The board of GOL Linhas Aéreas Inteligentes (G3, São Paulo Congonhas) will ask shareholders to approve a capital increase of BRL5.34 billion to BRL19.25 billion reais (USD940 million to USD3.4 billion) by issuing at least 3.64 trillion common shares and 430.3 billion preferred shares and, at most, 13.1 trillion common shares and 1.55 trillion preferred shares, as part of its plans to exit Chapter 11 restructuring.

Following the announcement, GOL’s stock dropped 40% on the Bolso do Brasil Stock Exchange to its…

Source: ch aviation
Read more: Board of Brazil's GOL proposes capital increase