Exhibit 21

List of Subsidiaries - Gol Linhas Aéreas Inteligentes S.A.

Name	Jurisdiction of Incorporation
Gol Finance Cayman	Cayman Islands, BWI
Gol Finance	Cayman Islands, BWI
Gol Transportes Aéreos S.A.	Brazil
GTI S.A.	Brazil
VRG Linhas Aéreas	Brazil