Missing the GOL: Yet another difficult and disappointing quarter
South America’s LCC champion continues to struggle to capture its former glory. GOL Linhas Aéreas Inteligentes, the parent company of Brazilian airlines GOL Transportes Aéreos (GOL) and VRG Linhas Aéreas (VRG), reported a USD106.0 million consolidated net loss in the three months ended 30-Jun-08, a significant increase from the USD21.9 million net loss reported in the previous corresponding period. The result was the third straight quarterly loss by the airline, whose results were dragged down by the prolonged and problematic VRG integration processes.
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