Reported 3 days ago
Brazil's government has reached agreements with airlines Gol and Azul to settle tax obligations totaling 7.5 billion reais ($1.22 billion), offering substantial discounts and installment payment options. This move aims to alleviate the financial strain on these carriers, which have struggled with high debt following the COVID-19 pandemic—Gol is under Chapter 11 bankruptcy protection, while Azul has recently negotiated new financing agreements. The settlements are viewed as a crucial step towards resolving pandemic-related tax issues and revitalizing the aviation industry.
Source: YAHOO