GOL reported that its shareholders approved all matters submitted for deliberation at the Extraordinary General Meeting and the Special Meeting of Preferred Shareholders held on May 30, 2025. With these approvals, the Company is positioned to complete its Chapter 11 process in the United States as planned in early June 2025.
“The approvals we received today represent one of the final milestones in our court-supervised process, paving the way for the completion of our restructuring in the near term,” said Celso Ferrer, GOL’s CEO. “We appreciate this vote of confidence from our investors and look forward to officially closing this process and beginning our next phase as a stronger, more competitive airline.”
After the General Meeting and the Special Meeting, the Company's shareholders approved:
- The increase in share capital through the capitalization of certain credits against the Company, in the minimum amount of R$5.343.282.140,17 and a maximum of R$19.246.127.062,09, as described in item “i” of the management’s proposal for the General Meeting, through the issuance of at least 3.639.637.884.586 common shares and 430.338.591.369 preferred shares, and at most 13.109.720.083.876 common shares and 1.550.049.387.611 preferred shares, all ed, book-entry and with no par value, at the issuance price of R$0,0002857142 per common share and R$0,01 (one cent of a real) per preferred share (“Capital Increase”);
- The amendment of §7 of Article 50 of the Company's Bylaws, as well as the consequent consolidation of the Bylaws;
- Authorization for the Company's management to take the measures and perform the acts necessary to implement the resolutions taken at the General Meeting.
Pursuant to the shareholders' approval, on the effective date set forth in the Chapter 11 plan, the Company's Board of Directors will the value, in national currency, of the credits to be capitalized in the Capital Increase and, consequently, will determine the effective value of the Capital Increase and the effective number of shares to be issued within the scope of the Capital Increase.
Additional information about the Capital Increase, including the procedure for exercising the preemptive right to subscribe for shares, will be duly disclosed by the Company, in accordance with applicable laws and regulations.
Advisors
As part of its restructuring efforts, GOL is working with Milbank LLP as legal advisor, Seabury Securities, LLC as investment bank, lead placement agent for the US$1,9 billion exit notes, and financial advisor, BNP Paribas Securities Corp. as t bookrunner (B&D) and placement agent for the exit notes, and AlixPartners, LLP as financial advisor. In addition, Lefosse Advogados is serving as GOL’s Brazilian legal advisor.
Via GOL
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