SÃO PAULO, Jan. 24,
2022 /PRNewswire/ -- GOL Linhas Aéreas
Inteligentes S.A. (NYSE: GOL and B3: GOLL4), ("GOL" or
"Company"), Brazil's largest
domestic airline, has closed a financing of up to US$600 million with Castlelake LP to finance the
acquisition of new 737 MAX 8 aircraft.
"The financing for these 737 MAX aircraft initiates a new cycle
of value creation in our fleet," said Paulo Kakinoff, CEO. "With
favorable market conditions for new MAX aircraft and our strong
partnership with Boeing, as one of its largest customers, these
aircraft further advance our market leadership position."
The transaction will comprise 10 finance leases and two
sale-leasebacks. The interest rate for the finance leases is
approximately 6% p.a., which represents a reduction when compared
to operating lease costs of existing aircraft in the fleet. The
funds originated by the transaction will cover 100% of the
acquisition cost of the new aircraft and provide resources that
will be directed to obligations and return costs on GOL's 737 NG
aircraft. The Company expects to return up to 18 737 NG aircraft in
2022 and a total of 34 NG aircraft by year-end 2025, which is
expected to further reduce unit costs.
Delivery of these additional 12 Boeing 737 MAX aircraft begins
in January 2022, in line with GOL's
plan to accelerate the transformation of its fleet and have half of
its aircraft under finance leases by 2026. In 3Q21, the Company
signed agreements for 26 additional MAX 8 aircraft, and currently
has a total of 102 Boeing 737 MAX aircraft to be delivered.
"Accelerating our fleet transformation to the 737 MAX positions
us more competitively for growth through greater flexibility in our
capacity management and enables the expansion of routes and
destinations, which will ensure we are highly efficient at meeting
fluctuations in travel demand," said Celso
Ferrer, COO. "Furthermore, adding these new aircraft will
reduce the average age of GOL's fleet from 11 to seven years."
The Boeing MAX is also a key component in the Company's goal to
reach carbon neutrality by 2050, as this aircraft consumes 15% less
fuel, produces 16% fewer carbon emissions and 40% less noise, and
has a greater flight range than the NG aircraft.
Richard Lark, CFO concluded: "We
are in the advantageous position of being able to better optimize
our capital structure through diverse access to financing sources
via export credit agencies, capital markets and operating leases.
This latest aircraft transaction further establishes the financial
sustainability of our fleet management and enhances the Company's
value for all stakeholders through the increased efficiencies that
we'll achieve."
About GOL Linhas Aéreas Inteligentes S.A.
GOL is
Brazil's largest airline, leader
in the corporate and leisure segments. Since its founding in 2001,
it has been the airline with the lowest unit cost in Latin America, which has enabled the
democratization of air transportation. The Company has alliances
with American Airlines and Air France-KLM, in addition to making
available to Customers many codeshare and interline agreements,
bringing more convenience and ease of connections to any place
served by these partnerships. With the purpose of "Being First for
Everyone", GOL offers the best travel experience to its passengers,
including: the largest inventory of seats and the most legroom; the
most complete platform with internet, movies and live TV; and the
best loyalty program, SMILES. In cargo transportation, GOLLOG
delivers parcels to various regions in Brazil and abroad. The Company has a team of
15,000 highly qualified airline professionals focused on Safety,
GOL's number one value, and operates a standardized fleet of 127
Boeing 737 aircraft. GOL's shares are traded on the NYSE (GOL) and
the B3 (GOLL4). For further information, visit
www.voegol.com.br/ir.
Disclaimer
The information contained in this press
release has not been subject to any independent audit or review and
contains "forward-looking" statements, estimates and projections
that relate to future events, which are, by their nature, subject
to significant risks and uncertainties. All statements other than
statements of historical fact contained in this press release
including, without limitation, those regarding GOL's future
financial position and results of operations, strategy, plans,
objectives, goals and targets, future developments in the markets
in which GOL operates or is seeking to operate, and any statements
preceded by, followed by or that include the words "believe",
"expect", "aim", "intend", "will", "may", "project", "estimate",
"anticipate", "predict", "seek", "should" or similar words or
expressions, are forward-looking statements. The future events
referred to in these forward-looking statements involve known and
unknown risks, uncertainties, contingencies and other factors, many
of which are beyond GOL's control, that may cause actual results,
performance or events to differ materially from those expressed or
implied in these statements. These forward-looking statements are
based on numerous assumptions regarding GOL's present and future
business strategies and the environment in which GOL will operate
in the future and are not a guarantee of future performance. Such
forward-looking statements speak only as at the date on which they
are made. None of GOL or any of its affiliates, officers,
directors, employees and agents undertakes any duty or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except to
the extent required by law. None of GOL or any of its affiliates,
officers, directors, employees, professional advisors and agents
make any representation, warranty or prediction that the results
anticipated by such forward-looking statements will be achieved,
and such forward-looking statements represent, in each case, only
one of many possible scenarios and should not be viewed as the most
likely or standard scenario. Although GOL believes that the
estimates and projections in these forward-looking statements are
reasonable, they may prove materially incorrect and actual results
may materially differ. As a result, you should not rely on these
forward-looking statements.
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SOURCE GOL Linhas Aéreas Inteligentes S.A.