Reported 5 months ago
Brazilian airline Gol reveals its strategy to exit Chapter 11 bankruptcy with a $1.5 billion capital injection involving new shares issuance and $2 billion debt refinancing. The plan aims to enhance the airline's fleet, operational margins, and expects to reach pre-pandemic capacity by 2026. Despite warned share devaluation upon emergence from bankruptcy, Gol will assess financing proposals through a competitive process starting in June, with no guarantee of successful transactions. Additionally, Gol plans fleet expansion and profit improvement to compete in Brazil's domestic aviation market.
Source: YAHOO