Gol receives some recognition for its prolonged restructuring. Now the goal is profitability

Large Brazilian airline Gol is gaining some attention for the restructuring it has undertaken during the past three years as market conditions in its home country deteriorated driven by a weakening economy.

Despite a still tenuous economic environment Gol has worked to improve its financial situation through capacity reduction, the restructuring of debt, network changes and a heightened focus on the corporate customer.

The results are improved leverage, a shrinking of losses and increases in its margins. Gol is refraining from declaring any definitive targets of when it will return to profitability, but believes it could be on a clear path to positive net income by YE2015 as it braces for continued higher fuel costs and currency devaluation.