GOL bankruptcy exit plan includes $1.5bn capital injection to pay off DIP loan

Brazilian airline GOL Linhas Aereas Inteligentes plans to raise $1.5bn in equity to pay off its debtor-in-possession (DIP) financing and refinancing of $2bn of its senior secured debt, it said in its exit financing scenario filing, published on May 27, 2024. The capital injection will see $1.3bn used to pay off its DIP facility that was secured following its voluntary filing for Chapter 11 in the US Bankruptcy Court for the Southern District of New York in January 2024. The airline added: “Unsecured debt eliminated and prepetition claims will be equitized or receive such other treatment as will be determined