GOL Announces 2Q13 Results

                          GOL Announces 2Q13 Results

Operating Margin Increases by 18 p.p. in 2Q13 Year over Year

PR Newswire

SAO PAULO, Aug. 13, 2013

SAO PAULO, Aug. 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 second quarter of 2013 (2Q13).

Highlights

  oGOL recorded an operating loss (EBIT) of R$35 million in 2Q13 resulting in
    a negative margin of 1.8%, an improvement of R$320 million and 18
    percentage points over 2Q12. In the first half, GOL recorded a positive
    operating margin of 1.7%,  in line with the margin projected for 2013, of
    between 1% and 3%.
  oPRASK (passenger revenue per available seat-kilometer) totaled R$14.14
    cents in 2Q13, 10.5% up on 2Q12. This performance fueled the 7.5%
    year-over-year upturn in RASK (operating revenue per available
    seat-kilometer), which came to R$15.72 cents in 2Q13. The continuous
    monthly increase in PRASK since April 2012 reflects the Company's efforts
    in optimizing its offer and maximizing the profitability of its routes.
  oCASK (operating cost per available seat-kilometer) totaled R$16.01 cents
    in the second quarter, 8.4% down on the same period last year. Fuel costs
    per ASK fell by 8.8%, primarily due to the 3.4% decline in the per-liter
    fuel price and the use of a more fuel-efficient fleet. CASK ex-fuel fell
    by 8% in the same period, chiefly impacted by the reduction in personnel
    costs. 
  oSMILES' IPO during the quarter meant that the Company ended 2Q13 with its
    biggest ever quarterly cash position (cash, cash equivalents, financial
    investments and short and long-term restricted cash), totaling R$2.8
    billion, equivalent to34% of net revenue of the last 12 months (LTM).

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

CONTACTS

INVESTOR RELATIONS
Phone: +55 (11) 2128-4700
E-mail: ri@golnaweb.com.br
Website: www.voegol.com.br/ir
Twitter: www.twitter.com/GOLinvest

CORPORATE COMMUNICATIONS
Phone: +55 (11) 2128-4183
E-mail: comcorp@golnaweb.com.br
Twitter: www.twitter.com/VoeGOLoficial
Blog: http://blog.voegol.com.br

ABOUT GOL LINHAS AEREAS INTELIGENTES S.A.

GOL Linhas Aereas Inteligentes S.A. (BM&FBOVESPA: GOLL4 and NYSE: GOL), the
largest low-cost and low-fare airline in Latin America, offers around 970
daily flights to 65 destinations in 10 countries in South America, Caribbean
and the United States under the GOL and VARIG brands.

SOURCE GOL Linhas Aereas Inteligentes S.A.

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