GOL Linhas Aéreas Inteligentes (G3, São Paulo Congonhas) has requested the United States bankruptcy court of the Southern District of New York to grant it an additional 150 days (i.e. through May 19, 2025) to file its Chapter 11 restructuring plan.

In a filing seen by ch-aviation, the carrier said that this further extension will provide the necessary opportunity “to broker and propose a consensual plan of reorganisation and solicit acceptances thereof."

Since filing for bankruptcy protection in January 2024, the Brazilian airline has secured access to additional liquidity, has finalised negotiations with lessors covering 139 aircraft leases and 58 engines, all the while refined its long-term business plan. It has also engaged its largest shareholder, Abra Group, over the terms of the plan, which would deleverage the airline’s balance sheet.

“With the resolution of these issues, the debtors will be well-positioned to begin raising the necessary exit capital required by their business plan and engaging with their other creditor constituencies,” it said.