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LatinNews Daily - 21 May 2025
In brief: Brazilian airline Gol seals debt restructuring plan
*The Brazilian airline Gol has announced that a US bankruptcy court has approved a restructuring plan that will cut approximately US$1.6bn in debts accumulated prior to the onset of bankruptcy proceedings in January 2024, and approximately US$800m in other debts. Among other things, the restructuring plan includes a US$1bn debtor in possession (DIP) agreement that will boost Gol’s liquidity, the restructuring of debt owed to Brazilian banks, and an agreement with the Brazilian authorities to reduce unpaid government taxes. The company is now due to exit Chapter 11 protection under the US Bankruptcy Code in June this year.
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