Pursuits
Biggest Airline Debt Spurs Gol Asset Sale Talk: Corporate Brazil
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Gol Linhas Aereas Inteligentes SA’s $1.6 billion debt load, the most of any major airline worldwide relative to profit, is fueling speculation it will sell assets to raise cash or merge with another carrier.
Net debt equaled 25 times Gol’s earnings before interest, taxes, depreciation and amortization, or Ebitda, in the 12 months ended June 30, the highest ratio among 31 carriers with a market value above $1 billion, data compiled by Bloomberg show. That compares with a ratio of 3.4 for Santiago-based Latam Airlines Group SA, 1.3 for United Continental Holdings Inc. and