Brazilian Airline Gol Gets Prize and US$ 50 Million Loan

Brazilian leading business magazine Exame has awarded Gol Airlines with its Melhores e Maiores 2006 (Best and Largest 2006) prize in the transportation sector.

This award is given to Brazilian companies every year. In 2004, Gol had received the same award, and, additionally, was named Company of the Year by Exame.

"Receiving the Exame award one more time make us proud. It is the recognition of our work to make air transport accessible to more and more people in Brazil and in South America as well. This award – that I share with our employees and clients – confirms our successful journey, marked by operational efficiency, lean structure, agility, simplicity, technology and low costs," says Constantino de Oliveira Junior, president of Gol.

Technical consultants and the magazine staff considered six performance figures before appointing Gol as the best among 35 transportation companies: sales growth, fixed assets investment, market leadership, current liquidity, return on assets and wealth produced per employee.

US$ 50 Million Loan

Gol has announced that its subsidiary Gol Transportes Aéreos S.A. has entered into an agreement for a US$ 50 million long-term financing from the International Finance Corporation (IFC), the private sector arm of the World Bank Group.

The IFC financing will support Gol’s investment in aircraft spare parts inventory and working capital requirements to meet the needs of its growing fleet.

This financing demonstrates IFC’s commitment to provide long-term and stable funding diversification to Brazilian companies.

"IFC’s partnership with Gol is a good example of our strategy in South America to support local businesses and help them expand their businesses nationally and regionally.

"In its brief history, Gol has made a significant contribution to the growth, connectivity and efficiency of the Brazilian airline sector, which has resulted in substantial benefits for its customers and the Brazilian economy," said Francisco Tourreilles, director of IFC’s infrastructure department.

"Gol is investing in an area critical to Brazil’s further economic development. The investment fits IFC’s strategy to encourage private sector investment in infrastructure as a means to stimulate economic growth in Brazil," stated Saran Kebet-Koulibaly, IFC’s Associate Director for Latin America and the Caribbean, and Country Manager for Brazil.

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