Operational Fleet

The Company closed the quarter with an operational fleet of 137 Boeing 737-700 and 800 NG aircraft (the remaining 4 aircraft of these models were not operating as they are in the process of being returned) with an average age of 7.1 years, and a total fleet of 150 aircraft.

Period End Fleet4Q134Q12Chg.3Q13Chg.
Boeing 737-NG Family 141 126 15 140 1
737-300 Classic* 8 19 -11 8 0
767-300/200* 1 3 -2 1 0
Total 150 148 2 149 1

*Non-operational aircraft.

The Company leases its fleet through a combination of finance and operating leases. Out of the total B737-NG and B767-300 fleet, 96 aircraft were under operating leases and 46 were under finance leases. Of the 46 under finance leases, 40 have a purchase option when their leasing contracts terminate.

In 2013, the Company took delivery of 15 aircraft under operating lease contracts and only one under a finance lease contract. Three aircraft under operating lease contracts were returned. It also sub-leased five aircraft to Transavia Airlines. The primary aim of this operation was to better manage domestic market seat supply, given that the Brazilian low season coincides with the high season in Europe.

GOL did not operate any 737-300 Classic aircraft in 2013, since their technology precedes that of the Next Generation model aircraft. During the year, 11 of these aircraft were removed from the fleet and the remaining eight are in the final phase of negotiations in regard to their sale or return to the lessors.

On December 31, 2013, the Company had 139 firm aircraft acquisition orders with Boeing, totaling around R$36.6 billion, excluding contractual discounts.

Aircraft Commitments (R$ million) 201420152016>2016Total
Aircraft Commitments* 1,764.9 1,167.5 1,221.6 32,396.1 36,550.1

* Considers the list price of the aircraft

Also on December 31, 2013, of the commitments mentioned above, the Company had obligations of R$4.8 billion in pre-delivery deposits, which will be disbursed as per the table below:

Pre-Delivery Payments (R$ million) 201420152016>2016Total
Pre-Delivery Payments 163.4 255.7 136.0 4,276.3 4,831.4

The portion financed through long-term loans with the U.S. Ex-Im Bank, guaranteed by aircraft, accounted for around 85% of the total aircraft cost. Other agents finance the acquisitions with equal or higher percentages, reaching up to 100%.

The Company has been paying for the aircraft acquisitions with its own resources, loans, cash flow from operations, short and medium-term credit lines and financing by the supplier.

Future Fleet Plan

Fleet Plan - End of Period201420152016
Boeing 737-NG Family 137 140 140

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