GOL and Iberia Sign Code-Share Agreement

SAO PAULO, Oct. 20 /PRNewswire-FirstCall/ -- GOL Linhas Aereas Inteligentes S.A. (Bovespa: GOLL4 and NYSE: GOL), the largest low-cost and low-fare airline in Latin America, and Iberia, Spain's largest air transport group, announced today that the companies have signed a code-share agreement. The companies are also evaluating the possibility of linking their frequent flyer programs, GOL's SMILES and Iberia's Plus.

Under the code-share agreement, Iberia can add its IATA code to GOL flights from Rio de Janeiro and Sao Paulo to 13 Brazilian destinations: Belo Horizonte, Brasilia, Curitiba, Florianopolis, Fortaleza, Foz do Iguacu, Goiania, Manaus, Natal, Porto Alegre, Recife, Salvador and Vitoria. Iberia passengers will benefit from more flight connection options throughout Brazil, while the agreement provides an additional sales channel for GOL, increasing passenger traffic and load factor for the Brazilian carrier.

Headquartered in Madrid, Iberia offers two direct daily flights between Spain's capital and Sao Paulo (Guarulhos Airport) as well as one direct daily flight to Rio de Janeiro (Galeao Airport), operating Airbus A340-600 and A340-300 aircraft. Iberia is Spain's largest air carrier group and the fourth-largest in Europe. It is also the leading airline of Europe and Latin America routes, with the most flight options and destinations.

In compliance with standard regulation requirements, GOL will submit the contract to the National Civil Aviation Agency (Anac), the Brazilian aviation authority, and to the Brazilian Antitrust Agency (Cade), the antitrust counsel, for their evaluation before implementing the agreement.

About GOL Linhas Aereas Inteligentes S.A.

GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL and Bovespa: GOLL4), the largest low-cost and low-fare airline in Latin America, offers around 800 daily flights to 49 destinations that connect all the important cities in Brazil and ten major destinations in South America and Caribbean. The Company operates a young, modern fleet of Boeing 737 Next Generation aircraft, the safest and most comfortable of its class, with high aircraft utilization and efficiency levels. Fully committed to seeking innovative solutions through the use of cutting-edge technology, the Company -- via its GOL, VARIG, GOLLOG, SMILES and VOE FACIL brands -- offers its clients easy payment facilities, a wide range of complementary services and the best cost-benefit ratio in the market.

This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of GOL. These are merely projections and, as such, are based exclusively on the expectations of GOL's management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors and risks disclosed in GOL's filed disclosure documents and are, therefore, subject to change without prior notice.