GOL Reviews Financial Outlook

São Paulo, August 1, 2019 - GOL Linhas Aéreas Inteligentes S.A. ("GOL" or "Company"), (NYSE: GOL and B3: GOLL4), Brazil's premier domestic airline, reviews its financial outlook for 2019 and 2020. Guidance is adjusted to reflect recent variations in oil prices, the depreciation of the BRL versus the USD and adjustments to the fleet plan.

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.

(1) Gross revenue of cargo, loyalty, buy-on-board and other ancillary revenues; (2) Excluding currency gains and losses and Unrealized losses on Exchangeable Senior Notes; (3) Source: average of analyst estimates reported on Bloomberg; (4) Gross PDPs; (5) Excluding perpetual bonds; (6) Includes stock option exercises that may be issued from the stock option program and related to Exchangeable Senior Notes.

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. GOL has hedged for approximately 67% of its fuel consumption for the remainder of 2019, at an average cost of US$62 and 56% of its fuel consumption for the year of 2020, at an average cost of US$64.