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registrant in connection with Rule 12g3-2(b):
GOL Completes US$310 mm Facility
for Pre-Delivery Payments on 21 Aircraft
São Paulo, October 15, 2007 - GOL Linhas Aéreas Inteligentes S.A. (NYSE: GOL and Bovespa: GOLL4), the parent company of Brazil’s low-cost airlines GOL Transportes Aéreos S.A. and VRG Linhas Aéreas S.A., announces that its subsidiary, GOL Transportes Aéreos S.A., has concluded a committed aircraft pre-delivery payment (“PDP”) loan facility in the amount of US$310 million for all 21 of its Boeing 737-800 Next Generation aircraft to be delivered in 2008 and 2009.
The facility, a clubbed financing which comprises eight banks, was led by Calyon and Citigroup. GOL Transportes Aéreos S.A. will take delivery of the first aircraft covered by the PDPs in July 2008, with five further aircraft delivered in 2008 and another 15 expected in 2009. Long-term financing will be provided by a combination of sale-leasebacks and long-term loans from financial institutions with support from the U.S Exim Bank.
“We appreciate the support of these world-class financial institutions as we improve the liquidity and cost of our balance sheet, while at the same time providing us with additional financial flexibility,” says Richard Lark, GOL’s Chief Financial Officer. “The 2008 and 2009 aircraft deliveries are an important part of the Company’s strategy to lower operating costs and better serve the demand for safe, high quality air transportation service in Brazil and South America.”
In October 2006, GOL increased the total number of aircraft on order with Boeing to 121 Next Generation 737-800 aircraft (87 firm orders and 34 options), making GOL’s order the largest contract between Boeing and a Latin American company. GOL worked closely with Boeing to develop the 737-800 SFP (Short Field Performance) with short runway take-off and landing capabilities. The new aircraft are equipped with winglets, which reduce fuel consumption by approximately 3 percent. In addition to lowering operating costs, winglets provide better flight performance, the ability to operate longer non-stop flights, and reduced noise during take-off. The 737-800 is also larger than the 737-700 and can carry up to 30 percent more passengers.
About GOL Linhas Aéreas Inteligentes S.A.
GOL Linhas Aéreas Inteligentes S.A. is the parent company of low-cost airlines GOL Transportes Aéreos S.A. (“GTA”, which operates the GOL brand) and VRG Linhas Aéreas S.A. (“VRG”, which operates the VARIG brand). GTA and VRG offer daily flights to more destinations in Brazil than any other domestic airline while providing customers with the most convenient flight schedules in the country. The airlines operate a young, modern fleet of Boeing aircraft, the safest and most comfortable aircraft of its class, with low maintenance, fuel and training costs, and high aircraft utilization and efficiency ratios. In addition to safe and reliable services, which stimulate brand recognition and customer satisfaction, the Company’s service is recognized as the best value proposition in the market. Growth plans include increasing frequencies in existing markets and adding service to additional markets in both Brazil and other high-traffic travel destinations. Shares are listed on the NYSE (GOL) and the Bovespa (GOLL4) stock exchanges.
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GOL Transportes Aéreos S.A. offers over 630 daily flights to 58 destinations connecting the most important cities in Brazil as well as the main destinations in Argentina, Bolivia, Chile, Paraguay, Peru and Uruguay. For more information on GOL flight times and fares, please access www.voegol.com.br or call: 0300-115-2121 in Brazil, 0810-266-3131 in Argentina, 800-1001-21 in Bolivia, 1 888 0042 0090 or 1230 020 9104 in Chile, 009 800 55 1 0007 in Paraguay, 0800 52 900 in Peru, 0004 055 127 in Uruguay and 55 11 2125-3200 in other countries.
VRG Linhas Aéreas S.A. offers over 120 daily flights to 14 destinations in Brazil: Belo Horizonte, Brasília, Curitiba, Fernando de Noronha, Florianópolis, Fortaleza, Manaus, Porto Alegre, Recife, Rio de Janeiro (Santos Dumont and Tom Jobim), Salvador and São Paulo (Congonhas and Guarulhos). VRG also offers 20 daily flights to six international destinations in South America and Europe: Buenos Aires, Bogotá and Caracas, in South America and Frankfurt, Paris and Rome, in Europe. For more information on VRG flight times and fares, please access www.varig.com.br or call: 4003-7000 in Brazil, 54 11 4329 9211 in Buenos Aires (Monday - Friday), 0810 32182744 in other areas of Argentina (Monday - Friday), or 54 11 5480 8017 9 in all areas of Argentina (Saturday - Sunday and Holidays), 57 1 350 7100 in Colombia, 44 207 660 0341 in England, 33 1 70 48 00 58 in France, 39 023 859 1250 in Italy, 34 91 754 7014 in Spain and 1 800 468 2744 or 1 800 GO VARIG in the USA and Canada.
CONTACT: GOL Linhas Aéreas Inteligentes S.A.
| Corporate Communications | Investor Relations | |
| Ph: (5511) 3169 6967 | Ph: (5511) 3169 6800 | |
| E-mail: comcorp@golnaweb.com.br | E-mail: ri@golnaweb.com.br | |
| Site: www.voegol.com.br/ir | ||
| Media – Brazil & Latin America | Media – U.S. & Europe | |
| MVL Comunicação; D. Barbará and A. | Edelman; G. Juncadella and M. Smith | |
| Michelacci | Ph: +1 (212) 704-4448 / 704-8196 | |
| Ph: (5511) 3049-0349 / 0341 | E-mail:gabriela.juncadella@edelman.com; | |
| E-mail: daniela.barbara@mvl.com.br; | meaghan.smith@edelman.com | |
| alexandre.michelacci@mvl.com.br | ||
This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of GOL. These are merely projections and, as such, are based exclusively on the expectations of GOL’s management concerning the future of the business and its continued access to capital to fund the Company’s business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors and risks disclosed in GOL’s filed disclosure documents and are, therefore, subject to change without prior notice.
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GOL LINHAS AÉREAS INTELIGENTES S.A. |
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By: |
/S/ Richard F. Lark, Jr.
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Name: Richard F. Lark, Jr.
Title: Executive Vice President – Finance, Chief Financial Officer |
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This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will a ctually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.