GOL secures US$600 million financing for fleet transformation

GOL, Brazil’s largest domestic airline, has closed a financing of up to US$600 million with Castlelake 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 favourable 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