Gol Intelligent Airlines Inc was formed on March 12, 2004. It provides frequent service on routes connecting all of Brazil's major cities and from Brazil to major cities in South America and selected tourist destinations in the Caribbean. Its segments include flight transportation and smiles loyalty program. Flight transportation's operations are derived from VRG and consist in provide air transportation services and the major assets earning revenue are its aircraft. Other revenues primarily arise from cargo, excess baggage charges and cancellation fares, all directly attributable to flight transportation services. Smiles loyalty program's operations in this segment are represented by miles sales transactions to airline and non-airline partners. Its main competitors in Brazil are LATAM Airlines Group, or LATAM, Azul Linhas Aéreas, or Azul, and Avianca Brasil, or Avianca.
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