GLAI reports USD 550m sale, leaseback agreement for 5 Boeing aircraft

Sao Paulo, Brazil-based GOL Linhas Aereas Inteligentes S.A. (GLAI), (NYSE: GOL; BM & FBOVESPA: GOLL4) has announced a sale and leaseback agreement for 5 Boeing 737 MAX 8 Aircraft with AWAS, the company said.

The five aircraft have a total value of USD 550m and will be delivered between June 2018 and November 2018. Under the terms of the agreement the aircraft will be leased back for 12 years.

The announcement of this sale and leaseback transaction with AWAS, who successfully won the mandate following a competitive process, marks GOL´s fleet modernization, and is expected to contribute to reduced fuel consumption by up to 15% in comparison with 737-800 Next Generation (NG) aircraft.

The 737 MAX 8 aircraft will be equipped with the latest technology, provide improved operational performance, increased range and maximum take-off weight (MTOW), and lower fuel costs, versus both the 737-800 NG and the A320neo. The 737 MAX 8 aircraft will permitting GLAI to provide non-stop flights to the Miami, Ft. Lauderdale, and Orlando, Florida, and Cancun, Mexico, popular destinations for Brazilians.

AWAS is a global leader in commercial aircraft leasing.

Gol Linhas Aéreas Inteligentes provides regular and non-regular flight transportation services for passengers, cargo, and mailbags in Brazil and internationally.