{"id":759,"date":"2016-02-29T04:20:08","date_gmt":"2016-02-29T10:20:08","guid":{"rendered":"http:\/\/planesintheair.com\/?p=759"},"modified":"2016-02-29T04:20:08","modified_gmt":"2016-02-29T10:20:08","slug":"gol-airline-brazil-receives-251-million-cash-injection","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=759","title":{"rendered":"Gol Airline of Brazil receives $251 million cash injection"},"content":{"rendered":"

Gol Linhas Aereas Inteligentes SA, Brazil’s second largest airline, stated it\u00a0will\u00a0receive\u00a0a cash infusion of up to 1 billion reais ($251 million) as it\u00a0cuts its routes and fleet in an effort to cut\u00a0costs due to\u00a0weak demand.\u00a0The airline will\u00a0cut flights by 6 percent this year\u00a0and eliminate\u00a0service to 7\u00a0cities. It is\u00a0also returning 5\u00a0aircraft to leasing companies, while it slashes the scheduled deliveries of new aircraft to 1 from 15 through the end of 2017. The\u00a0airline industry in Brazil is suffering from weak bookings, as a recession and a decline in the value of Brazil’s currency drives\u00a0up the cost of its US dollar\u00a0based costs and debt. The airline has had\u00a015 consecutive\u00a0quarters of losses, as\u00a0demand has fallen\u00a08 percent in the latest quarter year over year. The company’s stock value has declined\u00a097%\u00a0since 2006.<\/p>\n

Gol Service Reductions<\/h2>\n

Gol\u00a0announced service cuts that\u00a0include ending operations to the island nation of\u00a0Aruba, Caracas, Venezuela, and Miami and Orlando in Florida.\u00a0It will also end\u00a0operations in the domestic Brazilian markets\u00a0of Bauru, Altamira and Imperatriz in the next few\u00a0days.\u00a0The new\u00a0cash injection will commence with $376 million in\u00a0Brazilian currency.\u00a0The cash that will be received is for a block of frequent flyer award travel tickets. The rest of the money will come in installments as needed through the 30th of June 30, 2017.\u00a0The airline\u00a0will pay interest on the injected money\u00a0at an\u00a0interest of around\u00a018.7% a year. This cash comes after US carrier Delta Air Lines bought\u00a0a 9.5% stake in Gol. The airline, and other Brazilian companies, are hoping for an economic uptick with the 2016 Olympics this summer in Rio de Janeiro.<\/p>\n

\"Gol\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Gol Linhas Aereas Inteligentes SA, Brazil’s second largest airline, stated it\u00a0will\u00a0receive\u00a0a cash infusion of up to 1 billion reais ($251 million) as it\u00a0cuts its routes and fleet in an effort to cut\u00a0costs due to\u00a0weak demand.\u00a0The airline will\u00a0cut flights by 6 percent this year\u00a0and eliminate\u00a0service to 7\u00a0cities. It is\u00a0also returning 5\u00a0aircraft to leasing companies, while it […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[185,184,180,182,183],"class_list":["post-759","post","type-post","status-publish","format-standard","hentry","category-aviation-news","tag-2016-olympics","tag-brazil","tag-delta-air-lines","tag-gol","tag-gol-linhas-aereas-inteligentes"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=759"}],"version-history":[{"count":3,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/759\/revisions"}],"predecessor-version":[{"id":763,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/759\/revisions\/763"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}