US EditionGOL Receives U.S. Court Approval for Plan of Reorganization
- On May 20, 2025, the U.S. Bankruptcy Court confirmed GOL Linhas Aéreas Inteligentes' Chapter 11 reorganization plan, allowing the airline to proceed with its restructuring process in the United States.
- GOL's restructuring process began in January 2024 to address significant debt and improve financial stability amid industry challenges.
- The plan converts or extinguishes about $1.6 billion in funded debt and $850 million in obligations, supported by $1.9 billion in exit financing.
- GOL anticipates having nearly $900 million in available liquidity and plans to reduce its leverage ratio from 5.4 times at exit to 2.9 times by the end of 2027.
- GOL aims to complete the process by early June 2025, strengthening its competitive position and balance sheet while preparing for a shareholders' meeting on May 30.
39 Articles
39 Articles
GOL Exits Bankruptcy as Azul's Financial Crisis Threatens Potential Merger
GOL Linhas Aéreas Inteligentes received U.S. Bankruptcy Court approval for its Chapter 11 restructuring plan on May 20, 2025. The Brazilian airline expects to emerge from bankruptcy by June 6, ending a process that began in January 2024. The restructuring will significantly reduce GOL’s debt burden by converting or eliminating approximately $1.6 billion of pre-bankruptcy […]
Brazil’s GOL secures US Court approval to exit Chapter 11
Brazilian low-cost airline GOL Linhas Aéreas Inteligentes (GOL) is preparing to exit Chapter 11 restructuring with a “strengthened competitive position” after the United States Bankruptcy Court approved its reorganization plan. In a statement released on May 20, 2025, GOL announced said it expected to complete the restructuring process in early June 2025 and is positioned to emerge with a “strong liquidity position of approximately $900 millio…
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