Gol Airlines has received approval from the U.S. bankruptcy court for its Chapter 11 restructuring plan, positioning the Brazil-based carrier to emerge from bankruptcy protection by early June. The airline, which filed for Chapter 11 in January 2024, said it has secured financing to support its exit, strengthen liquidity, and reorganize its debt.

The carrier has made substantial progress in restoring its fleet. In 2024 alone, it completed over 50 engine overhauls and stated that it is on track to have all of its aircraft operational by the first quarter of 2026. Gol also confirmed that five new Boeing 737 Max aircraft are scheduled for delivery in 2025, marking another step in its post-bankruptcy recovery strategy.

Gol is a member of the Abra Group, which also includes Avianca, another major Latin American airline. In addition to its regional network, Gol has global partnerships with American Airlines in the United States and Air France-KLM in Europe, enhancing its connectivity across key international markets.

Earlier this year, Abra signed a memorandum of understanding with fellow Brazilian low-cost carrier Azul to explore a merger of their operations in Brazil. The carriers said their networks are roughly 90 percent complementary and non-overlapping, suggesting significant potential for synergy without major route duplication.

Meanwhile, Azul continues to navigate its own financial challenges. Following media reports in mid-May about a possible U.S. bankruptcy filing, the airline issued a statement clarifying that it is evaluating strategic options. Azul emphasized its recent progress in reducing debt and improving its leverage ratio, while confirming that it is engaged in discussions with partners to improve its liquidity and long-term financial sustainability.