GOL Records Operating Margin of 3.0% in 2013, 14.2 Percentage Points up on 2012

  GOL Records Operating Margin of 3.0% in 2013, 14.2 Percentage Points up on                                      2012  PR Newswire  SAO PAULO, March 26, 2014  SAO PAULO, March 26, 2014 /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 today its results for the fourth quarter and full year of 2013.  Highlights    oThe fourth-quarter operating profit  (EBIT) came to R$162.9 million, with     an operating margin of 6%, representing the Company's highest level of     operational profitability in the last 10 quarters. In the full year of     2013, EBIT totaled R$266.0 million with an operating margin of 3%, a 14.2     p.p. improvement over 2012.   oNet revenue totaled R$2,728.2 million in 4Q13, 29%, or R$609 million, up     on 4Q12, fueled by the 19% upturn in yields and the 5.1 percentage points     increase in the total load factor, which came to 74.8%. Annual net revenue     reached the highest historical level for the Company, R$8,956.2 million,     R$853 million, or 11%, up on 2012.   oGOL reduced its annual operating costs by R$319 million, underlining its     commitment to adjusting its cost structure to a challenging macroeconomic     scenario.  Despite the 11% depreciation of the Real against the average     Dollar, record jet fuel prices, and the 7.4% decline in domestic supply,     CASK increased by just 0.9% in the quarter and 0.7% in the year.   oGOL recorded a net loss of R$19.3 million in 4Q13, an improvement of R$428     million compared to 4Q12, leading to  an annual net loss of R$724.6     million. Part of this result was due to the foreign exchange variation,     which generated an expense of R$490 million in 2013.   oGOL's cash position closed the year at a historical record R$3 billion,     corresponding to 34% of annual net revenue.  Conference Calls - March 26, 2014  Portuguese 09:30 a.m. (US ET) Phone: +55 (11) 2188-0155 Code: GOL  English 11:00 a.m. (US ET) Phone: +1 (412) 317-6776 Code: GOL  For further information visit www.voegol.com.br/ir  CONTACTS INVESTOR RELATIONS Phone: +55 (11) 2128-4700 E-mail: ri@golnaweb.com.br  CORPORATE COMMUNICATIONS Phone: +55 (11) 2128-4183 E-mail: comcorp@golnaweb.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.  SOURCE GOL Linhas Aéreas Inteligentes S.A.  Website: http://www.voegol.com.br/ir  
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