GOL Linhas (GOL) to Take R$140M non-Recurring Charge in Q4 Related to Webjet

February 4, 2013 5:20 PM EST
Get Alerts GOL Hot Sheet
Price: $17.60 --0%

Today's EPS Names:
Trade GOL Now!
Join SI Premium – FREE
GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL) hereby informs its shareholders and the market in general that on February 1, 2013, the Annual Debenture Holders' Meeting deliberated on the waiver of debenture holders in relation to non-compliance with restrictive contractual clauses, particularly financial indices and limits, in relation to the 4th and 5th issue of debentures issued by VRG Linhas Aereas S.A. ("VRG"), a subsidiary of the Company.

In addition to the material fact of November 23, 2012, which dealt with the initial winding up of its subsidiary Webjet, the Company announces that there was a non-recurring impact of approximately R$140 million of costs and provisions on 4Q12 results. The estimated impacted, resulted from the winding up procedures, mainly refer to personnel costs and provisions for the return and maintenance of Webjet's Boeing 737-300 aircraft. These measures should make the Company more efficient in terms of fuel consumption and passenger comfort.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Guidance

Add Your Comment