Cramer's 'Mad Money' Recap: GOL Scores in Brazil

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Jim Cramer told "Mad Money" viewers Tuesday that it's virtually impossible for airlines to succeed amid such high fuel prices.

But there is one airline play that Cramer says merits attention lately, and that's the Brazilian company GOL Linhas Aereas Inteligentes(GOL Quote - Cramer on GOL - Stock Picks).

GOL's services include passenger, cargo and charter services, and while the company's accelerated revenue growth looks good, he said there needs to be a lot more to the story to compel him to recommend an airline stock.

He pointed out that Brazil's largest airline, Varig, is "tearing itself apart." Varig, which controls 19% of Brazil's domestic routes and 70% of all international flights in and out of the country, is in huge financial trouble, he said.

Every day, the company burns through fuel and runs up losses, but Cramer doesn't believe the Brazilian government will bail it out. Instead, it will have to sell off planes, fire employees and shut down routes, he said.

And in this case, only two other national airlines can step up to the plate, he said. GOL is one of them.

Even at $71 a barrel for crude, he believes GOL will see upside as it takes up the slack from Varig, and that now is the time to take a look at this airline play.

Cramer Culpa

Cramer cops to his mistakes, including blown calls on Dick's Sporting Goods(DKS Quote - Cramer on DKS - Stock Picks). And he said that his previous bearish call on @Road(ARDI Quote - Cramer on ARDI - Stock Picks) was a mistake, too.

Cramer said he was looking at the company's past earnings, which have been volatile, when he made his original call. But after some consideration, he said he likes the maker of mobile resource management. The company makes GPS systems and has a subscription service that allows companies to keep track of their employees when they are on the road.

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