Announcement Regarding Formation of Ad Hoc Group of GOL Noteholders

NEW YORK, April 26, 2016 /PRNewswire/ -- An ad hoc group ("Noteholder Group") of holders of unsecured notes (the "Notes") issued by GOL Finance Inc., GOL LuxCo S.A. and VRG Linhas Aereas S.A. ("VRG") and guaranteed by GOL Linhas Aereas Inteligentes S.A. (collectively, "GOL") and certain Notes additionally guaranteed by VRG has been formed in response to GOL's announcement in its March 30, 2016 earnings report and investor presentation (the "Investor Report") that GOL has hired PJT Partners ("PJT") as its financial advisor to advise on "initiatives to strengthen the Company's capital structure, liquidity and debt profile, as well as alternatives to foreign unsecured debt."  The Investor Report also notes that GOL has experienced liquidity pressure and believes its "capital structure needs to be changed."  The Noteholder Group looks forward to working with GOL and PJT in understanding and addressing the issues facing GOL in light of Brazil's current economic challenges, including any initiatives being considered by GOL and PJT.  In that regard, the Noteholder Group has hired White & Case LLP as its counsel.  Holders of the Notes are encouraged to contact the Noteholder Group through counsel.  Counsel details are as follows:

White & Case LLP
1155 Avenue of the Americas
New York, New York 10036

SOURCE White & Case LLP