Gol plans to reduce the debt of 1 billion RB through the exchange of aircraft – 26/12/2018 – Market



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The airline Gol announced Wednesday (26) the return of 13 Boeing 737 NG, which should enable him to reduce its debt of $ 1.1 billion.

"The monetization of our 737-800 GN allows Gol to accelerate the reduction of debt on its balance sheet," said Richard Lark, vice president of finance for the company.

With this transaction, Gol expects a debt reduction of R $ 510 million.

The contract was with Castlelake and Apollo Aviation.

The aircraft will be withdrawn from the fleet on a scheduled basis between 2019 and 2021. According to the "Gol will maintain its capability discipline and this transaction enhances the flexibility of the fleet plan," said Vice President at the Boeing 737 MAX-8 planning.

Goal, Celso Ferrer. 19659002] According to the company, the return of planes will not affect its operation, as there will be the arrival of the aircraft 737 MAX-8 from its order with Boeing and recent operating leases of 11,737 MAX-8.

"O 737 MAX will be the backbone of the Gol fleet, increasing the average number of seats per plane and now the cost per seat at very low levels."

Gol believes that By 2023, more than 40% of the fleet will be comprised of 737 MAXs, and over the next five years, the transition to this new equipment is expected to increase productivity by 24% and reduce fuel consumption.

"In addition to reducing fuel consumption, the increased reach of the 737 MAX Elle will further diversify its air network and operate international flights to the United States and Mexico," the document says.

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