Brazil’s Gol Airline Appoints New CFO Amid Bankruptcy Proceedings

In a significant corporate reshuffle amid its ongoing bankruptcy proceedings, Brazilian airline Gol has announced the appointment of Eduardo Gotilla as its new Chief Financial Officer. Gotilla, who previously served as CFO of the power company Light until last January, will replace Mario Tsuwei Liao starting June 3. As part of the transition, Liao will take on the role of adviser for special projects within the airline.

This leadership change comes as Gol continues to navigate through a challenging financial landscape marked by a bankruptcy process initiated earlier this year in the United States. Alongside the announcement of the new CFO, Gol also disclosed preliminary financial results for April as part of its regular updates mandated by the bankruptcy proceedings.

For April, Gol reported a net loss of $76 million, adjusted for exchange rate fluctuations. The airline also posted net revenue of $259 million and earnings before interest, taxes, depreciation, and amortization (EBITDA) of $26 million for the month. These figures reflect the ongoing financial challenges Gol faces as it works through the complexities of bankruptcy.

Gol’s appointment of Gotilla is seen as a strategic move to strengthen its financial management and steer the company through its current economic difficulties. The airline’s leadership and stakeholders are likely looking towards Gotilla’s experience and expertise to help stabilize the company’s finances and guide it towards a more sustainable future.

Sources: AirGuide Business airguide.info, bing.com, reuters.com