Announces Plan for Fleet Modernization and Renewal

GOL has decided to exercise firm orders for 34 Boeing 737-800 NGs, completing the purchase option for 121 aircraft negotiated in October 2006, and has signed a new contract for the acquisition of 40 additional aircraft for delivery in 2012-2014.

"This new contract will further reduce GOL's costs and enable us to continue to modernize our fleet with new aircraft," says Fernando Rockert de Magalhaes, GOL's Technical Vice President. The agreement, which increases the number of aircraft on order from 121 to 161, is in line with GOL's policy of reducing operating costs by operating a standardized fleet.

The Boeing 737-800 NG, with its low operating costs, is a key part of GOL's strategy. Boeing developed the 737-800 SFP aircraft with short runway and take-off and landing capabilities per GOL's specifications.

The 737-800 is larger than the 737-700 and can carry up to 30 percent more passengers. "Increased seat capacity per aircraft not only reduces the costs of providing passenger transportation, but also improves our ability to distribute passengers within our large domestic and growing international flight networks," adds Rockert.

The Company also announced that it has accelerated its plans for modernization and renewal of the GOL and VRG fleets.

By the end of 2009, 50 percent of the narrow-body fleet will be comprised of 737-800SFP aircraft, reducing the average age of the combined narrow-body fleet to 5.5 years. At the end of 2012, over 75 percent of the narrow-body fleet will be comprised of 737-800 SFP aircraft, maintaining the average age of the combined narrow-body fleet at 5.5 years.

Boeing Statement on Brazil's GOL Airlines Fleet Selection

The Boeing Company is honored that Brazil's GOL Linhas Aéreas S.A., the parent company of Brazil's low-cost airlines GOL Transportes Aéreos S.A. and VRG Linhas Aéreas S.A., Latin America's largest 737 operator, has announced selection of the Next-Generation 737 as a key element of its fleet renewal. "GOL has garnered international attention by consistently posting profits since beginning operations, and the 737 has been a large part of that success," said John Wojick, Boeing's vice president of sales for Latin America and the Caribbean. "The Next-Generation 737 enables GOL to continue providing passengers reliable, on-time performance while benefiting from the airplane's reliability and fast airport turnaround times."

Boeing looks forward to concluding financial and contractual details of the GOL selection.

Web site: www.boeing.com, www.voegol.com.br/ir