GOL Linhas Aereas Inteligentes, the biggest low-cost and best-fare airline based in Latin America, recently announced that it has agreed to participate in several strategic transactions with Delta Air Lines and the Constantino family, the controlling shareholder of GOL.
This move serves to improve the strategic alliance between GOL and Delta Air Lines. It also improves the liquidity and financial position of GOL. As the agreement is fulfilled, Delta and GOL will continue their mutual commercial cooperation agreements that were finalized earlier.
According to the agreement, the controlling shareholder of GOL will invest approximately $90 million of newly issued preferred shares of GOL and Delta. In turn, Delta will invest approximately $56 million of newly issued preferred shares of GOL. Additionally, Delta has ensured a term loan amounting to $300 million between GOL and third-party lenders.
Fulfilling all of these strategic transactions will continue to be subject to the delivery and execution of definitive documentation as well as customary closing conditions. This includes the receipt of required approvals for regulations.
GOL provides approximately 900 flights every day to 73 destinations, including 17 in the Caribbean, the U.S. and South America. It has a modern Boeing 737-700 as well as 737-800 Next Generation aircraft fleet, which is the safest, most economical and most efficient plane of its kind.
- Movile gets USD$400 million additional iFood funding form Naspers, Innova Capital
- GE Power selected by Kerui Metodo Construção e Montagem S.A to provide tailor-made e-house solution
- Paraguay Bio Green Forum: Inspiring stories and advice
- Antoni Lelo De Larrea Venture Partners held a first close of $73 million
- 1,000 Yucatán businesses schedule black-out protest against tariff hike
- Guatemalan businessman Fernando Jarquín implements vision for development
- Emiliano Salinas cuts ties with NXIVM
- Fernando Jarquin, Guatemala’s Pharmaceutical Innovator and Entrepreneur, Talks Business
- New Colombia Resources says Sannabis test was successful
- Grupo Exito aims to help support Colombia