Airline Gol announced on Friday evening that it had hired Seabury Capital to help it with a “broad review” of its capital structure, according to a statement released to the market.
Seabury, according to Gol, is one of the “leading global aviation consultancies” and will also support the company in liability management, financial transactions and other measures to “enhance liquidity”.
The company is also interested in Seabury’s work to assist it with fleet adaptation in the “short to medium term… as well as other financial obligations.”
“Seabury, in partnership with Skyworks, will continue ongoing negotiations with its aircraft lessors with the aim of achieving a global consensual restructuring of Gol’s fleet obligations,” the airline said without providing further details.
Citi last week cut its recommendation for Gol shares to “sell/high risk” and reduced its ADR target price from $3.30 to $3, assessing that the company’s operational side is good, unlike the structure of the share capital. .
Citi analysts said Gol’s latest financial statements show higher-than-expected post-conversion net debt, with fewer liquid assets after all collateral has been exercised.
Source: Terra
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