GOL second-quarter loss widens to $222 million
August 16, 2011
GOL posted a second-quarter net loss of BRL358.7 million ($221.6 million), widened from a BRL51.9 million net deficit in the year-ago quarter.
Second-quarter revenue fell 1.5% year-over-year to BRL1.57 billion while expenses rose 19.8% to BRL1.84 billion, owing mainly to a 27.8% jump in fuel costs to BRL730.9 million.
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