Gol, which operates the LCC of the same name as well as the recently acquired Varig, issued updated second-quarter and full-year guidance this week that reflects the difficulty of integrating the floundering flag carrier. For the full year, Gol reduced its earnings per share projection to BRL3.70-BRL4.20 ($1.94-$2.20) from the original forecast of BRL4.20-BRL4.70 and its operating margin guidance to approximately 18% from 20%. Revenues should be BRL6 billion rather than BRL6.1 billion but ...

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