GOL Linhas Aereas Inteligentes has agreed to enter into several strategic transactions with the Constantino Family, GOL’s controlling shareholder, and Delta Air Lines to strengthen the airlines’ strategic alliance and enhance GOL’s financial position and liquidity.
As part of the agreement, GOL’s controlling shareholder will invest up to US$90m in newly issued preferred shares of GOL and Delta will invest up to US$56m in newly issued preferred shares of GOL. Delta also will guarantee a term loan to be entered into by GOL with third party lenders of up to US$300m. In connection with these transactions, GOL and Delta will extend their commercial cooperation arrangements.
The consummation of each of the strategic transactions is subject to the execution and delivery of definitive documentation and customary closing conditions, including receipt of required regulatory approvals.
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