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GOL Receives Antitrust Authority Approval of VRG Acquisition

Written by thomas · Filed Under Commercial 

June 26, 2008

thomas

SAO PAULO, Brazil, June 25 /PRNewswire-FirstCall/ — GOL Linhas Aereas
Inteligentes S.A. (Bovespa: GOLL4 and NYSE: GOL), parent company of GOL
Transportes Aereos S.A. and VRG Linhas Aereas S.A., announced today that
the Brazilian Administrative Board for Economic Defense (Cade) approved the
completion of the VRG acquisition by GTI S.A., a subsidiary of GOL Linhas
Aereas Inteligentes S.A. with no restrictions, allowing the Company to
consolidate its passenger and cargo transportation.

“We are very happy to have received Cade approval, which will allow us
to consolidate our investments and improve synergies between the airlines’
operations. The addition of VRG will increase our network capacity and
allow us to offer more convenient flight schedules, launch new routes and
add service to new destinations, which will have a positive effect on the
dynamics of the Brazilian aviation industry as a whole. Most importantly,
the acquisition will benefit our customers, who will now have access to
more options in the market,” says Constantino de Oliveira Junior, GOL’s
President and CEO.

Additionally, integrating GTA and VRG’s operations will allow the
Company to optimize revenues and costs as well as maximize the consolidated
company’s operational, financial and ancillary revenue capabilities. The
Company will continue to invest in IT, quality passenger service, and
expanding GTA and VRG’s route networks through organic growth and
operational agreements with other airlines.

Cade determined that the acquisition will have no effect on market
competition or consumer options in the Brazilian aviation industry. The
acquisition of VRG, which was announced on March 28, 2007, and approved by
the National Civil Aviation Agency (Anac) on April 3, 2007, had already
received favorable rulings from the Ministry of Justice’s Secretary of
Economical Law (SDE), the Ministry of Finance’s Secretary of Economical
Monitoring (SEAE) and Cade’s Public Attorney.

SOURCE GOL Linhas Aereas Inteligentes S.A.

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