A turbulent year for Brazilian commercial aviation and the acquisition of floundering flag carrier Varig hit hard at Gol's bottom line as the LCC's Gol Linhas Aereas Inteligentes parent reported an 82% plunge in full-year profit to BRL102.5 million ($58.6 million) from the BRL569.1 million earned in 2006, plus an operating loss. The company attempted to put a positive spin on the result, calling 2007 "a year of strategic investment and growth," adding, "The fact that [Varig] was acquired ...

Subscribe to Access this Entire Article

"Gol still profitable despite Varig acquisition, industry upheaval" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.