Brazil carrier Gol files for Chapter 11 bankruptcy protection

Credit: REUTERS/Nacho Doce

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SAO PAULO, Jan 25 (Reuters) - Brazilian airline Gol said on Thursday it is filing for Chapter 11 bankruptcy protection in the United States, with a $950 million financial commitment from its controlling shareholder Abra Group.

Abra also controls Colombian carrier Avianca, though the two airlines operate separately.

The move makes Gol the latest Latin American carrier to seek bankruptcy protection after a pandemic-related crisis, following the path of its sister company Avianca, Mexico's Aeromexico and Chile-based LATAM Airlines.

The decision was somewhat expected by market participants after media reports earlier this month said Gol was considering the move, even as the company maintained it sought a "consensual" restructuring in discussion with creditors. (Reporting by Andre Romani and Gabriel Araujo; Editing by Kylie Madry) ((; 11 991314109;11 56447500;)) Keywords: GOL BANKRUPTCY/ (UPDATE 1)

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