SÃO PAULO, April 14, 2020
/PRNewswire/ -- GOL Linhas Aéreas Inteligentes S.A. ("GOL"
or "Company"), (NYSE: GOL) (B3: GOLL4), Brazil's premier domestic airline, today
announces it reached an agreement with The Boeing Company
("Boeing") regarding the 737 MAX, which includes cash compensation
and changes to future orders and associated payment schedules.
"GOL remains fully committed to the 737 MAX as the core of its
fleet and this agreement further enhances our successful long-term
partnership with Boeing," said Paulo Kakinoff, GOL's CEO.
Since its founding nearly twenty years ago, GOL has operated a
single fleet of Boeing aircraft. The Company is one of Boeing's
largest customers for the 737 family globally and to date has
received and operated over 250 Boeing 737 aircraft. Through this
valuable partnership with Boeing, GOL has delivered the Brazilian
market one of the most successful low-cost carriers in the
world.
In the first quarter of 2019, the unexpected grounding of the
737 MAX by regulatory agencies worldwide, including the FAA, the
EASA and the ANAC, resulted in seven (7) of GOL's operational 737
MAX aircraft being grounded, and the non-delivery of 25 737 MAX
aircraft scheduled for 2019. This grounding adversely impacted
GOL's operations, growth and fleet renewal plan.
After carefully considering these impacts, the Company and
Boeing reached an agreement that provides GOL with compensation and
flexibility to implement its dynamic fleet requirements to match
supply with demand. While the details of the agreement are
confidential, it includes cash compensation and the
termination of 34 orders, reducing the Company's remaining
firm orders for 737 MAX aircraft from 129 to 95 and increasing
flexibility to meet GOL's future fleet needs.
Investor Relations
ri@voegol.com.br
www.voegol.com.br/ir
+55(11) 2128-4700
About GOL Linhas Aéreas Inteligentes S.A.
GOL
serves more than 37 million passengers annually. With Brazil's largest network, GOL offers
customers more than 750 daily flights to over 100 destinations in
Brazil and in South America, the Caribbean and the
United States. GOLLOG's cargo transportation and
logistics business serves more than 3,400 Brazilian municipalities
and more than 200 international destinations in 95 countries.
SMILES allows over 16 million registered clients to
accumulate miles and redeem tickets to more than 700 destinations
worldwide on the GOL partner network. Headquartered in São Paulo,
GOL has a team of approximately 16,000 highly skilled aviation
professionals and operates a fleet of 137 Boeing 737 aircraft,
delivering Brazil's top on-time
performance and an industry leading 19-year safety record. GOL has
invested billions of Reais in facilities, products and services and
technology to enhance the customer experience in the air and on the
ground. GOL's shares are traded on the NYSE (GOL) and the B3
(GOLL4). For further information, visit www.voegol.com.br/ir.
View original
content:http://www.prnewswire.com/news-releases/gol-reaches-deal-with-boeing-on-737-max-compensation-orders-and-payment-terms-301040613.html
SOURCE GOL Linhas Aéreas Inteligentes S.A.