GOL Airlines enters bankruptcy law in the United States

GOL Linhas Areas Intelligences SA (GOL) He announced his voluntary admission to Financial restructuring Kiss US Bankruptcy Courtunder this process Chapter 11.

Chapter 11 is a legal process United State Used by companies for Raise capital, restructure your finances and enhance your business operations for the long termWhile they continue to function normally.

The Brazilian airline, which is an ally of its Colombian counterpart Avianca in the Abra Group, began this process with a financing commitment of $950 million, within the framework of the… Debtor in possession (DIP) With members of the same business group and many of its bondholders.

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With the support of the operation he supervises court With the additional liquidity of DIP financing, GOL-operated passenger flights, GOLLOG cargo flights, the Smiles loyalty program and other company operations continue normally.

“GOL makes great efforts to provide the best and most reliable travel experience to its customers, while improving its results and financial position.Announce Celso Ferrer, CEO of the Brazilian airline.

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The Lebanese government will use this process to restructure its short-term financial obligations to strengthen its capital structure to achieve long-term sustainability.

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This financing is subject to judicial approval, and seeks, in addition to cash generated from ongoing operations, to enhance “substantially” the Liquidity To support operations that continue normally during the financial restructuring process.

“We are confident that the measures being taken will allow GOL to continue offering the lowest prices, with exceptional travel experiences to customers, on a greater number of routes. Our employees will continue their daily activities normally, paying attention to the quality and safety of our flights. We are grateful to move forward with a commitment of new capital that will help advance our long-term strategies, including improving access and travel experience and being the choice for our customers.Ferrer added.

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However, the company will continue its commercial operations normally. In the same way, It will retain its employee fees and keep its flight access and benefits exchange channels in place..

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