GOL Announces that Domestic Supply Fell by 2,9% in March

SUPPLY 
GOL’s domestic supply declined by 2.9% over the same period the year before (March 2011), in line with the 
Company’s strategy to maintain supply flat in 2012 over 2011 (target of 0% growth in consolidated supply). The 
initial objective of the flight rationalization, which began in March, was the cancellation of approximately 60 GOL flights (out 
of 80 that are part of the scope) and 6 Webjet flights, in addition to the reduction in frequency rates for 3 flights as of March 
25th, based on the following criteria: (i) less profitable operations (ii) night flights (during the early hours); and (iii) longer 
flights. As a result, the quarter’s total supply grew by a mere 1.6%, also in line with our strategy announced for 2012. 
GOL’s international supply fell by 21.6% over the same period last year (March 2011), mainly due to: (i) the return of 
three B767 aircraft that had been chartered out for international flights; and (iI) the discontinuation of flights to Bogotá, in Colombia. 

DEMAND 
In March, GOL’s domestic demand fell by 10.1% year on year, chiefly due to carnival, which fell in March in 2011 and 
in February in 2012. This trend favored the domestic market in March 2011, which recorded a higher-than-expected load 
factor. 

GOL’s international demand declined by 21.1% year on year, chiefly due to network differences between the periods. 
LOAD FACTOR AND YIELDS 
In the period, GOL’s total load factor came to 64.3%, 4.5 percentage points lower than in the same month last year, 
chiefly due to carnival which fell in March in 2011, as opposed to February in 2012. 
In March, GOL’s yields were virtually flat over the same period the year before, at between 18.0 and 18.5 cents (R$), 
while quarterly yields increased by 4% year on year. PRASK fell by 6% over March 2011. 
*2011 RPK adjusted in accordance with the operating data recalculated based on the current DCA Manual. 
WEBJET 
Webjet continued to post a load factor consistent with its business proposal and its supply grew by 25.3% in March due to 
the operation of 4 737-800 aircraft sub-leased from GOL in the period.