GOL Linhas Aéreas, a domestic airline in Brazil, has announced the next milestone in its financial restructuring process initiated in the United States Bankruptcy Court, disclosing its new 5-Year Financial Plan.

“We are pleased to reach another important milestone in our financial restructuring process,” said Celso Ferrer, Chief Executive Officer.

“Since the start of this process, GOL has continued operating successfully in the normal course and demonstrated strong execution of our commercial strategy while maintaining a disciplined approach to managing costs.

“As we have previously communicated, we have successfully renegotiated agreements for a substantial majority of our aircraft with our lessors and are following our strategic plan to invest in our engines and increase the size of the operating fleet and capacity, while maintaining high productivity and operational efficiency.

“The new GOL 5-Year Plan we disclosed … serves as a clear roadmap for our next phase, during which we will continue to advance our long-term strategies of improving the travel experience, including affordability of travel and customer choice to expand our position as a leading airline in Latin America.

“With a clear plan in place, we can begin preparing for the competitive exit financing process we will begin shortly as a means of ensuring GOL has the strongest possible financial foundation upon our emergence from Chapter 11.”Subscribe to the FINN weekly newsletter

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