Brazilian airline GOL is considering filing for Chapter 11 bankruptcy in the United States within the next month, newspaper Folha de Sao Paulo reported on Sunday, citing sources familiar with the matter.
→ GOL to operate direct flights to Bogota from Sao Paulo and Buenos Aires in 2024
“Gol is in discussions with its financial stakeholders about several options that would provide it with greater financial flexibility, including additional capital to finance operations,” the airline told Reuters.
GOL has been struggling with high debt and last month hired Seabury Capital to assist it in a capital structure review that included addressing liability management, financial transactions and “other measures” to enhance its liquidity.
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