São Paulo-based low-cost carrier GOL reported BRL757.1 million ($208.4 million) first-quarter 2016 net profit, reversing its 1Q 2015 BRL672.7 million net loss. However, in its quarterly results release GOL noted an appreciation of the Brazilian real against the US dollar of BRL$653.5 million. Excluding the exchange rate variations and a non-recurring event (BRL212.6 million in profit for the return of sub-leased aircraft and on sale-leaseback transactions), GOL reported a 1Q ...

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