GOL Linhas Aéreas Inteligentes S.A. ("GOL" or "Company"), (NYSE: GOL and B3: GOLL4), Brazil's #1 airline, reviews its financial outlook for 2018 and 2019 and provides a preliminary outlook for 2020. Guidance is adjusted to reflect demand forecasts, competitor capacity movements, recent variations in oil prices, the appreciation of the USD versus the BRL, results of the acceleration of 737 MAX aircraft into the GOL fleet and preliminary estimates of IFRS16 adoption.

The Company's guidance highlights key metrics which impact financial results and drive long-term shareholder value. GOL provides forward-looking information that is focused on the main metrics the Company uses to measure business performance. These indicators are useful for investors and analysts who project GOL's results. The Company is providing preliminary financial projections adjusted for the impact of the adoption of IFRS 16, providing users with greater transparency in relation to its expected impacts, as well as allowing a better comparability between the projections presented.


(1) Considers adoption of IFRS 16;
(2) Net revenue of cargo, loyalty, buy-on-board and other ancillary revenues;
(3) Excluding currency gains and losses;
(4) Source: average of analyst estimates reported on Bloomberg;
(5) Excluding perpetual bonds.

The current guidance may be adjusted in order to incorporate the evolution of GOL's operating and financial performance and any eventual changes to the Brazilian economy and GOL's broader economic environment, including variations in economic growth, interest rates, exchange rates, and international oil price trends.