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Brazilian Airline Gol Files for Bankruptcy in US
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Brazilian airline Gol has filed for Chapter 11 bankruptcy protection in the United States. The airline had been in financial trouble recently, but efforts to bounce back from the Covid-19 pandemic have failed.
The low-cost carrier filed for Chapter 11 bankruptcy protection on Thursday in New York, according to court filings. The bankruptcy filing allows Gol to keep operating while it seeks approval of a creditor-repayment plan, as reported by Bloomberg.
The move makes Gol the latest Latin American carrier to seek bankruptcy protection after a pandemic-related crisis, following the path of its sister company Avianca, Mexico’s Aeromexico and Chile-based LATAM Airlines.
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