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Brazil airline Gol to take charge on Venezuela currency
April 28, 2014 / 9:50 PM / 3 years ago

Brazil airline Gol to take charge on Venezuela currency

SAO PAULO, April 28 (Reuters) - Brazil airline Gol Linhas Aereas SA said first-quarter earnings will take a hit of 75.9 million reais ($34 million) because of costs associated with a drop in the Venezuelan currency from the end of 2013, according to a Monday securities filing.

Gol said the charge would affect financial but not operational results, adding that it held 350.3 million reais in cash in Venezuela at the end of March, which it plans to remit to Brazil despite uncertainty about when it will be able to.

$1 = 2.24 Brazilian reais Reporting by Brad Haynes and Alberto Alerigi Jr.

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