SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER 
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

For the month of July 2023

(Commission File No. 001-32221)

GOL LINHAS AÉREAS INTELIGENTES S.A.

(Exact name of registrant as specified in its charter)

GOL INTELLIGENT AIRLINES INC.

(Translation of registrant’s name into English)

Praça Comandante Linneu Gomes, Portaria 3, Prédio 24
Jd. Aeroporto 
04630-000 São Paulo, São Paulo
Federative Republic of Brazil

(Address of registrant’s principal executive offices)

Indicate by check mark whether the registrant files or will file 
annual reports under cover Form 20-F or Form 40-F. 

Form 20-F ___X___ Form 40-F ______

Indicate by check mark whether the registrant by furnishing the 
information contained in this Form is also thereby furnishing the 
information to the Commission pursuant to Rule 12g3-2(b) under 
the Securities Exchange Act of 1934. 

Yes ______ No ___X___

Unaudited Interim Condensed

Consolidated Financial Statements

GOL Linhas Aéreas Inteligentes S.A.

June 30, 2023

Gol Linhas Aéreas Inteligentes S.A.

Unaudited interim condensed consolidated financial statements

June 30, 2023

Contents

Consolidated statements of financial position June 30, 2023 and December 31, 2022 (In thousands of Reais - R$)

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

Consolidated statements of financial position June 30, 2023 and December 31, 2022 (In thousands of Reais - R$)

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

Consolidated statements of operations Six-month periods ended on June 30, 2023 and 2022 (In thousands of Reais - R$, except Basic and Diluted income (loss) per share)

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

Consolidated statements of comprehensive income (loss) Six-month periods ended on June 30, 2023 and 2022 (In thousands of Reais - R$)

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

Consolidated statements of changes in equity Six-month periods ended on June 30, 2023 and 2022 (In thousands of Reais - R$)

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

Consolidated statements of cash flows Six-month period ended on June 30, 2023 and 2022 (In thousands of Reais - R$)

Consolidated statements of cash flows Six-month period ended on June 30, 2023 and 2022 (In thousands of Reais - R$)

The transactions that don’t affect cash and cash equivalents are presented in Note 32 of these unaudited interim condensed consolidated financial statements.

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

V

Gol Linhas Aéreas Inteligentes S.A. (“Company” or “GOL”) is a limited liability company incorporated on March 12, 2004 under Brazilian laws. The Company’s bylaws states that the corporate purpose is exercising the equity control of GOL Linhas Aéreas S.A. (“GLA”), which

provides scheduled and non-scheduled air transportation services for passengers and cargo, maintenance services for aircraft and components, develops frequent-flyer programs, among others.

The Company’s shares are traded on B3 S.A. - Brasil, Bolsa, Balcão (“B3”) and on the New York Stock Exchange (“NYSE”) under the ticker GOLL4 and GOL, respectively. The Company adopts B3’s Special Corporate Governance Practices Level 2 and is part of the Special Corporate Governance (“IGC”) and Special Tag Along (“ITAG”) indexes, created to distinguish companies that commit to special corporate governance practices.

The Company’s official headquarters are located at Praça Comandante Linneu Gomes, s/n, portaria 3, prédio 24, Jardim Aeroporto, São Paulo, Brazil.

The corporate structure of the company and its subsidiaries, on June 30, 2023, is shown below:

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

The Company's equity interest in the capital stock of its subsidiaries, on June 30, 2023, is presented below:

The subsidiaries GAC Inc., GOL Finance and GOL Finance Inc. are entities created for the specific purpose of continuing financial operations and related to the Company's fleet. They do not have their own governing body and decision-making autonomy. Therefore, their assets and liabilities are consolidated in the parent company.

GTX S.A., direct subsidiary by the Company, is pre-operational and its corporate purpose is to manage its own assets and have an interest in the capital of other companies.

Smiles Fidelidade, incorporated in February 2023 and pre-operational as of June 30, 2023, has as purpose the development and management of a customer loyalty program, whether own or third-party; the sale of rights to redeem prizes within the scope of the customer loyalty program; and provide general tourism services, among others.

Smiles Viagens e Turismo S.A. (“Smiles Viagens”), has as main purpose intermediating travel organization services by booking or selling airline tickets, accommodation, tours, among others. The subsidiaries Smiles Fidelidade Argentina and Smiles Viajes Y Turismo S.A., both headquartered in Buenos Aires, Argentina, have the purpose to promote Smiles Program’s operations and the sale of airline tickets in this country.

The investment funds Airfim and Fundo Sorriso, controlled by GLA, have the characteristic of an exclusive fund and act as an extension to carry out operations with derivatives and financial investments, so that the Company consolidates the assets and liabilities of these funds.

On June 30, 2023, the net working capital is negative by R$10,818,649 (negative by R$ 10,867,704 on December 31, 2022) and negative equity of R$20,415,302 (negative by R$21,358,815 on December 31, 2022).

The observed variation is mainly due to the following factors:

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

The Company is highly sensitive to the macroeconomic scenario and Brazilian Real’s volatility, as approximately 94.1% of the indebtedness (loans and financing and leases) is linked to US dollars (“US$”) and 47.1% of costs are also linked to US dollars, while the capacity to adjust ticket prices charged to its customers in order to offset the U.S. dollar appreciation is dependent on capacity (offer) and ticket prices practiced by the competitors.

Over the past five years, Management has taken a series of measures to adjust its capital structure and preserve liquidity and efficiency in its cost indicators. During the pandemic, the focus was on adjusting the fleet size to match seat capacity with demand levels, thereby maintaining high occupancy rates while improving productivity and efficiency in fixed costs. By the end of 2022, having almost returned to the same level of capacity and operational fleet size to its pre-pandemic levels, the Company achieved dollar unit costs similar to those prior to the pandemic, mitigating the effects of inflationary cost pressures, currency devaluation, and higher aviation fuel prices. Consumer demand for leisure air travel remains robust, even amidst a slower recovery in corporate demand, which has resulted in a 40% increase in fare levels compared to pre-pandemic levels and occupancy rates above 80%.

During the first 6 months of 2023, the Company completed a capital market transaction with Abra Group, raising up to US$1.4 billion, which provided new capital resources and refinanced approximately 58% of its debts maturing in 2024, 2025, and 2026, extending the average maturity to 2028 by over 3 years. The closest maturity related to ESN 2024 was refinanced by 84% in this transaction. The Company continues to work on improving operational efficiency, increasing profitability, and, together with its fleet transformation process, deleveraging and strengthening its balance sheet.

Although there is still significant uncertainty about how long it will take for the airline industry to recover, and this leads to a material uncertainty about our ability to remain in operation, the Company’s unaudited interim condensed consolidated financial information statements for the period ended on June 30, 2023, has been prepared on the assumption of a going concern, which assumes the realization of assets and satisfaction of liabilities and commitments in the normal course of business, in accordance with the business plan prepared by the Management, reviewed and approved at least annually by the Board of Directors. Therefore, these unaudited interim condensed consolidated financial information statements do not include any adjustments that may result from the inability to continue operating.

In April 2022, the Company signed a 10-year cargo service agreement with Mercado Livre. This agreement provides for a dedicated cargo fleet with 6 Boeing 737-800 BCFs, allowing including another 6 cargo aircraft by 2025. During the period ended June 30, 2023, the Company received 2 cargo aircraft, totaling 4 cargo aircraft in operation on this date.

GOL's agreement with Mercado Livre is part of the Company's investment to meet the needs of the growing Brazilian e-commerce market. As a result, the Company plans to expand its services and significantly increase the available cargo carrying capacity in tons in 2023 to generate additional revenue.

In May, 2022, the Company announced that its controlling shareholder, MOBI Fundo de Investimento em Ações Investimento no Exterior (“MOBI FIA”), had entered into a Master Contribution Agreement with the main shareholders of Investment Vehicle 1 Limited (“Avianca Holding”).

Under the terms of the Master Contribution Agreement, MOBI FIA was required to contribute its shares in GOL, and the main investors of Avianca Holding were required to contribute their shares in Avianca Holding to Abra Group Limited (“Abra”), a privately held company, incorporated under the laws of England and Wales. Additionally, the parties agreed to enter into a Shareholders' Agreement to govern their rights and obligations as shareholders of Abra.

GOL and Avianca will continue to operate independently and maintain their respective brands and cultures.

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

In June, 2021, GOL signed an agreement to acquire MAP Transportes Aéreos Ltda., a domestic Brazilian airline with routes to regional destinations from Congonhas Airport in São Paulo, considering the Company's commitment to expand the air transportation demand and rationally consolidate in the domestic market as the country's economy recovers from Covid-19.

In December, 2021, through SG Order 1929/2021, the Administrative Council for Economic Defense (CADE) approved the operation without restrictions. The conclusion of the transaction is subject to other precedent conditions, which have not yet been fulfilled. Therefore, on June 30, 2023, there are no impacts on the unaudited interim condensed consolidated financial statements.

MAP may be acquired for R$28 million to be paid only after meeting all precedent conditions, through 100,000 preferred shares (GOLL4) at R$28.00 per share and R$25 million in cash in 24 monthly installments, with the assumption of up to R$100 million in MAP's financial commitments. On June 30, 2023, these conditions have not yet been finalized.

The Company’s unaudited interim condensed consolidated financial statements were prepared in accordance with the International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”).

The Company’s unaudited interim condensed consolidated financial statements were prepared using the Brazilian Real (“R$”) as the functional and presentation currency. Figures are expressed in thousands of Brazilian reais, except when stated otherwise. The items disclosed in foreign currencies are duly identified, when applicable.

The preparation of the Company’s unaudited interim condensed consolidated financial statements requires Management to make judgments, use estimates, and adopt assumptions affecting the stated amounts of revenues, expenses, assets, and liabilities. However, the uncertainty inherent in these judgments, assumptions, and estimates could give rise to results that require a material adjustment of the book value of certain assets and liabilities in future periods.

The Company is continually reviewing its judgments, estimates, and assumptions.

Management, when preparing these unaudited interim condensed consolidated financial statements, used the following disclosure criteria, considering regulatory aspects and the relevance of the transactions to understand the changes in the Company’s economic and financial position and its performance since the end of the fiscal year ended December 31, 2022, as well as the update of relevant information included in the annual financial statements related to the year ended December 31, 2022 disclosed on March 21, 2023.

Management confirms that all the material information in these unaudited interim condensed consolidated financial statements are being demonstrated and corresponds to the information used by Management in the development of its business management activities.

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

The unaudited interim condensed consolidated financial statements have been prepared based on historical cost, with the exception of the following material items recognized in the statements of financial positions:

The Company’s unaudited interim condensed consolidated financial statements for the period ended June 30, 2023, has been prepared assuming that it will continue as a going concern, realizing assets and settling liabilities in the normal course of business, as per Note 1.2.

The approval and authorization for the issuance of these unaudited interim condensed consolidated financial statements took place at the Board of Directors’ meeting held on July 26, 2023.

The unaudited interim condensed consolidated financial statements were prepared based on policies, accounting practices and estimate calculation methods adopted and presented in detail in the annual financial statements related to the year ended December 31, 2022, issued on March 21, 2023.

The following amendments to accounting standards became effective for periods beginning after January 1, 2023:

These changes did not impact the Company's unaudited interim condensed consolidated financial information statements. Additionally, in the period ended June 30, 2023, no new standards or pronouncements were published which are expected to impact the Company's unaudited interim condensed consolidated financial information statements. Finally, the Company did not opt for the early adoption of standards or pronouncements.

Foreign currency transactions are recorded at the exchange rate change prevailing on the date on which the transactions take place. Monetary assets and liabilities designated in foreign currency are calculated based on the exchange rate change on the balance sheet date. Any difference resulting from the translation of currencies is recorded under the item “Monetary and foreign exchange rate variation, net” in the statement of operations.

The exchange rate changes in reais in effect on the base date of these unaudited interim condensed consolidated financial statements are as follows:

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

Under normal economic and social conditions, the Company expects revenues and operating income (expense) from its flights to be at their highest levels in the summer and winter vacation periods, in January and July, respectively, and during the last weeks of December and in the year-end holiday period. Given the high proportion of fixed costs, this seasonality tends to drive changes in operating income (expense) across the fiscal-year quarters.

The breakdown of cash equivalents is as follows:

Of the total amount recorded on June 30, 2023, R$287,307 (R$266,553 on December 31, 2022), refer to investments used as guarantees linked to deposits for lease operations, derivative financial instruments, lawsuits and loans and financing.

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

The aging list of trade receivables, net of allowance for expected loss on trade receivables accounts, is as follows:

The changes in an expected loss on trade receivables are as follows:

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

The changes in the provision for obsolescence are as follows:

The Company makes deposits in U.S. dollars for the maintenance of aircraft and engines, which will be used in future events as established in certain lease agreements. The Company has the right to choose to carry out the maintenance internally or through its suppliers.

Maintenance deposits do not exempt the Company, as a lessee, from contractual obligations related to the maintenance or the risk associated with operating activities. The Company has the right to choose to perform maintenance internally or through its suppliers. These deposits can be replaced by bank guarantees or letters of credit (SBLC - stand by letter of credit) as according to the conditions established in the aircraft lease. These letters can be executed by the lessors if the maintenance of the aircraft and engines does not occur according to the review schedule. On June 30, 2023, no letters of credit had been executed against the Company.

The Company has two categories of maintenance deposits:

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

Court deposits and blocks represent guarantees of tax, civil and labor lawsuits, kept in court until the resolution of the disputes to which they are related. Part of the court deposits refers to civil and labor lawsuits arising from succession requests in lawsuits filed against Varig S.A. or also labor lawsuits filed by employees who do not belong to GLA or any related party. Considering that Management does not believe that the Company is legally responsible for such claims and the release of the court deposits has been claimed.

As required by the lease agreements, the Company makes guarantee deposits (in U.S. dollars) to the leasing companies, which can be redeemed if replaced by other bank guarantees or fully redeemed at maturity.

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

The positions of deferred assets and liabilities are presented below and comply with the enforceable offset legal rights that consider taxes levied by the same tax authority under the same tax entity.

 ^{(*) Exchange rate change recognized in other comprehensive income.}

The Company’s Management considers that the deferred assets and liabilities recognized on June 30, 2023 from temporary differences will be realized in proportion to realization of their bases and the expectation of future results.

The Management estimates that active deferred tax credits, recorded on tax losses and a negative social contribution base, may be realized as follows:

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

The direct subsidiary GLA has tax losses and negative bases of social contribution in the determination of taxable profit, to be offset against 30% of future annual tax profits, with no prescription period, not recorded in the balance sheet, in the following amounts:

The reconciliation of tax expenses and multiplying the loss before income tax and social contribution by the nominal tax rate for the periods ended June 30, 2023 and 2022 is as follows:

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

The breakdown of and changes in property, plant and equipment are as follows:

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

The breakdown of and changes in intangible assets are as follows:

The balances of goodwill and airport operating rights (slots) were tested for impairment on December 31, 2022 through the discounted cash flow for each cash-generating unit, giving rise to the value in use. The Company operates a single cash generating unit, considering that the revenue depends on different assets that cannot be evaluated in isolation for measuring the value in use. On June 30, 2023, no indications of impairment on the cash-generating unit were identified.

To establish the book value of each CGU, the Company considers not only the recorded intangible assets but also all tangible assets necessary for conducting business, as it is only through the use of this set that the Company will generate economic benefits.

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

The breakdown of and changes in short and long-term loans and financing are as follows:

⁽¹⁾        Exchangeable Senior Notes, see note 31.2.

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

On June 30, 2023 total loans and financing includes funding costs and premiums totaling R$84,040 (R$178,706 on December 31, 2022) that will be amortized over the life of their loans and financing. The total also includes the fair value of the derivative financial instrument, referring to the convertibility of the ESN 2024, totaling R$5,701 on June 30, 2023 (R$17,753 on December 31, 2022).

The renegotiations detailed below were evaluated under IFRS 9 - “Financial Instruments” and did not meet the definitions to derecognize the liabilities (with the original financial liability extinguished and a new financial liability recognized).

During the period ended on June 30, 2023, General Meetings of Bondholders were held, which deliberated:

During the period ended June 30, 2023, the Company, through its subsidiary GLA, raised funds and renegotiated the due dates of this type of agreement, impacting the interest rate, disclosed in table above. The remaining conditions of this operation remained unchanged. Such operations are part of a credit line maintained by GLA for engine maintenance, import financing in order to purchase spare parts and aircraft equipment.

On June 30, 2023, the Company issued additional Senior Secured Amortizing Notes to those issued on December 30, 2022, as shown in the table below:

Under the terms of the controlling shareholder transaction disclosed in note 1.4, in February 2023, the Company and Abra signed the Support Agreement with Abra's commitment to invest in the Company from the issuance of Senior Secured Notes due in 2028. Part of the funds from the commitment assumed for financing came from the members of an Ad-Hoc Group of holders of Senior Notes of GOL (“Ad-Hoc Group”) and another part of the investment came from holders of Senior Notes outside the Group Ad-Hoc (“Non-AHC Group”), who have adhered to the terms of the Support Agreement.

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

To this end, Abra has agreed to issue the Senior Secured Notes (“SSNs”) due 2028, which will be convertible into Exchangeable Senior Secured Notes (“ESSNs”) due 2028, and the Ad-Hoc Group has agreed to exchange certain Company's existing Senior Notes (ESN 2024, Senior Notes 2025, Senior Secured Notes 2026 and the Perpetual Notes) for the new SSNs.

In this financing commitment, Abra has agreed to (i) invest cash in the Company; (ii) contribute GOL Bonds acquired from the Ad-Hoc Group and other holders to GOL; and (iii) in return, receive new Bonds through the issuance of SSNs.

In March 2023, Abra issued the SSNs and entered into the Senior Secured Note Purchase Agreement with GOL as guarantor and paying agent, GOL Finance as issuer and guarantee of Smiles Fidelidade S.A.. On the same date, GOL issued SSN 2028 to Abra, with interest of 18.0% p.a., payable semi-annually, of which the Company may choose to capitalize up to 13.5% p.a., and a discount of 15 points. The SSN 2028 are guaranteed by the intellectual property, systems infrastructure, data and manuals of the Smiles loyalty program, in addition to the parts guarantee shared with the Senior Secured Notes 2026.

During the period ended June 30, 2023 the Company issued to Abra R$5,885,314, equivalent to US$1,168,620, in the form of Senior Secured Notes 2028, whose fair value upon initial recognition totaled R$6,286,328 (US$1,211,016). Given that the transaction was carried out with the Company's controlling shareholder, the difference between the nominal value of the debt and the fair value was recognized directly in shareholders' equity.

Part of the issue carried out was used to repurchase 84.0% of the 2024 ESN, 47.0% of the 2025 Senior Notes, 61.4% of the 2026 Senior Secured Notes and 9.9% of the Perpetual Bonds, totalizing the carrying amount of R$5,192,880. Considering the change of creditor, such amortizations were considered as partial extinguishment, under the perspective of IFRS 9. In this context, the costs related to the issuance, as well as the difference between the carrying amount attributed to the part unrecognized by the partial extinguishment of the securities repurchased and the face value of the new liability assumed, were recognized directly in the result, see accompanying note 29. In addition to the amounts mentioned above, part of the issuance did not pass through the Company's cash, being directly transferred by Abra for payment of the Company's obligation with to supplier, see accompanying note 32.

SSN 2028 may, at Abra's request, be converted into Exchangeable Senior Secured Notes 2028 (ESSN 2028), provided that the Company has obtained the respective corporate approvals and issuance of warrants that may be exchanged for preferred shares issued by the Company, which should ensure preemptive rights for GOL's shareholders.

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

On June 30, 2023, the maturities of loans and financing recorded in non-current liabilities were as follows:

The fair value of loans and financing as of June 30, 2023, is as follows:

(*) Total net of funding costs.

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

The Company has covenants in the Debentures, Senior secured notes 2026 and Senior Secured Amortizing Notes.

The mandatory measurement of the indicators provided for in the deeds of the 7^th and 8^th issuance will be as of June 2023. The next measurement will be in December 2023.

Within the scope of the Senior secured notes 2026, the Company complies with guarantee conditions linked to inventory parts and intellectual property. On June 30, 2023, the Company had GLA’s parts and equipment guaranteed linked to this agreement meeting the contractual conditions. The next measurement will be in December 2023.

In the operation of Senior Secured Amortizing Notes, the Company complies with guarantee conditions related to receivables on a quarterly basis. On June 30, 2023, the Company had GLA’s receivables as collateral for this contract that met the contractual conditions. The next measurement will be in December 2023.

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

On June 30, 2023, the balance of leases payable includes: (i) R$12,565 relating to variable payments, not included in the measurement of liabilities, and short-term leases (R$15,670 on December 31, 2022), which fall under the exemption provided for in IFRS 16; and (ii) R$9,652,104 referring to the present value on this date of future lease payments (R$11,191,289 on December 31, 2022).

The breakdown and changes in the present value of future lease payments are shown below:

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

In the period ended June 30, 2023, the Company directly recognized in the cost from services, totaling R$23,307 (R$5,135 on June 30, 2022) related to short-term leases and variable payments.

In the context of dedicated cargo aircraft operations, the Company earned in the period ended June 30, 2023 subleasing revenue in the amount of R$20,120.

The future payments of leases liabilities agreements are detailed as follows:

During the period ended June 30, 2023, the Company carried out sale-leaseback operations of 9 engines, from which it recorded a net gain of R$72,327 (R$55,491 referring to 8 sale-leaseback operations during the period ended on June 30, 2022), recorded in the statement of operations in the group of “Other income (expenses), net”.

The Company has an arrangement in place that allow suppliers to receive their payments in advance with the financial institution. The forfaiting operations do not imply any change in the securities issued by their suppliers, with the original trading conditions being maintained, including maturities and amounts. On June 30, 2023, the amount recorded under current liabilities arising from forfeiting operations was R$19,955 (R$29,941 on December 31, 2022).

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)

On June 30, 2023, the balance of advance ticket sales classified in current liabilities was R$3,236,211 (R$3,502,556 on December 31, 2022) and is represented by 9,749,467 tickets sold and not yet used (8,828,006 on December 31, 2022) with an average use of 67 days (56 days on December 31, 2022).

Balances of advance ticket sales are shown net of breakage corresponding to R$259,107 on June 30, 2023 (R$ 232,752 on December 31, 2022).

On June 30, 2023, the Company has reimbursements to pay related to non-performed transports in the amount of R$19,478 (R$48,566 on December 31, 2022), recorded as Other liabilities in current liabilities.

Breakage consists of the estimate of miles with a high potential to expire without being used. IFRS 15 – “Revenue from Contract with Customers” provides for the recognition of revenue by the estimate (breakage) over the contractual period, therefore, before the miles are redeemed, given that this is not expected before expiration.

Notes to the unaudited interim condensed consolidated financial information statements June 30, 2023 (In thousands of Reais - R$, except when otherwise indicated)