Latin America's first low-cost carrier is about to introduce Argentina to the flair and cheap fares that have made it such a sensation in Brazil, and hopes to gain routes to other South American countries.
Gol plans to launch daily flights between five Brazilian cities and Buenos Aires in the fourth quarter of this year, using the same low-cost model that has worked so well in the domestic market. Gol has also applied for routes to Chile and awaits a decision from Brasilia on whether, as part of Varig's restructuring, to reallocate some of its international routes to TAM and Gol.
Since its 2001 launch, Gol has become Brazil's third-largest carrier with 22% of the domestic market and a network of 29 cities served by 22 Next Generation Boeing 737s. More are on order. It has been profitable every year after its first, with a net margin last year of 12.5%. In June it raised $280 million through an initial public offering in Brazil and New York.
Source: Airline Business
