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GOL Linhas Aereas Inteligentes SA ( (GOLLQ) ) has issued an announcement.
GOL Linhas Aéreas Inteligentes S.A. is involved in a Chapter 11 proceeding in the Southern District of New York to address its financial challenges. The company is negotiating a settlement with the Brazilian government to resolve its tax liabilities, which is part of a larger debt restructuring plan. This includes a significant debt reduction effort where the Federal Government may forgive approximately R$ 4.5 billion of GOL’s R$ 6 billion debt. Despite these developments, the company emphasizes that a comprehensive solution to its financial difficulties requires a broader restructuring of its debt. The anticipated restructuring involves a substantial dilution of existing shares, impacting stakeholders.
More about GOL Linhas Aereas Inteligentes SA
GOL Linhas Aéreas Inteligentes S.A., part of the Abra Group, is a leading airline in Brazil known for its low unit costs in Latin America since its inception in 2001. The company has strategic alliances with American Airlines and Air France-KLM, facilitating extensive connectivity through over 60 codeshare and interline agreements. GOL also operates the Smiles loyalty program and GOLLOG for cargo transportation, employing 13,900 professionals and maintaining a fleet of 138 Boeing 737 aircraft. Its shares are traded on B3 under the symbol GOLL4.
YTD Price Performance: -88.15%
Average Trading Volume: 6,525
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $89.93M
For an in-depth examination of GOLLQ stock, go to TipRanks’ Stock Analysis page.
