CVM questioned reports that American United and American Airlines and European Air France-KLM, IAG and Lufthansa were in conversations for a company contribution
THE Objective clarified on Thursday 23rd, through a statement to the market, that it has not entered into an agreement investment or similar instrument with a third party (airline or otherwise) relating to a capital contribution.
The positioning of GOL is in response to Securities Commission (CVM)who questioned the news that the American United AND American Airlinesas well as the European Air France-KlmInternational Airlines Group (IAG) e Lufthansa Groupthey would be in conversations for potential resources in the company.
GOL reiterated that it plans to raise up to $1.85 billion in new capital in the form of a line of credit Chapter 11 Procedure Excit (measured in US equivalent to judicial recovery) To pay off-possession financing (DIP, a secured credit modality for companies in court recovery) and provide additional liquidity to support the future airline strategy.
“While this capital is expected to be captured primarily in the form of long-term senior debt, under the Restructuring Plan Support Agreement, GOL could raise up to $330 million through the issuance of new shares,” says the airline in the text.
The discussion comes at a time when GOL is moving towards a merger with Blue. The two signed on January 15th Memorandum of understanding as a first step towards this joining of forces. The agreement is non-binding and ABRA, the GOL controller, said it is still focused on completing the remaining phases of its Chapter 11 proceedings.
According to the memorandum, the transaction would be subject to the consummation of GOL reorganization planas well as other conditions and approvals, in particular that of Administrative Council for Economic Defense (CADE). If the transaction is consummated, the two companies should independently maintain their brands and operating certificates.
Source: Terra
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