December 31, 2018

Gol pens sale and leaseback deal

Brazil-based Gol has accelerated fleet renewal and modernisation plans and has concluded sale and leaseback agreements with Castlelake and Apollo Aviation for 13 B-737NG aircraft that will be replaced with B-737max8 aircraft over the next several years.

The 13 aircraft are scheduled to be removed from the Gol fleet between 2019 and 2021.

Sale of the 13 aircraft will reduce Gol’s net debt by approximately BRR1.1 billion ($280 million), comprised of a BRR510 million reduction in lease debt and a BRR580 million increase in cash liquidity.