Gol Linhas Aereas Inteligentes S.a. (GOL)

Gol Linhas Aereas Inteligentes SA, (NYSE:GOL), Brazil’s second-biggest airline, swung to a profit in the fourth quarter after one-time gains and an economic rebound that spurred travel, according to Business Week. Net income was 397.8 million reais ($225.5 million) in the three months ended December, compared with a restated 541.6 million reais loss a year earlier, Sao Paulo-based Gol said in a filing late yesterday.
Profit included one-time gains from foreign exchange and tax credits, Chief Executive Officer Constantino de Oliveira Jr. said on a conference call. Air travel rebounded as Latin America’s biggest economy expanded 2 percent in the quarter from the previous three months, the fastest pace in two years.

Mar 12 · 2:07:00 PM · Source: Business Week
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by Steve Wieczorek