GOL Linhas Aéreas Inteligentes (G3, São Paulo Congonhas) has officially emerged from its Chapter 11 bankruptcy process in the United States, securing USD1.9 billion in exit financing, holding approximately USD900 million in liquidity, and repaying its debtor-in-possession financing in full, the company announced.
As part of the restructuring, Abra Group now controls around 80% of GOL’s capital. The group also owns avianca airlines and Wamos Air. In addition, the Board of Directors authorised a capital increase totalling BRL12.03 billion (USD2.16 billion) through the capitalisation of credits, which will result in the issue of over 9.1 trillion common and preferred shares.
Furthermore, GOL has dissolved its Special Independent Committee, as its Chapter 11 mandate has been fulfilled.
“We have rationalised our fleet, optimised our costs, redesigned our network, and enhanced our operational focus, and driven management efficiencies which - supported by solid customer preference, robust demand, and a five-year plan that will bring more investments in customer experience as well as new routes - will allow us to continue to drive success,” the company’s chief executive, Celso Ferrer, said in a statement.
The company currently operates a fleet of 138 aircraft: twelve B737-700s, sixty-four B737-800s, fifty-five B737-8s, and seven B737-800(BCF)s. It expects to add five more B737-8s this year. It has an outstanding order for fifty-three B737-8s and twenty-five B737-10s. The carrier aims to have all aircraft back in the air by the first quarter of 2026.
GOL is the second Brazilian carrier to emerge from Chapter 11 procedures in the last five years, after LATAM Airlines Brasil, via its parent entity LATAM Airlines Group, did it in November 2022. Azul Linhas Aéreas Brasileiras filed for its own Chapter 11 process in May 2025.
