Transportation

Brazilian Airline Gol Seeks $950 Million in Financing to Fund Itself in Bankruptcy

Brazilian airline is planning Chapter 11 filing in the US
Company has gone through several restructurings since pandemic

Attendees stand in line in front of a Boeing Co. aircraft operated by GOL Airlines SA during the International Brazil Air Show (IBAS) at Rio Galeao International Airport in Rio de Janeiro, Brazil, on Saturday, April 1, 2017. The event aims to bring together the aerospace supply chain, infrastructure, and commercial suppliers within the Brazilian aeronautics industry.Photographer: Dado Galdieri/Bloomberg

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By Cristiane Lucchesi, Reshmi Basu, and Vinicius Andrade

January 24, 2024 at 9:02 PM UTC

This article is for subscribers only.

Gol Linhas Aereas Inteligentes SA is seeking around $950 million to fund itself in bankruptcy, according to people with knowledge of the matter.

The Brazilian low-cost airline is in discussions with creditors to raise the debtor-in-possession financing ahead of a planned Chapter 11 filing in the US, said the people, who asked not to be identified discussing a private matter.