Brazilian airline GOL Linhas Aéreas Inteligentes (GOL) has announced the successful completion of its financial restructuring under Chapter 11 of the U.S. Bankruptcy Code, emerging from the process overseen by the United States Bankruptcy Court for the Southern District of New York.
With a reinforced financial foundation, including US$1.9 billion in exit financing and a liquidity position of approximately US$900 million, GOL is poised for sustainable growth. The airline has significantly reduced its leverage to 5.4x, with projections to lower it below 3x by the end of 2027. These improvements enable GOL to invest further in customer experience and network development.
GOL continues to excel with its Smiles loyalty programme, which reached 24 million customers and recorded a historic revenue of 5.3 billion reais in 2024. Operationally, it led Brazil in on-time performance, transporting 30 million passengers across 81 destinations. The airline's network is bolstered by strategic global partnerships and strong domestic hub presence.
Support from the Abra Group, a major Latin American airline group, brings additional expertise and financial backing. Cooperation with other Abra airlines enhances connectivity and frequent flyer benefits. GOLLOG, the company's logistics arm, achieved over R$1 billion in annual revenue for the first time, reflecting a 32% growth year-on-year and holding a 36% market share.
Additionally, GOL is progressing with its fleet renewal, having overhauled more than 50 Boeing 737 engines in 2024 and expecting to have all aircraft operational by early 2026. The delivery of five new Boeing 737 MAX aircraft is anticipated in 2025, supporting its ongoing capacity expansion.
