Brazilian Airline Gol Files for Bankruptcy in US

Brazilian airline Gol has filed for Chapter 11 bankruptcy protection in the United States. The airline had been in financial trouble recently, but efforts to bounce back from the Covid-19 pandemic have failed.

The low-cost carrier filed for Chapter 11 bankruptcy protection on Thursday in New York, according to court filings. The bankruptcy filing allows Gol to keep operating while it seeks approval of a creditor-repayment plan, as reported by Bloomberg.

The move makes Gol the latest Latin American carrier to seek bankruptcy protection after a pandemic-related crisis, following the path of its sister company Avianca, Mexico’s Aeromexico and Chile-based LATAM Airlines.

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