In Brazil, While Varig Withers Gol Grows

Brazilian airline Gol posted a 28.1% growth in the number of passengers transported between January and August this year in comparison to the same period last year.

In the month of August the increase in passengers was 63,762 when compared to the same month last year. In August, a total of 491,211 passengers travelled on company aircraft.


Gol is the only Brazilian company operating in the low cost sector. It started operating in January 2001. In the beginning, the company had six aircraft. Gol currently operates 23 aeroplanes and has daily flights to 31 destinations in Brazil.

Brazil’s Gol Airline should begin operating flights between Buenos Aires, capital of Argentina, and major Brazilian cities in the fourth quarter of 2004. It will be the company’s first international route. 

According to information given by Gol’s spokesperson, flights to Argentina will follow the same model of those offered by the company for domestic flights, in other words, the flights will continue to be low-cost, low-fee.

Presently, Gol offers 230 daily flights, flies to 27 Brazilian cities and makes use of 22 airplanes. Eighteen of these are Boeing 737-700s, and four are 737-800s.

Gol was the first major Brazilian airline to partake of the low cost and low fee model, which it has implemented since the beginning of its operations in January of 2001.

This approach has had positive results, while other more traditional airlines like Varig and Vasp have been experiencing financial loss. Last year, Gol’s revenues were US$ 462.9 million, with a net profit of US$ 37.36 million.

Recently, Gol went public and its shares are now being negotiated on the New York stock exchange as well as Bovespa, in São Paulo, Brazil’s financial center.

In July, the airline was elected “2004 Company of the Year” by Exame magazine, one of the most highly regarded Brazilian business and economy periodicals.

ANBA ”“ Brazil-Arab News Agency

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