Historical Background

Since the beginning of our operations in 2001, our simple, affordable and reliable services and our focus on markets that were either underserved, or did not have a lower-fare alternative, have led to a strong awareness of our brand and a rapid increase in our market share. We were the first company to successfully introduce low-cost carrier industry practices and technologies in Latin America.

We began operations on March 12, 2004 as a corporation duly constituted under the Brazilian laws. Our objective is to exercise control of VRG Linhas Aéreas S.A. or of its successor in any form, and also to explore, through controlled or affiliate companies: (a) regular and non-regular air transportation services of passengers, cargo and mail bags, nationally or internationally; (b) complementary activities of chartering air transportation of passengers, cargo and mail bags; (c) the rendering of maintenance services, repair of aircrafts, own or third parties, motors, items and parts; (d) the rendering of services of aircraft hangar; (e) the rendering of services of attendance of patio and road, supplying of flight attendance and aircrafts cleaning; (f) the development of other activities related, connected or auxiliary to air transportation and to the other activities above described; and (g) participation in other companies, as a partner, quotaholder or shareholder.

We own all the shares issued by VRG, except for those held by VRG’s Board members for eligibility purposes. Our headquarters are located at Praça Comandante Linneu Gomes, S/N, Portaria 3, Jardim Aeroporto, CEP: 04626-020, in the city and state of São Paulo, Brazil, and our general phone number is +55 11 2128-4000. The phone number of our investor relations department is +55 11 2128-4700. Information to investors can be found on our website www.voegol.com.br. All the information on our website is not contained in our annual report, and should not be considered an integral part thereof.

According to the International Air Transport Association (IATA), we are one of the largest low-cost best-fare airlines in the world in terms of passengers carried in 2013, and the largest company in Latin America in this category. We offer scheduled flights with routes linking all major cities in Brazil and the latter to the major cities in South America and destinations in the Caribbean and in the United States of America. With our young, standardized operational fleet of 141 Boeing 737 Next Generation aircraft, our convenient route network has the largest number of daily departures among all airlines in Latin America.

Since the beginning of our operations in 2001, our focus on service, continually improving our products, dynamism, supply management and strategy to become more and more attractive for business travelers and to offer competitive fares for recreational travelers. We were the first company to successfully introduce practices and technologies from the low-cost transport segment into Latin America. Our strategy is to maintain a streamlined cost structure, to increase market share by attracting new passengers, as well as to diversify our revenue through our well-established route network, a modern aircraft fleet, targeted marketing and our Smiles loyalty program (one of the largest loyalty programs in Latin America, a variety of attractive secondary business such as our air cargo service (GOLlog), and a variety of payment mechanisms designed to facilitate the purchase of our tickets. Revenue from passenger transport accounted for 88,9% of total net revenue of R$2.5 billion in the 1Q15 and ancillary revenue (cargo and other) for 11,1%.

As of December 31, 2013, we owned all shares issued by VRG, except those held by members of the Board of Directors, for eligibility purposes. We also had a 57% interest in Smiles S.A. (54.5% as of March 31, 2014, after the exercise of stock options by General Atlantic), our subsidiary responsible for the loyalty program.

In April 2015, we offered around 910 daily flights to 72 destinations, 16 of which international flights in South America, Caribbean and the United States.

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