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Sat, Feb 17, 2024

Gol to Assess LATAM

Carrier Alleges Vulturing After Chapter 11 Announcement

Bankrupt Brazilian carrier Gol has obtained approval via the US courts to prove LATAM Airlines activities in the immediate wake of the former's bankruptcy announcement, believing the Chilean rival sought to 'poach' pilots, pax, and planes in the hubbub.

LATAM allegedly made the best of the announcement, reaching out to lessors of Gol aircraft to feel out an acquisition of the airline's Boeing 737 and MAX planes - that stuck out to Gol, since LATAM is an Airbus operator, and hasn't expressed interest in Boeing for years. Job listings for LATAM in Brazil reached out to Boeing-typed pilots, too, and Gol thinks it was all part of a multi-pronged scheme to hoover up as much of the bankrupt carrier as possible.

LATAM attorney Kyle Ortiz acknowledged one missive sent to aircraft owners of Gol jets, saying the outreach was merely the result of a carrier in need of aircraft no matter the make. "We need airplanes, if we're looking for 737s, that's where we have to go." 

Gol has remained on life support thanks to a bridge loan of $950 million, of which $350 million has been already approved. The loan sports a 15% interest rate, but the carrier said it was "desperately needed" to maintain their operations and preserve relationships with the owners of its fleet. 

FMI: www.voegol.com.br

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