GOL's Chapter 11 reorganisation reflects lingering post-pandemic challenges
It is not surprising that the Brazilian airline GOL has entered into Chapter 11 bankruptcy protection, but it does reflect the lingering challenges Latin airlines face from the pandemic era.
In 2023 GOL's rival Azul completed its own out-of-court restructuring after striking deals with aircraft lessors.
The parent of LATAM Airlines Brazil, LATAM Airlines Group, entered Chapter 11 in May-2020 as government aid to airlines in other regions was secured, but largely did not materialise in Latin America.
Aside from some uncertainty regarding the future of Aerolineas Argentinas, GOL's restructuring should be the last among Latin America's larger airlines.
It is yet to be revealed how its bankruptcy will affect the aviation landscape in Brazil - but GOL understands that it needs to maintain its position in a market where demand continues to remain strong.
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