GOL Secures $235M Payout for Creditors After Boeing Agreement

GOL Linhas Aéreas Inteligentes has secured access to at least $235 million for capital distribution to general unsecured creditors following an agreement with Boeing. This development is part of the Brazilian airline’s ongoing Chapter 11 restructuring process and supports its broader objective of emerging from bankruptcy protection in 2025.

The agreement with Boeing marks a key milestone in GOL’s financial recovery plan. Alongside a previously announced tax settlement, the Boeing deal enables the release of substantial funds to creditors. According to GOL, the total distribution could rise beyond $235 million, depending on further negotiations with additional creditors.

As part of its financial restructuring, GOL intends to reduce its debt burden by converting or eliminating approximately $1.7 billion in pre-Chapter 11 funded debt and $850 million in other liabilities. These moves are designed to strengthen the airline’s financial position and enhance its long-term sustainability.

GOL also continues to modernize and expand its fleet. The airline has 91 Boeing 737 MAX aircraft on order directly from Boeing. It currently operates a fleet of 139 aircraft, including twelve 737-700s, sixty-six 737-800s, seven 737-800 freighters (BCF), and fifty-four 737-8s. GOL projects its fleet to grow to 167 aircraft by 2029, supporting both domestic and regional expansion across Latin America.

This restructuring progress, coupled with the Boeing agreement, positions GOL to stabilize its operations and regain financial strength in the years ahead.

Related News: https://suspicious-zhukovsky.67-21-117-18.plesk.page/category/air-travel-business/airline-finance/

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