Gol Linhas Aéreas Inteligentes S.A. has announced a further acceleration of its fleet renewal and modernization plan and the execution of sale and leaseback agreements, with Castlelake and Apollo Aviation, for 13 Boeing 737 Next Generation (NG) aircraft in the Gol fleet that will be replaced with Boeing 737 MAX 8 aircraft over the next few years.
Due to favorable market conditions for transactions with its Boeing 737 NGs, Gol has accelerated its fleet renewal and modernization plan with sale and leaseback transactions of 13 Boeing 737-800 NG aircraft that will be removed from the fleet during 2019-2021.
The accelerated fleet renewal will not alter Gol’s planned capacity, as these aircraft will be returned simultaneously with the receipt of new Boeing 737 MAX 8 aircraft under its order with Boeing and recent direct operating leases of 11 737 MAX8 aircraft. The accelerated return of NGs will allow Gol to finish 2019 and 2018 with 24 and 34 737 MAX 8s in its operating fleet, respectively.
The 737 MAX will be the backbone of Gol’s fleet, increasing average seat per aircraft and bringing incremental cost per seat to very low levels.
By 2023, over 40% of the fleet with be comprised of 737 MAXs and over the next five years the transition to the MAX is expected to increase productivity by over 20% and reduce fuel consumption.
Compared to Gol’s 737-800 NG aircraft, the 737 MAX 8 has decreased fuel consumption on GOL’s routes by approximately 15%.