Brazilian airline Gol’s fall into Chapter 11 restructuring caps off a spectacular run of failures for Latin American carriers, showing the industry is still struggling with the pandemic’s lingering financial impact years after the virus virtually disappeared from everyday life.
Gol Linhas Aereas Inteligentes SA said on Thursday that it plans to keep operating while it goes through a bankruptcy that includes restructuring near-term financial obligations, such as renegotiating contracts with lessors. The company — whose name directly translates as Gol Smart Airlines — said it will emerge from the process with the “correct” capital structure.
