June 20, 2024

Amid bankruptcy process, Brazil airline Gol swaps finance chief

SAO PAULO (Reuters) – Brazilian airline Gol announced on Friday that its board elected Eduardo Gotilla as its new chief financial officer, while also posting preliminary results for April including net debt of $4.5 billion as part of the carrier’s ongoing bankruptcy proceedings.

Gotilla was the CFO of power company Light through last January. He replaces Mario Tsuwei Liao in the same role at Gol and is set to start on June 3, the airline said in a securities filing.

Gol added that Tsuwei will serve as an adviser for special projects for the airline.

In a separate filing, Gol released preliminary results for April, part of the monthly data it must disclose due to the bankruptcy process the Brazilian airline entered in the United States earlier this year.

Gol reported a $76 million net loss for April, which was adjusted to exclude exchange rate losses.

It also posted net revenue of $259 million for the month and $26 million in earnings before interest, taxes, depreciation and amortization (EBITDA).

(Reporting by Andre Romani; Editing by David Alire Garcia)

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *