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GOL announces readjustment of the transfer price of airline tickets and miles by its Loyalty Program

Direct News Source

27-Dec-2017 GOL Linhas Aéreas Inteligentes S.A. ("GOL" or "Company"), (NYSE: GOL and B3: GOLL4), Brazil's #1 airline, informs its shareholders and the market in general that the readjustment of the transfer price was calculated as provided in the Miles and Airline Ticket Purchase Agreement ("Agreement") signed on December 28, 2012 between (i) GOL Linhas Aéreas Inteligentes S.A. ("GLAI"), controlling Shareholder of Smiles Fidelidade S.A. ("Smiles") and GOL Linhas Aéreas S.A. ("GLA"), (ii) GLA, provider, client and controlled by GLAI, and (iii) Smiles Fidelidade S.A., controlled by GLAI.

The readjustment will be as follows: (i) the price of standard airline tickets sold by GLA to Smiles will decrease by 0.6%; (ii) the price of miles sold to GLA by Smiles will decrease by 1.5%. The Smiles' Independent Committee and Board of Directors unanimously a pproved the mentioned adjustments that will come into effect as of January 1, 2018.