PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
Jd. Aeroporto
04630-000 São Paulo, São Paulo
Federative Republic of Brazil
annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form 40-F ______
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act of 1934.
Yes ______ No ___X___
registrant in connection with Rule 12g3-2(b):
üGrowth of 25.2% in the number of miles accumulated excluding GOL compared to 2Q13;
üIncreased redemption in international airlines partners, reaching 1.2 billion miles, 16.7% of total redemptions;
üGross margin of 46.9%, in line with 1Q14;
üNet income of R$64.1 million, with a net margin of 42.1% in 2Q14;
üIssue of R$600.0 million in debentures priced at 115% of the CDI rate;
üConclusion of the capital reduction process (R$8.17 per share).
| Highlights | 2Q14 | 2Q13 | % Change | YTD 14 | YTD 13 | % Change |
| Net YIELD (cent. R$) | 24.40 | 20.88 | 16.9% | 24.16 | 21.94 | 10.1% |
| Net PRASK (cent. R$) | 18.35 | 14.14 | 29.7% | 18.29 | 14.81 | 23.5% |
| Net RASK (cent. R$) | 20.50 | 15.72 | 30.4% | 20.19 | 16.31 | 23.8% |
| CASK (cent. R$) | 20.16 | 16.01 | 25.9% | 19.43 | 16.04 | 21.1% |
| CASK ex-fuel (cent. R$) | 12.35 | 9.3 | 32.8% | 11.48 | 9.00 | 27.6% |
| Net Revenue | 2,381 | 1,915 | 24.4% | 4,875 | 3,998 | 21.9% |
| Operating Costs and Expenses | -2,342 | -1,950 | 20.1% | -4,691 | -3,931 | 19.3% |
| Operating Profit (EBIT) | 38 | -35 | NM | 182 | 66 | 175.8% |
| Operating Margin (EBIT) | 1.6% | -1.8% | 3.4 p.p | 3.7% | 1.7% | 2.0 p.p |
| Others Revenues and Expenses | -106 | -425 | 75.1% | -299 | -532 | 43.7% |
| Income (loss) before Tax | -68 | -460 | 85.3% | -117 | -466 | 74.8% |
| Income Tax | -77 | 27 | NM | -124 | -42 | 192.1% |
| Net Profit (Loss) | -145 | -433 | 66.5% | -241 | -508 | 52.6% |
| Net Margin | -6.1% | -22.6% | 16.5 p.p | -4.9% | -12.7% | 7.8 p.p |
| EBITDA | 162 | 81 | 99.8% | 442 | 293 | 50.7% |
| EBITDA Margin | 6.8% | 4.2% | 2.6 p.p | 9.1% | 7.3% | 1.7 p.p |
| EBITDAR | 375 | 235 | 59.6% | 868 | 602 | 44.2% |
| EBITDAR Margin | 15.8% | 12.3% | 3.5 p.p | 17.8% | 15.1% | 2.8 p.p |
| Average Exchange Rate | 2.2296 | 2.0673 | 7.9% | 2.2974 | 2.0333 | 13.0% |
| End of period Exchange Rate | 2.2025 | 2.2156 | -0.6% | 2.2025 | 2.2156 | -0.6% |
| Price per liter Fuel | 2.50 | 2.21 | 13.1% | 2.56 | 2.32 | 10.3% |
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GOL LINHAS AÉREAS INTELIGENTES S.A. | ||
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By: |
/S/ Edmar Prado Lopes Neto | |
|
Name: Edmar Prado Lopes Neto
Title: Investor Relations Officer | ||
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.