São Paulo-based LCC GOL reported a BRL220.8 million ($66.8 million) net profit for the first quarter of 2018, down 6% from BRL234.9 million in 1Q 2017. The airline recorded BRL65.6 million in income tax payments for the quarter, contrasted with a BRL79.1 million income tax benefit the airline received in the year-ago March quarter. BRL16.3 million of the payment was deferred income tax. However, a strong 14.4% boost in revenue (to BRL3 billion)—driven by increased demand ...

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