GOL Linhas Aéreas Inteligentes (G3, Sao Paulo Congonhas) announced on January 25 that it is voluntarily filing for Chapter 11 in the United States Bankruptcy Court for the Southern District of New York. Commercial flight operations are still continuing, however.

The Brazilian budget carrier is entering the legal process with a financing commitment for USD950 million in new debtor-in-possession financing from members of the Ad Hoc Group of Abra bondholders, as well as other Abra bondholders. GOL is a member of the…

Source: ch aviation
Read more: Brazil's GOL files for US Chapter 11 bankruptcy protection