GOL Delays $1.9B Financing Deadline Over Tariff Concerns

GOL Linhas Aéreas Inteligentes has delayed the deadline for binding bids on its USD1.9 billion exit financing package, citing global market disruptions caused by newly announced tariffs from U.S. President Donald Trump. The original deadline of April 19 has been pushed to May 15 to give investors time to assess the implications of the economic uncertainty.

In a statement, GOL said the extension was necessary “to allow time for the capital markets to absorb the implications of the Trump tariffs.” The financing is part of the airline’s restructuring strategy as it prepares to exit bankruptcy later this year.

The USD1.9 billion in exit financing is intended to repay existing obligations, cover transaction-related expenses, and provide working capital to support GOL’s post-bankruptcy operations. The airline filed for Chapter 11 bankruptcy protection in early 2024 amid financial pressure from mounting debt and volatile fuel prices.

Investment firms Castlelake and Elliott Investment Management are leading the group of potential investors. Seabury Securities is serving as GOL’s financial advisor and investment bank throughout the restructuring and financing process.

GOL, one of Brazil’s largest carriers, is seeking to emerge from bankruptcy with a leaner capital structure and renewed operational focus. The financing delay comes at a critical time as global capital markets react to shifting trade dynamics and policy changes, which are now influencing investor sentiment toward emerging market investments, including those in the airline industry.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com