GOL Increases Boeing 737-800 Next Generation Order to 161 Aircraft

SAO PAULO -- GOL Linhas Aereas Inteligentes S.A., the parent company of Brazil's low-cost airlines GOL Transportes Aereos S.A. and VRG Linhas Aereas S.A., announced today that it has exercised firm orders for 34 Boeing 737-800 NGs, completing the purchase option for 121 aircraft negotiated in October 2006, and has signed a new contract for the acquisition of 40 additional aircraft for delivery in 2012-2014.

"This new contract will further reduce GOL's costs and enable us to continue to modernize our fleet with new aircraft," says Fernando Rockert de Magalhaes, GOL's Technical Vice President. The agreement, which increases the number of aircraft on order from 121 to 161, is in line with GOL's policy of reducing operating costs by operating a standardized fleet.

The Boeing 737-800 NG, with its low operating costs, is a key part of GOL's strategy. Boeing developed the 737-800 SFP aircraft with short runway and take-off and landing capabilities per GOL's specifications.

The 737-800 is larger than the 737-700 and can carry up to 30 percent more passengers. "Increased seat capacity per aircraft not only reduces the costs of providing passenger transportation, but also improves our ability to distribute passengers within our large domestic and growing international flight networks," adds Rockert.

The Company also announced that it has accelerated its plans for modernization and renewal of the GOL and VRG fleets.

By the end of 2009, 50 percent of the narrow-body fleet will be comprised of 737-800SFP aircraft, reducing the average age of the combined narrow-body fleet to 5.5 years. At the end of 2012, over 75 percent of the narrow-body fleet will be comprised of 737-800 SFP aircraft, maintaining the average age of the combined narrow-body fleet at 5.5 years.