Gol Boeing 737-700

Gol carrier to deliver up to 16 Boeing 737s to lessors – report

Agreement with creditors would be close to being finalized and presented to the New York Bankruptcy Court, where the Brazilian carrier filed a request for financial restructuring

Gol Linhas Aéreas has reportedly reached an agreement with the lessors of its aircraft, which should be taken to the New York Bankruptcy Court, where the financial restructuring process opened in January is taking place.

According to Valor Econômico, the Brazilian carrier must return eight to 16 Boeing 737 jets to lessors, aircraft that are mostly out of operation.

The outlet did not clarify which variants are involved in the deal, but it is understood that they are 737 Next Generation, which are in the process of being withdrawn from service.

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Among the creditors who have already accepted new financial conditions are the lessors Avelo and AerCap, the latter owner of 39 of its aircraft.

Gol currently has a fleet of 138 aircraft, all Boeing 737s. Of these, 46 are the MAX 8 model, more modern and efficient, and 14 are the 737-700 variant, with lower capacity.

Gol Boeing 737 MAX 8 (Colin Cooke Photo/CC)

Therefore, if the airline returns 16 planes it will have a fleet reduction of just over 10%.

Gol, however, plans to receive 14 new 737 MAX in 2024, a plan that is delayed due to problems on Boeing’s assembly lines.

Last installment of the DIP loan

This week, the US Court released the last installment of the DIP loan made by Grupo Abra, which controls Gol. There is US$450 million that can be used to keep the airline operating.

In total, Gol received US$1 billion from its main shareholders. The company’s accumulated debts, however, reach around US$4 billion.


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