Gol Boeing 737 MAX 8

Gol carrier extends deadline to renegotiate debts with lessor AerCap

Brazilian airline undergoing financial restructuring has until March 25 to reach an agreement with the Irish company, which has 39 leased Boeing 737s

Brazilian carrier Gol managed to extend the deadline to negotiate leasing contracts for Boeing 737 jets leased by AerCap, according to documents sent to the New York Bankruptcy Court, where its judicial recovery process is taking place.

Now the airline has another 30 days to try to reach an agreement with the Irish lessor, which leases 39 of its aircraft.

According to the Cape Town Convention (which governs leasing agreements), there is a period of 30 days after bankruptcy for both parties to reach an agreement before the lessor can demand its aircraft back.

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Gol had filed the process on January 25th, so it will have until March 25th to reach an agreement with AerCap.

Aircraft demand on the rise

With a fleet of around 140 aircraft, Gol would only own two of them, meaning any return of its 737s could affect operations and, consequently, its revenues.

The extension comes amid strong demand for single-aisle commercial jets, driven by the recovery in passenger flights and also by Boeing and Airbus’ delay in delivering new aircraft.

Arajet Boeing 737 MAX 8 (Arajet)

At the same time, Gol has been harassed by other airlines looking for Boeing 737 pilots.

Arajet, a new low-cost carrier from the Dominican Republic, went to Brazil looking to hire pilots and mechanics for the MAX model. According to the company, which has nine 737s in its fleet, more than one hundred applications were received.


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