Gol secures credit guarantee for engine

financing
Hugh Davies
03/01/2024

Brazilian carrier Gol Linhas Aereas has secured access to a credit insurance policy to obtain third-party credit lines of up to $209 million for
financing related to CFM56-7B engine maintenance powering its fleet of Boeing 737-700/800s.
The newly developed guarantee is structured with the support of Brazil’s Executive Secretariat of the Chamber of Foreign Trade and backed by
the state’s export guarantee fund.
Airfinance Journal's Fleet Tracker shows the carrier operates 100 737 aircraft equipped with CFM56-7B engines.
As previously reported, Gol engaged Seabury Capital late last year to assist the carrier with a review of its capital structure.

Seabury in conjunction with Skyworks will also negotiate with Gol’s lessors to achieve a “comprehensive consensual restructuring of Gol’s feet
obligations”.
The carrier concluded a debt restructuring earlier in 2023 with approximately BRL100 million ($20 million) of debentures to be amortised in
September 2023 and approximately BRL900 million in 30 instalments between January 2024 and June 2026.

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