Market Loses Faith in Brazilian Airline Merger as Debt Soars

Market Loses Faith in Brazilian Airline Merger as Debt Soars

Shares of Brazilian airlines Azul and Gol tumbled on Monday as financial instability threatens their proposed merger. Azul’s stock fell 1.8% to R$1.09 while Gol dropped more sharply by 6.2% to R$0.91. Market analysts point to mounting concerns about Azul’s financial health and possible bankruptcy proceedings in the United States. Azul CEO John Rodgerson recently […]

Struggling airline restructures debt, plans to exit bankruptcy

Shares of the airline immediately spiked by more than 8% upon the news.

Brazil's GOL secures $1.9bn funding to exit Chapter 11

GOL Linhas Aéreas Inteligentes (G3, São Paulo Congonhas) has finalised the USD1.9 billion financing package necessary to exit Chapter 11 restructuring, with new investors providing more funds than the carrier previously anticipated. According to the airline's stock market disclosure dated May 16, the package will comprise USD570 million from new investors. GOL previously planned to obtain USD495.5 million from new investors but decided to adjust…