INSUBCONTINENT EXCLUSIVE:
The company reported a net loss of R$176 million ($29 million), down from R$338 million ($55 million) in October.This 48% reduction occurred
while Gol navigated Chapter 11 bankruptcy protection
increased to R$1.7 billion ($0.27 billion), up from R$1.6 billion ($0.26 billion) in October
5% depreciation of the Brazilian real, highlighting the currency risks in the airline industry
Gol recently struck a deal with Brazilian tax authorities to address R$5.5 billion ($0.89 billion) in liabilities.Brazilian Airline Gol Cuts
Losses by 48% Amid Bankruptcy Restructuring
(Photo Internet reproduction)This agreement allows for installment payments and discounts on fines and interest
They cited seasonal factors and increased occupancy rates as drivers of the better results.As Gol works to emerge from bankruptcy, its
performance in the coming months will be crucial
