GOL REPORTS 67% NET FALL IN PROFIT

Brazilian airline Gol Linhas Aereas has reported 67% fall in its fourth-quarter net income, due to higher tax payments outweighing strong air travel growth in the country. Gol’s net income fell to 132.2 million reais ($78 million) from 397.8 million reais for the same period a year earlier. The fall largely reflected a tax payment of 85.65 million reais compared with a tax credit of 351.4 million reais that helped inflate its net profit in the year-ago period. Net profit gained 20.2 percent from the third quarter of 2010. EBITDA rose 64% from a year ago to 475 million reais.