São Paulo, January 10, 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 December 2017 is preliminary and unaudited.

Overall Commentary

• GOL expects an operating margin for the quarter ended in December of 13.2%-14.2%, an increase of approximately 1.0 p.p. over the quarter ended in December 2016 (12.8%), excluding non-recurring expenses.
• Passenger unit revenue (PRASK) for the fourth quarter are expected to be up 7.0%-7.5% year over year, as GOL’s capacity discipline and revenue management strategies continue to benefit results. For the quarter ended in December, GOL expects unit revenue (RASK) to increase 7.0%-7.5%.
• Non-fuel unit costs (CASK ex-fuel), excluding non-recurring expenses, are expected to increase by approximately 1.0% in relation to the third quarter 2017, and are expected to increase approximately 1.6% versus same quarter of the prior year.
• GOL reduced its financial leverage, as measured by the Net Debt1/LTM EBITDA ratio, to approximately 3.0x at the end of the December 2017 quarter.