The parties have agreed to purchase up to US$1.25 billion of the US$1.9 billion in debt instruments to be issued as part of the process, which will be used to repay obligations under a debtor-in-possession financing.

Brazilian airline Gol said Monday it has entered into an exit financing commitment with certain unnamed investors as it considers exiting Chapter 11 bankruptcy.

Under the agreement, the parties have agreed to purchase up to $1.25 billion of the $1.9 billion in debt instruments to be issued as part of the process, which will be used to repay obligations under a debtor-in-possession financing.

The company will also use the proceeds to "pay transaction costs and provide working capital and financing for the company's operational activities following the conclusion of the Chapter 11 proceeding," as judicial recovery is known in the United States.

Gol stated that, in addition to these financing options, it is evaluating "viable and competitive alternative transactions," which include "both the contracting or issuance of new debt by the company, as well as possible direct or indirect equity investments."

In November 2024, Gol reached an agreement with Abra, its holding company, and some of its subsidiaries and creditors, securing at least US$950 million from its parent company to exit Chapter 11 bankruptcy proceedings.