Brazilian airline Gol Linhas Aereas (Gol) has lowered its outlook for 2011 operational margins as rising fuel and additional personnel costs impact earnings. In a securities filing, Gol slashed its operational margin to between 1 and 4%, from 6.5-to-10% previously. The airline grew its seat capacity by 14.4% in the first half of 2011 in response to high domestic demand. Fuel now account for 40% of Gol’s total costs. The company has also incurred additional costs for the hiring and training of 395 co-pilots to guarantee future expansion plans. Gol has also announced it is ending charter flight operations it

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