Gol exits bankruptcy
Brazil based airline Gol has finally exited Chapter 11 bankruptcy proceedings in the US.
With its main restructuring complete, the airline is eyeing sustainable expansion with new routes and additional planes.
“Chapter 11 was a major reset for us to get back in the air,” said Celso Ferrer, CEO of Gol.
“Now, we’re going to choose our battles. We won’t be adding flights in an unstructured way.”
It plans to boost domestic seat capacity by up to 9% this year.
Gol says it remains open to a proposed merger with Azul, which just recently entered Chapter 11 bankruptcy proceedings.
The two airlines signed an initial agreement earlier this year to explore a merger.
Gol now holds around $900 million in cash reserves
Related News Stories: Gol, Azul plan Brazil airline merger Azul files for US bankruptcy protection
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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