Business

Brazil's airline Gol pays $300 million loan guaranteed by Delta

If Gol had not paid this loan, Delta would have to honor it, adding a burden to the U.S. carrier which is also struggling with the coronavirus crisis

Brazilian airline Gol operating its Boeing 737 in Congonhas Airport
Brazilian airline Gol operating its Boeing 737 in Congonhas Airport, Sao Paulo, Brazil. Photo: Thiago B Trevisan/Shutterstock
  • Gol added that after this payment, the company’s debt maturity will be around four years;
  • Gol ended August with a cash and receivables position of BRL 2.1 billion.

Brazilian airline Gol Linhas Aéreas said on Tuesday it paid a $300 million debt guaranteed by U.S. carrier Delta Air Lines, according to a securities filing.

Gol added that after this payment, the company’s debt maturity will be around four years. “Going forward, we have no significant debt maturities until 2024,” said Chief Financial Officer Richard Lark.

If Gol had not paid this loan, Delta would have to honor it, adding a burden to the U.S. carrier which is also struggling with the coronavirus crisis.

Gol ended August with a cash and receivables position of BRL 2.1 billion reais after this debt payment, it said.

Get the best insights about Latin America market in your inbox