GOL reaches key restructuring deal with Boeing under Chapter 11 process
GOL Linhas Aéreas has finalized an agreement with Boeing as part of its ongoing Chapter 11 restructuring process in the U.S. Bankruptcy Court for the Southern District of New York.
The deal, approved on Monday by the court, represents a critical step in GOL’s roadmap toward financial recovery. The airline emphasized that negotiations with Boeing were conducted on “strictly commercial terms” and that the agreements provide “significant benefits” for its operations.
GOL currently has 91 active orders for Boeing 737 MAX aircraft, forming a core part of its fleet renewal strategy.
As part of the broader restructuring, GOL also referenced a previously announced Tax Transaction, which—together with the Boeing agreements—would allow for a minimum distribution of US$235 million to general unsecured creditors. The airline noted, however, that any further increases in this amount would depend on ongoing negotiations with other creditors.
Regarding its debt levels, GOL reiterated that its restructuring plan calls for a substantial debt reduction, including the conversion or elimination of up to US$1.7 billion in pre-filing financed debt and an additional US$850 million in other liabilities.
This conversion will be based on the economic value of shares prior to the restructuring, which, under Brazilian law, will result in significant dilution of existing shares, though subject to shareholder preemptive rights.
The company stated that these actions are part of a broader plan to stabilize its financial position and rebuild trust among creditors and market participants.
In its statement, GOL also cautioned that the release contains “forward-looking statements” that are subject to a range of risks and uncertainties, noting that actual results may differ from expectations due to economic, operational, and market factors.
The airline, part of the Abra Group, operates a fleet of 138 Boeing 737 aircraft and maintains strategic alliances with American Airlines and Air France-KLM. GOL highlights that it has the lowest unit operating cost in Latin America and employs approximately 13,900 people.
Responsable English Feed en Aviacionline. Reportero gráfico.
Para comentar, debés estar registradoPor favor, iniciá sesión