GOL records operating margin of 4.9% in 1Q13

                 GOL records operating margin of 4.9% in 1Q13

PR Newswire

SAO PAULO, May 13, 2013

SAO PAULO, May 13, 2013 /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, announces its results
for the first quarter of 2013 (1Q13). All information presented herein is in
accordance with International Financial Reporting Standards (IFRS) and in
Brazilian Reais (R$), and all comparisons are with the first quarter of 2012


  oGOL recorded an operating result of R$101 million in 1Q13, accompanied by
    a margin of 4.9%, an increase of R$94 million or 4.6 percentage points,
    versus an operating result of R$7 million in 1Q12, with a margin of 0.3%.
  oNet revenue per available seat-kilometer (PRASK) reached R$15.46 in 1Q13,
    12.4% up over 1Q12. This performance gave momentum to the annual increase
    of 9.1% in revenue per available seat-kilometer (RASK), which came to
    R$16.89 in 1Q13.
  oOperating cost per available seat-kilometer excluding fuel costs (CASK
    ex-fuel) stood at 8.71  cents (R$) in 1Q13, remaining virtually flat in
    relation to the 8.63 cents (R$) recorded in 1Q12.
  oAfter approval of the Board of Directors in 1Q13, on May 10, Smiles S.A.
    established the offering's price at R$1,132,173,890.40, equivalent to
    52,173,912 common shares, representing 43% of its total capital. The
    shares of Smiles S.A. have been traded on BM&F Bovespa as of April 29,
    2013. The net proceeds of approximately R$1.1 billion will be used by
    Smiles S.A. excusively for the advance purchase of airline tickets from
    VRG, a Company subsidiary.
  oOnce again, GOL was the most punctual airline in the Brazilian market. The
    Company achieved a punctuality ratio of 95% (93% in 1Q12).

For further information visit www.voegol.com.br/ir

Conference calls - Tuesday - May 14, 2013

10:00 a.m. (Brazil)
9:00 a.m. (US ET)
Tel.: +55 (11) 4706-0951
Password: GOL

11:00 a.m. (Brazil)
10:00 a.m. (US ET)
Tel.: +55 (11) 4688-6361 (Brazil) or
+1 (786) 924-6977 (USA)
Password: GOL


Edmar Lopes - CFO
Andre Carvalho - Planning and IR Manager
Gustavo Mendes - Investor Relations
Jenifer Nicolini - Investor Relations
Phone: +55 (11) 2128-4700

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

Phone: +55 (11) 2128-4183
E-mail: comcorp@golnaweb.com.br
Twitter: @GOLcomunicacao


GOL, the largest low-cost and low-fare airline in Latin America, offers around
970 daily flights.

SOURCE GOL Linhas Aereas Inteligentes S.A.

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