GOL Linhas Aéreas Inteligentes (G3, São Paulo Congonhas) and its parent holding company Abra Group have announced a support agreement that will enable the Brazilian airline, currently undergoing Chapter 11 financial reorganisation in the United States, to reduce its debt by approximately USD2.5 billion. The reduction will be achieved by converting a substantial portion of the debt into equity, extinguishing other parts, and replacing some debt with new, more favourable terms.

Owing to its Chapter…

Source: ch aviation
Read more: Brazil’s GOL, Abra enter support plan to cut .5bn in debt