Brazilian carrier Gol had net income of R$354 million ($192 million) in the second quarter and it has reduced its cost base.

Gol says the second quarter's net income of R$354 million compares to a net loss of R$167 million the corresponding period last year.

It says operating costs and expenses fell 26% year-on-year to R$1.3 billion and that in June it received R$104 million as part of a deal to sell fly miles to two Brazilian financial institutions.

As for total earnings before interest and tax, it came in at R$90 million which compares to an operating loss of R$295 million the same time last year, it adds.

Source: Air Transport Intelligence news