SAO PAULO, Brazil, April 4 /PRNewswire-FirstCall/ -- GOL Linhas Aereas Inteligentes Brazil's low-cost, low-fare airline, yesterday received approval from the National Civil Aviation Agency (ANAC) to complete the transfer of VRG to GTI S.A., a wholly owned subsidiary of GOL Linhas Aereas Inteligentes. With this authorization, GOL will begin executing the plan developed for VRG, which will operate with its own brand (VARIG) and differentiated services, while incorporating the low-cost business model from GOL Transportes Aereos S.A.
"Anac's authorization allows us to move forward with the acquisition of VRG and the implementation of our efficient low-cost, low-fare model," says GOL's Chief Executive Officer, Constantino de Oliveira Junior. "VARIG will incorporate modern concepts of efficient administration and reduce operating costs to become a competitive company, which we believe will benefit the customer."
About GOL Linhas Aereas Inteligentes
GOL Linhas Aereas Inteligentes is one of the most profitable and fastest growing low-cost, low-fare airlines in the industry worldwide. GOL provides frequent service on routes connecting all of Brazil's major cities as well as primary destinations in Argentina, Bolivia, Chile, Paraguay, Peru and Uruguay through its more than 630 daily flights to 57 major airports. GOL offers daily flights to more destinations in Brazil than any other domestic airline while providing customers with the most convenient flight schedules in the country. GOL operates a young, modern fleet of Boeing 737s, the safest and most comfortable aircraft of its class, with low maintenance, fuel and training costs, and high aircraft utilization and efficiency ratios. In addition to safe and reliable service, which stimulates GOL's brand recognition and customer satisfaction, the Company's single class of service is recognized as the best value proposition in the market.
CONTACT: GOL Linhas Aereas Inteligentes S.A.
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