Gol Linhas Aereas Inteligentes (Sao Paulo) has agreed to enter into several strategic transactions with the Constantino Family, Gol’s controlling shareholder, and Delta Air Lines (Atlanta) to strengthen the airlines’ strategic alliance and enhance Gol’s financial position and liquidity.
The airline continued;
As part of the agreement, Gol’s controlling shareholder will invest up to $90 million (US) in newly issued preferred shares of Gol and Delta will invest up to $56 million in newly issued preferred shares of Gol. Delta also will guarantee a term loan to be entered into by Gol with third party lenders of up to $300 million. In connection with these transactions, Gol and Delta will extend their commercial cooperation arrangements.
The consummation of each of the strategic transactions is subject to the execution and delivery of definitive documentation and customary closing conditions, including receipt of required regulatory approvals.
Copyright Photo: Rodrigo Cozzato/AirlinersGallery.com. Gol’s Boeing 737-76N PR-GOH (msn 32440) departs from Sao Paulo (Guarulhos).