Brazil airline Gol gives back gains from merger speculation

SAO PAULO Tue Oct 2, 2012 3:14pm EDT

A Brazilian airline Gol aircraft prepares to land at Congonhas airport in Sao Paulo July 11, 2011. REUTERS/Nacho Doce

A Brazilian airline Gol aircraft prepares to land at Congonhas airport in Sao Paulo July 11, 2011.

Credit: Reuters/Nacho Doce

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SAO PAULO (Reuters) - Shares of Gol Linhas Aereas (GOLL4.SA) (GOL.N), Brazil's second- biggest airline, fell about 10 percent in early Tuesday trading, giving back gains made ahead of a late Monday press conference at which some traders had expected news of a capital injection.

Gol announced plans to order 60 new jets from Boeing Co (BA.N) after markets closed on Monday. Shares of the airline jumped 10.6 percent on Monday after the airline called the press conference without disclosing the subject.

Gol denied reports last month that management was in takeover talks with fast-growing Qatar Airways.

(Reporting by Brad Haynes; Editing by Gerald E. McCormick)

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