Brazil’s GOL Exits Chapter 11 With $1.9B Financing, New Ownership
GOL Linhas Aéreas Inteligentes has officially emerged from Chapter 11 bankruptcy in the U.S., securing USD 1.9 billion in exit financing, maintaining around USD 900 million in liquidity, and fully repaying its debtor-in-possession financing, the company announced.
As part of its financial restructuring, Abra Group now controls approximately 80% of GOL’s capital. Abra Group also owns Avianca Airlines and Wamos Air. GOL’s Board of Directors approved a capital increase totaling BRL 12.03 billion (USD 2.16 billion) through credit capitalization, issuing over 9.1 trillion common and preferred shares. With the completion of the bankruptcy process, GOL dissolved its Special Independent Committee.
CEO Celso Ferrer highlighted that the airline has streamlined its fleet, optimized costs, redesigned its network, and improved operational efficiency. Backed by strong customer demand and a five-year growth plan, GOL plans further investment in customer experience and new routes.
GOL currently operates 138 aircraft, including twelve Boeing 737-700s, sixty-four Boeing 737-800s, fifty-five Boeing 737-8s, and seven Boeing 737-800(BCF) freighters. The carrier expects to add five more Boeing 737-8s in 2025 and holds outstanding orders for fifty-three Boeing 737-8s and twenty-five Boeing 737-10s. GOL aims to return its full fleet to service by early 2026.
GOL becomes Brazil’s second major carrier to successfully exit Chapter 11 in recent years, following LATAM Airlines Brasil in 2022. Meanwhile, Azul Linhas Aéreas Brasileiras filed for Chapter 11 protection in May 2025.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com