Gol's operating margin drops as Brazil's carriers refuse to raise fares
Rising fuel prices have led to a reduction in Gol’s operating margin and forced the Brazilian low-cost carrier to significantly lower its guidance for the remainder of 2011 as it has not been able to offset higher fuel costs by increasing fares. Gol, however, expects to remain profitable and is still bullish on its long-term position in the fast-growing Brazilian market.
