Delta Air Lines & GOL in US$446 million stock and loan agreement

After GOL preferred shares have fallen more than 20% in the last two weeks to be down more than 50% for 2015 as the fall of the real has driven up fuel and leasing costs, GOL’s controlling shareholder, Brazilian investment fund FIP Volluto, has announced it will buy up to US$90 million and Delta Air Lines up to US$56 million of new GOL preferred stock. The terms of the share offering will be announced on July 14. Of the up to US$146 million new shares to be sold, Volluto will buy 61% and Delta the rest. In addition Delta will