GOL AIRLINES LAUNCHES LOW-FARE SERVICE WITH ALL-BOEING 737-700 FLEET

GOL Airlines of Brazil joined the ranks of all-Boeing operators throughout the world today when it flew its inaugural revenue flight from Brasilia to Sao Paolo. GOL is the newest passenger airline to operate in Brazil, with a fleet consisting entirely of Boeing Next-Generation 737-700s.

Fashioning itself after Southwest Airlines - another all-Boeing 737 operator - GOL is committed to becoming the premiere low-fare, no-frills regional airline of Brazil.

"The Boeing Next-Generation 737-700 was the right choice in building our fleet," said Constantino Oliveira, Jr., CEO of GOL Airlines. "The 737-700 offers the advanced technologies, reliability, comfort and economics we need to be a successful low-cost operation."

Based in Sao Paulo, GOL is a domestic airline operating only inside Brazil. It currently flies six 737-700s, four are leased from Boeing Capital Corporation and two are leased from GE Capital Aviation Services. GOL will take delivery of four additional 737-700s from May through November of this year. Two will be leased through GECAS and two will be leased through Boullioun Aviation Services, Inc.

With 10 737-700s, GOL will be the largest Next-Generation 737 operator in Latin America by the end of this year.

"We are honored that GOL Airlines has chosen the Boeing Next-Generation 737-700," said Dan da Silva, vice president of Boeing Sales - Latin America. "The simplicity and reliability of the 737-700 are major cost reducers. The 737-700 promises to deliver cost savings that GOL can pass on to its customers in the form of low fares."

In addition to Sao Paulo and Brasilia, GOL destinations include Rio de Janeiro, Porto Alegre, Florianópolis, Belo Horizonte and Salvador.

Each airplane in GOL's fleet will make 10 to 12 flights a day - a high volume that requires quick, dependable turnarounds. The Next-Generation 737 offers the efficiency GOL needs to consistently meet its cost targets and schedule commitments.

Another feature of the Boeing Next-Generation 737 is its enviable safety record.

"The 737-700 is the most modern and technologically advanced airplane in its class," said Charles Higgins, vice president of Airplane Safety & Airworthiness, Boeing Commercial Airplanes Group. "The Next Generation 737s have accumulated over one million safe landings. By combining the latest technology of the 737-700 with 30 years experience gained by the 737 Classic, the 737-700 is considered one of the safest airplanes flying today."

GOL is a paperless airline, with 100-percent electronic reservations and ticketing. By extensively using electronic systems and Boeing internet-based services such as MyBoeingFleet.com, GOL expects to achieve significant savings in administrative costs.

Other Boeing 737 Next-Generation operators in Latin America are Varig Airlines, LAPA Argentina, COPA Airlines and BWIA International Airways. Boeing has taken orders for more than 1,700 Next-Generation 737s and has delivered more than 700.