Brazil's low-cost airline Gol Linhas Aereas Inteligentes (GOL), which filed for Chapter 11 bankruptcy protection in January 2024, has secured the final instalment of its debtor-in-possession (DIP) financing. The final instalment is worth $450 million.
""We are pleased with the continued progress we are making in the court-supervised restructuring process,"" said a GOL spokesperson. ""We have now accessed the full amount of our approved DIP loan and are continuing to work with our aircraft lessors to ensure we have the right fleet for GOL for the future.""
GOL had secured its DIP financing, including a senior secured DIP facility worth up to $1bn, in March 2024. It had partnered with GLAS Americas for the DIP financing, which acted as note trustee, registrar, transfer agent, and paying agent.
GOL secures final instalment of DIP loan worth $450 million
