Brazil Gol Q1 profit down on flight cancellations

BRASILIA, April 19 (Reuters) -Low-cost Brazilian airline Gol Linhas Aereas Inteligentes (GOL.N) said on Thursday its first-quarter profit fell by more than a third due to flight cancellations and delays that reduced its load factor.

Net income, calculated under U.S. accounting rules, fell to 116.6 million reais ($57.4 million) from 179.8 million reais in the first quarter a year ago and 92.7 million reais in the fourth quarter 2006.

($1=2.03 reais)