Gol reported net income of BRL890.8 million ($504.2 million) for 2009, reversed from a BRL1.2 billion deficit in 2008, attributing its profitability to "synergies" created by the merger of Gol's and Varig's operations at the end of 2008 and its transformation into an efficient 737NG operator organized around a short-haul South American network that it believes appeals to Brazil's growing middle class. Its international capacity lowered by 17.7% in the 2009 fourth quarter compared to the ...

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