Gol reported first-quarter net income of BRL23.9 million ($13.2 million), down 61.1% from a BRL61.4 million profit in the year-ago period, and noted that the result was affected negatively by "exchange variation expenses" totaling BRL59 million related to an average 3.5% appreciation of the dollar versus the real, as well as tax and interest charges. The Brazilian carrier said its continued emphasis on organizing its network around short-haul South American flights using an ...

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