Brazilian Airline Gol Secures New Financing to Exit Bankruptcy
Gol Linhas Aéreas has taken a decisive step toward leaving its bankruptcy process behind by securing new financing of $125 million. Announced this Thursday, the agreement marks a crucial advancement in its plan to emerge from Chapter 11, a process the airline has been undergoing since early 2024.
Agreement with Key Creditors
The deal was formalized with a group of investors holding part of Gol’s senior secured bonds maturing in 2026. According to documents filed with regulators, this new financial commitment raises the total secured by the company to at least $1.375 billion, strengthening its ability to implement a robust recovery.
The backing of this majority group of creditors is a turning point for the company. Gol states that this support significantly increases the likelihood of its restructuring plan being approved in the coming months.
→ GOL to Resume Flights Between Sao Paulo and Caracas After 9 Years
Adjustments to the Recovery Plan
As part of the agreement, Gol will amend its recovery plan to include the agreed terms. Notable elements include the possibility for creditors outside the core investor group to access up to $100 million in new debt. However, these amounts cannot be converted into company shares.
Additionally, the Brazilian airline has opened the door for other investors outside the central group to participate in the financing, with an available pool of up to $50 million in additional funds.
Projected Exit by Mid-Year
If all pending steps are completed, Gol could officially exit the bankruptcy process by the end of June. The company has reiterated its commitment to an orderly restructuring, allowing it to continue operations and strengthen its position in the competitive Latin American aviation market.
With this new capital injection, the airline aims to regain financial stability without compromising daily operations, maintaining its focus on delivering efficient and competitive service to its passengers.
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