Gol reported a first-quarter net loss of BRL3.5 million ($2.1 million), reversed from a profit of BRL116.6 million in the year-ago period, as last year's acquisition of Varig and its subsequent integration with Gol weighed heavily and led to sinking load factors. The company noted that it is reorganizing the renamed VRG's loss-making international network, dropping service to Frankfurt, London and Rome in March and planning to end Madrid and Mexico City flights during the current quarter. ...

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