBovespa: GOLL4 and NYSE: GOL), (S&P: B, Fitch: B+, Moody`s: B3), the
largest low-cost and low-fare airline in Latin America, hereby announces that,
as of today, it will begin the process of winding up the activities of its
subsidiary Webjet and the discontinuation of its brand.

The first step is to extinguish flight operations. Webjet has an operational
model based on a fleet that mostly consists of aging Boeing 737-300 aircraft
that are advanced age, technologically out of date and consume large amounts
of fuel. Given the Brazilian sector's new cost standards, this model is no
longer competitive.

As a result of the winding up of operations, around 850 employees, including
flight and cabin crew and maintenance personnel, will be laid off.

Webjet's clients and passengers will be fully served by GOL and their flights
will be guaranteed. As of this date, GOL will be responsible for all air
transport and associated services for these passengers. In this context, all
the necessary measures are been taken.

To access the document full version, visit our website at
www.voegol.com.br/ir.

CONTACTS

INVESTOR RELATIONS
Edmar Lopes – CFO
Andre Brandi - Planning and IR Manager
Gustavo Mendes - Investor Relations
Phone: (11) 2128-4700

E-mail: ri@golnaweb.com.br
Website: www.voegol.com.br/ri
Twitter: @GOLinvest

CORPORATE COMMUNICATIONS
Phone: (11) 2128-4413
E-mail: comcorp@golnaweb.com.br
Twitter: @GOLcomunicacao

MEDIA RELATIONS
Edelman (USA and Europe): Meaghan Smith and Robby Corrado
Phone: +1 (212) 704-8196 / 704-4484
E-mail: meaghan.smith@edelman.com or robert.corrado@edelman.com

ABOUT GOL LINHAS AEREAS INTELIGENTES S.A.

GOL Linhas Aereas Inteligentes S.A. (Bovespa: GOLL4 and NYSE: GOL), the
largest low-cost and low-fare airline in Latin America, offers around 900
daily flights to 62 destinations in 9 countries in South America and the
Caribbean under the GOL and VARIG brands, using a young, modern fleet of
Boeing 737-700 and 737-800 Next Generation aircraft, the safest, most
efficient and most economical of their type.

SOURCE GOL Linhas Aereas Inteligentes S.A.

Website: http://www.voegol.com.br/ir
 
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