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Gol's financial restructuring approved by US bankruptcy court

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Brazilian carrier Gol secured approval on 20 May of its financial restructuring plan after filing for Chapter 11 bankruptcy last year.
The financial restructuring plan of Gol, a Brazilian airline, has been approved by a US bankruptcy court, marking a significant step in the company's efforts to manage its financial challenges. This approval allows Gol to proceed with its reorganization, which includes reducing its debt by approximately $2.9 billion and securing $950 million in new financing. The plan, supported by a majority of Gol's creditors, aims to strengthen the airline's financial position and ensure its long-term sustainability. Gol, which filed for Chapter 11 bankruptcy protection in January, has been working to restructure its operations and finances amidst the ongoing economic pressures faced by the aviation industry.

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