About these ads

Category Archives: VARIG (2nd)

Gol sinks to the red in the first quarter

GOL Linhas Aéreas Inteligentes S.A. (the parent of Gol Transportes Aereos and VARIG 2nd-VRG Linhas Aereas) (Sao Paulo) reported a first quarter net loss $21.5 million (R 41.4 million) versus a net profit of $69.4 million (R 36.1 million) in the same quarter a year ago.

Read the full report: CLICK HERE

Copyright Photo: Marcelo F. De Biasi.

Gol Slide Show: CLICK HERE

About these ads

Delta Air Lines buys into Gol

Delta Air Lines (Atlanta) has acquired a minority share in Gol Linhas Aéreas Inteligentes S.A., the parent of Gol Transportes Aereos and VARIG (2nd).

Gol issued the following statement:

“Gol Linhas Aéreas Inteligentes S.A., the largest low-cost and low- fare airline in Latin America, in compliance with CVM Instruction 358/2002 (“CVM Instruction 358″), hereby informs its shareholders and the market in general that it signed a binding agreement involving the acquisition by the U.S. company, Delta Air Lines, Inc. of a strategic minority interest of US$100 million of GOL ́s preferred shares.

About the Investment:

Delta Airlines Inc. will invest US$100 million in exchange for ADSs representing Gol’s preferred shares through the issuance of preferred share with an issue price of R$22.0 per share. The total capital increase will be up to R$280 million (US$150 million), including the subscription rights for all Gol ́s shareholders. Gol’s Board will deliberate on December 21, 2011 to resolve on the capital increase.
In the context of the investment, Gol’s controlling shareholder agreed to elect a Delta representative to the Company’s Board of Directors as long as Delta holds at least 50% of the ADSs acquired in the investment, among other conditions. Delta agreed, for a period of 12 months, not to sell the acquired ADSs (lockup) and not to acquire any further Gol shares , including in the form of ADSs (standstill), without Gol’s consent.

Brazilian law limits the maximum number of preferred shares that can be issued by Gol to 50% of the Company’s total capital. As a result, Delta’s investment is structured as follows:

1.Gol’s controlling shareholder will sell ADSs representing Gol ́s preferred shares to Delta against payment of US$100 million. At the same time, Gol’s controlling shareholder will undertake to reinvest this amount in a capital increase to be simultaneously approved by the Company; and

2. The amount of the capital increase will be up to R$280 million, equivalent to the issuance of preferred share with an issue price of R$22.0 per share given that the amount of capital increase to be subscribed by the controlling shareholder, according to its pre-emptive rights, is an amount of US$100 equivalent in dollar, less taxes and other charges incurred by the controlling shareholder in the context of the transfer of the ADSs to Delta . GOL’s controlling shareholder will use the proceeds from the sale of the ADSs to Delta to subscribe the Company’s shares issued on the capital increase.

The controlling shareholder will not receive any economic benefit from the transaction. Pre- emptive rights in regard to the capital increase will be granted to all Gol shareholder, including ADSs holders. More detailed information on the capital increase, including the issued price for the preferred shares and ADSs, the terms and mechanisms for the exercise of pre-emptive rights, and the record date will be disclosed promptly after the Gol Board of Directors’ Meeting to be held on December 21, 2011.”

Copyright Photo: Nick Dean.

Gol Slide Show: CLICK HERE

Gol has a rare quarterly loss for the third quarter

GOL Linhas Aéreas Inteligentes S.A. (Sao Paulo), the parent of Gol Transportes Aereos and VARIG (2nd) (VRG Linhas Aereas), reported a rare quarterly loss. For the third quarter, the company posted a net loss of R$516.5mm ($293 million) with a negative net margin of 28.0%, versus net income of R$110.0mm in 3Q10 (with a margin of 6.1%) and a net loss of R$358.7mm in 2Q11 (with a negative net margin of 22.9%). The loss was mainly due to the appreciation of the Dollar, which increased from R$1.56 at the end of 2Q11 to R$1.85 at the end of 3Q11 (an 18.8% upturn). The depreciation of the Brazilian currency generated a net expense from the foreign exchange variation of approximately R$476.4mm, as most of the Company‟s financial liabilities are represented in Dollars (72.4% in 3Q11).

Copyright Photo: Marcelo F. De Biasi. Please click on the photo for additional information.

Gol Slide Show: CLICK HERE

Gol’s second quarter loss widens to $221 million

Gol Linhas Aereas Inteligentes S. A. (Gol and VARIG) (Sao Paulo) posted a wider second-quarter loss as fuel costs surged and sales dropped.

The net loss expanded to 358.7 million reais ($221 million) in the second quarter ending on June 30, from 51.9 million reais a year earlier.

Read the full report from Bloomberg Businessweek: CLICK HERE

Gol Slide Show: CLICK HERE

Copyright Photo: Marcelo F. De Biasi. Please click on the photo for the full story of the 10th Anniversary logojet.

Gol announces VARIG will acquire Webjet

Gol Linhas Aéreas Inteligentes S.A., the holding company of Gol Transportes Aereas and VARIG Linhas Aereas (2nd), initially informed its shareholders and the market in general that it was under discussions with Webjet Linhas Aéreas S.A.

Later the holding company announced the following:

“VRG Linhas Aereas S.A. (VARIG 2nd), its affiliated Company, executed a memorandum of understanding (MOU) with the controlling shareholders of Webjet Linhas Aereas S.A., (“WebJet”), for the acquisition of 100% of WebJet’s capital stock by VRG;

The acquisition is subject to among other conditions, the conclusion of  technical and legal due diligence of WebJet’s activities and assets,  the negotiation and execution of definitive documents by the parties and the approval from the relevant government authorities;

The price to be paid for the referred acquisition shall be R$96,000,000.00 (ninety six million Reais), subject to certain adjustments prior to the closing date. WebJet’s enterprise value was appraised by the parties atR$310,700,000.00 (three hundred and ten million and seven hundred thousand Reais).”

Webjet Slide Show: CLICK HERE

Copyright Photo: Christian Volpati. Please click on the photo for full information on Webjet.

Webjet’s routes from Sao Paulo:

Gol reports a profit of $19.9 million in the first quarter

Gol Linhas Aéreas Inteligentes S.A. (parent company of Gol Transportes Aereos and VARIG Linhas Areas 2nd) (Sao Paulo) reported a net profit of $19.9 million in the first quarter.

Copyright Photo: Nick Dean. Please click on the photo for additional information.

Gol’s profit drops in the fourth quarter and 2010

GOL Linhas Aéreas Inteligentes S.A. (parent company of Gol Transportes Aereos and VARIG Linhas Areas 2nd) (Sao Paulo) reported a net profit of $129 million in the fourth quarter and $128.3 million for 2010.

Read the full report from Gol: CLICK HERE

Copyright Photo: AirSpeed. Please click on the photo for this special color scheme.

Gol’s third quarter profit rises 41% to $64 million

Gol Aereos Inteligentes (Sao Paulo), the parent of Gol Transportes Aereos and VARIG (VRG Linhas Aereas) (2nd), reported its third quarter profit rose 41 percent to $64 million.

Copyright Photo: AirSpeed. Please click on the photo for additional details.

VARIG to fly to St. Maarten

GOL Linhas Aereas Inteligentes (Sao Paulo) will begin flying to Saint Maarten (Netherlands Antilles) in the Caribbean as of June 12. These flights, initially under the charter system, will take place on Saturdays under the VARIG brand, although the company has already applied for authorization from the authorities to operate regular flights.

The flights will leave Sao Paulo International Airport/Guarulhos at 2:48 p.m. (1448) on Saturdays, with a stopover in Manaus, from where they will depart for Saint Maarten at 6:10 p.m. (1810), arriving at 9:30 p.m. (2130). The return flight will depart from Saint Maarten at 11:30 p.m. (2330), arriving in Manaus at 2:50 a.m. (0250) and in Guarulhos at 8:35 a.m. (0835) on Sundays.

Copyright Photo: Marcelo F. De Biasi. VARIG’s Boeing 737-76N PR-VBU (msn 29905) arrives back at Sao Paulo (Guarulhos).

GOL announces IATA membership

GOL Linhas Aereas Inteligentes S.A. (Sao Paulo), the parent of GOL Transportes Aereas and VARIG (2nd) (VRG Linhas Aereas), announced yesterday (June 2) that it has joined the International Air Transport Association (IATA) as an active meber. IATA is an international trade body, representing approximately 230 airlines, comprising 93% of scheduled international air traffic.

Copyright Photo: Marcelo F. De Biasi. VARIG’s Boeing 737-8AS PR-VBA (msn 29916) climbs away from the Sao Paulo (Guarulhos) base.

VARIG to fly to Barbados

GOL Linhas Aereas Inteligentes S.A. (NYSE:GOL – News), the parent of both Gol Transportes Aereos and VARIG (2nd) (VRG Linhas Aereas), has received approval to start regular flights between Brazil and Barbados, in the Caribbean. Flights will begin on June 26 and will take place once a week, on Saturdays, under the VARIG brand.

The new flight will leave Sao Paulo International Airport/Guarulhos at 4:35 p.m. (local time) (1635) on Saturdays, arriving in Bridgetown, Barbados, at 9:15 p.m. (local time) (2115). The return flight will leave Bridgetown at 10:00 p.m. (local time) (2200), arriving in Brazil at 4:35 a.m. (local time) (0435) on Sundays.

Copyright Photo: Marcelo F. De Biasi. VARIG’s (2nd) Boeing 737-76N PR-VBU (msn 29905) arrives back at Sao Paulo (Guarulhos).

Delta and Gol/VARIG file to begin code-sharing

Delta Air Lines (Atlanta) and Gol Linhas Aereas Inteligentes (Sao Paulo), parent of both Gol Transportes Aereas and VARIG (2nd), have filed a request for authorization to implement a code-share agreement with Brazilian and U.S. authorities.

The code-share will initially allow Delta to assign its code to more than 45 Gol/VARIG flights departing from Brasilia, Rio de Janeiro and Sao Paulo to other Brazilian destinations, as well as two Gol flights between Brazil and Paraguay and Uruguay.

VARIG to start weekly flights to Punta Cana

Please click on the AG icon for a direct link to the VARIG (2nd) photo gallery.

VARIG (2nd) (VRG Linhas Aereas) (Sao Paulo) on Saturdays will operate a new scheduled route from Rio de Janeiro and Sao Paulo to Punta Cana (Dominican Republic) via Caracas. The flights will be flown by Boeing 737-800 Next Generation aircraft starting on April 3 under the VARIG brand.

VARIG to add Aruba on October 4

Copyright Photo: Marcelo F. De Biasi.  Please click on photo for more photos.

Copyright Photo: Marcelo F. De Biasi. Please click on photo for more photos.

VARIG (2nd) (VRG Linhas Aereas) (subsidiary of Gol Linhas Aereas Inteligentes) (Sao Paulo) will add Aruba and the Sao Paulo (Guarulhos)-Aruba route via Caracas each Sunday effective October 4. The new route will be flown with Boeing 737-800s.

Press release:

finance.yahoo.com/news/GOL-Announces-Scheduled-prnews-2663657487.html?x=0&.v=101

Gol reports 2Q profit, reschedules 20 737NGs

Gol Linhas Inteligentes (Gol Transportes Aereos and VARIG (2nd)-VRG Linhas Aereas) (Sao Paulo) reported a second quarter profit of $192 million. The company has also reached agreement with Boeing to reschedule 20 737NG aircraft from 2010-2012 to 2010-2014. The last 737-300s will still be retired later this year.

Press release:

finance.yahoo.com/news/GOL-Announces-Net-Income-of-prnews-1919531964.html?x=0&.v=1

American and Gol move closer together

American Airlines (Dallas/Fort Worth) and Gol Linhas Aereas (Gol Transportes Aereos and VARIG (2nd)-VRG Linhas Aereas) (Sao Paulo) are moving closer together with new codeshare and frequent flyer agreements.

Press release details:

finance.yahoo.com/news/GOL-and-American-Airlines-prnews-3174868784.html?x=0&.v=92

VARIG and Gol retire the last Boeing 737-300

 

Please click on photo for full view and caption.

Please click on photo for full view and caption.

Follow

Get every new post delivered to your Inbox.

Join 2,196 other followers

%d bloggers like this: