Gol (GOLL4) has R$1.3 billion of outstanding business debt

a Goal (GOLL4) had a total of US$269 million, or approximately R$1.3 billion, of outstanding business debts on January 25, the date the petition was filed for the judicial recovery process in the United States. The amount appears in documents filed with the North American court.

Most of this Dion Jules Related to payroll tax liabilities, such as INSS, FGTS, and Service Time Guarantee Fund. This portion, at the date of filing of the petition, was equivalent to US$174 million. Regarding workers' compensation, such as night shift and hazard pay, the bill reached US$25 million.

According to Gul, these amounts indicate the debts incurred by the airline during the pandemic. “Brazil, compared to countries in the region, especially Europe and the United States, was the only country that did not receive refinancing assistance from the government during this period,” the company said in a note.

The company also indicates that it did not carry out mass layoffs during the period, and that it “did not stop paying taxes on the salaries of its employees, as it has paid these contributions in installments to date.”

Goal's debt reaches R$20.1 billion in 4Q23

In a related fact issued on the last day (29),… Goal (GOLL4) reported that it ended the fourth quarter of 2023 with a debt of R$20.176 billion, practically stable compared to the previous quarter, when the index recorded R$20.227 billion (down 0.25%).

However, according to Goal, total assets, according to unaudited data, amounted to R$16.832 billion in the period in question, and net equity was negative at R$23.350 billion.

On the 25th of this month, the airline officially filed for clawback in the United States, in a proceeding called Chapter 11. The next day, a New York court authorized the request.

practical Judicial ghoul recovery This project is initiated in the USA and begins with a financing commitment of US$950 million, debtor-in-possession (“DIP”) method by members of the bondholder group allocated to Abra – the holding company that controls Gol – and other Abra bondholders.