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GOL Announces Sale and Leaseback Agreement for Five Boeing 737 MAX 8 Aircraft

GOL INTELLIGENT AIRLINES (GOL)  More Company Research Source: PR Newswire
US:NYSE Investor Relations: ir.voegol.com.br
PDF SAO PAULO, Feb. 14, 2017 /PRNewswire/ -- GOL Linhas Aereas Inteligentes S.A. ("GLAI"), (NYSE: GOL and BM&FBOVESPA: GOLL4), Brazil's largest airline, announces today a Sale and Leaseback agreement for five Boeing 737 MAX 8 Aircraft with AWAS.The five aircraft have a total value of US$550 million 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 we expect it will contribute to reduce fuel consumption by up to 15% in comparison with 737-800 Next Generation (NG) aircraft. Current fleet consists of 120 aircraft with an average age of eight years.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 bo [Read more]

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