Corporate Reorganisation

Direct News Source

Corporate Reorganisation

GOL Linhas Aéreas Inteligentes S.A. (“GOL” or “Company”) (NYSE: GOL and B3: GOLL4), in compliance with §4 of Article 157 of Law No. 6404, dated December 15, 1976, as amended, and CVM Instruction No. 358/2002, hereby informs that, subsequent to the Material Facts disclosed on October 14, 2018 and December 16, 2018, following five months of studies and negotiations with the independent committee established by Smiles Fidelidade S.A. (“Smiles”) (B3: SMLS3), the parties have been unable to reach an agreement on terms for the proposed corporate reorganization. As a result, GOL and Smiles’ independent committee have decided to terminate negotiations.

GOL acknowledges the work and recognizes the efforts of the members of Smiles’ independent committee. GOL informs that the end of the discussions with Smiles’ independent committee does not change GOL's decision not to renew its operating agreement and the back office services agreement with Smiles beyond their current expiration date.

GOL’s operational and financial expectations are not affected by the termination of the negotiations and, therefore, remain unchanged, as none of the expected operational and financial benefits of the corporate reorganization was implemented in GOL’s business plan. GOL will continue to evaluate alternatives to improve the efficiency and competitiveness of its economic group.

This press release was sourced from GOL on 19-Jun-2019.