São Paulo, April 5, 2018 - GOL Linhas Aéreas Inteligentes S.A. (NYSE: GOL and B3: GOLL4), Brazil's #1 airline, provides its Investor Update. The information below for the quarter ended in March 2018 is preliminary and unaudited.

Overall Commentary

• GOL expects an operating margin for the quarter ended in March of 15.0%-15.5%, an increase of approximately 5.5 p.p. over the quarter ended in March 2017 (9.6%).
• Passenger unit revenue (PRASK)1 for the first quarter is expected to be up 10.5%-11.0% year over year, as GOL’s capacity discipline and revenue management strategies continue to benefit results. For the quarter ended in March, GOL expects unit revenue (RASK) to increase 9.2%-9.7%.
• Non-fuel unit costs (CASK ex-fuel), are expected to reduce by approximately 3.5% in relation to the first quarter 2017.
• GOL expects to reduce its financial leverage, as measured by the Net Debt2/LTM EBITDA ratio, to approximately 2.8x at the end of the March 2018 quarter.