São Paulo-based low-cost carrier GOL reported a BRL232.7 million ($74.4 million) net profit for the first quarter of 2017, down 69.3% from BRL 242.1 million in 1Q 2016. GOL continued to rationalize operations during the Brazilian summer to meet reduced passenger traffic, which was down 739,000 passengers compared to 1Q 2016. The airline reduced the number of seats available for sale by 13% during the quarter. GOL’s operating revenues declined 2.5% year-over-year (YOY) to ...

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