Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Gol Rallies on Bets Airlines Face Reduced Taxes: Sao Paulo Mover

Gol Linhas Aereas Inteligentes SA, Brazil’s second-biggest air carrier by market share, rallied on speculation the government will cut taxes for airlines.

The shares climbed 6.5 percent to 11.23 reais at the close in Sao Paulo, the biggest gain since Sept. 13. The advance was the best performance after OGX Petroleo e Gas Participacoes SA on the benchmark Ibovespa gauge, which added 1.3 percent.

Traders are betting the government will reduce levies on jet fuel and cut trim taxes that fund the Brazilian social security system, according to Sandro Fernandes, a trader at the brokerage firm Geraldo Correa. Sao Paulo-based Gol posted losses in seven of the past eight quarters.

“Rumors have been spreading for some days, but today’s rally may mean that an effective measure is about to be released,” Fernandes said in a telephone interview from Belo Horizonte, Brazil.

Gol has fallen 13 percent this year as the real tumbled in August to a 4 1/2-year low, driving up the cost of dollar-denominated expenses such as fuel, plane leases and debt payments. The currency has climbed 12 percent since Aug. 22, when the government announced a $60 billion intervention program to boost the real and curb import price increases.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.