US Edition
GOL Receives U.S. Court Approval for Plan of Reorganization
- On May 20, 2025, the U.S. Bankruptcy Court confirmed GOL Linhas Aéreas Inteligentes' Chapter 11 reorganization plan, allowing the airline to proceed with its restructuring process in the United States.
- GOL's restructuring process began in January 2024 to address significant debt and improve financial stability amid industry challenges.
- The plan converts or extinguishes about $1.6 billion in funded debt and $850 million in obligations, supported by $1.9 billion in exit financing.
- GOL anticipates having nearly $900 million in available liquidity and plans to reduce its leverage ratio from 5.4 times at exit to 2.9 times by the end of 2027.
- GOL aims to complete the process by early June 2025, strengthening its competitive position and balance sheet while preparing for a shareholders' meeting on May 30.
39 Articles
39 Articles
The notable Brazilian airline Gol has made a crucial breakthrough on its path to financial stability.According to the original report, an American court has given the green light to its restructuring plan under Chapter 11.This step is vital for the company, which has been engaged in bankruptcy proceedings since the beginning of 2024.The horizon for JuneWith judicial approval in hand, Gol now has its sights set on the near future.The company has …
GOL Exits Bankruptcy as Azul's Financial Crisis Threatens Potential Merger
GOL Linhas Aéreas Inteligentes received U.S. Bankruptcy Court approval for its Chapter 11 restructuring plan on May 20, 2025. The Brazilian airline expects to emerge from bankruptcy by June 6, ending a process that began in January 2024. The restructuring will significantly reduce GOL’s debt burden by converting or eliminating approximately $1.6 billion of pre-bankruptcy […]
Brazil’s GOL secures US Court approval to exit Chapter 11
Brazilian low-cost airline GOL Linhas Aéreas Inteligentes (GOL) is preparing to exit Chapter 11 restructuring with a “strengthened competitive position” after the United States Bankruptcy Court approved its reorganization plan. In a statement released on May 20, 2025, GOL announced said it expected to complete the restructuring process in early June 2025 and is positioned to emerge with a “strong liquidity position of approximately $900 millio…
According to the Value, the Gol received a discount from the New York Court for its financial reorganisation plan, providing space for the company to leave its restructuring in June
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