Latest news with #GolLinhasAereas
Bloomberg
a day ago
- Business
- Bloomberg
Airline Gol Makes International Push to Cut Brazil Risk After Chapter 11
By and Giovanna Bellotti Azevedo Save Brazilian airline Gol Linhas Aéreas Inteligentes SA is ramping up international expansion as part of a strategy to boost growth and reduce dependence on its home market after exiting Chapter 11, Chief Executive Officer Celso Ferrer said in an interview. The company wants a quarter of its business to come from outside the country to offset risks like currency fluctuations and fuel cost pressures, which led Gol and most of its major peers to seek protection from creditors in past few years. Azul SA, which was looking to merge with Gol, filed just last week.
Bloomberg
20-05-2025
- Business
- Bloomberg
Brazilian Airline Gol Wins Approval of Chapter 11 Restructuring
Gol Linhas Aereas Inteligentes SA said it obtained U.S. bankruptcy court approval for the Brazilian airline's restructuring plan that cuts about $1.6 billion of debt while maintaining Abra Group Limited as its largest indirect shareholder. The company expects to exit Chapter 11 in early June, it said in a statement Tuesday. Gol added the restructuring significantly reduces its debt by eliminating upwards of around $850 million in other obligations. The airline, which sought court protection in January 2024, announced a sweeping restructuring deal that November.
Bloomberg
16-05-2025
- Business
- Bloomberg
Brazil's Gol Secures $1.9 Billion to Fund Chapter 11 Exit
Gol Linhas Aereas Inteligentes SA, a Brazilian airline, secured commitments for $1.9 billion to fund its exit from Chapter 11, according to a filing, one week after announcing a capital increase. The company will sell new debt securities, with anchor investors agreeing to buy $1.25 billion, an ad hoc group of credit committing $50 million and other investors buying up $570 million. The plan also includes $30 million in new money through a rights offering. The financing plan is still subject to court approval, the documents show.
Bloomberg
09-05-2025
- Business
- Bloomberg
Airline Gol Sinks to Record Low After Capital Increase Proposal
Gol Linhas Aereas Inteligentes SA 's stock slumped to a record low on Friday after the Brazilian airline proposed a 19.2 billion reais ($3.4 billion) capital increase in its latest attempt to exit Chapter 11. The stock slumped 40% at the market open in Sao Paulo on Friday to trade at 0.71 reais, its lowest value since the company went public in 2004.
