GOL Secures US$600 Million in Financing for Fleet Transformation
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"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
"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
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.
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SOURCE GOL Linhas Aéreas Inteligentes S.A.