GOL announces Advanced Sale of Airline Tickets

Rhea-AI Summary

On March 19, 2021, GOL Linhas Aéreas executed an advanced sale of airline tickets from GOL to Smiles Fidelidade for R$300 million, backed by GOL as a guarantor. The tickets will yield 115% of the CDI rate, approximately 3.05% per annum. The deal includes favorable commercial terms for Smiles and a commitment to maintain the existing contractual structure throughout 2021. GOL, headquartered in São Paulo, operates over 750 daily flights and serves more than 36 million passengers annually, maintaining Brazil's largest airline network.

Positive

• Secured an advanced sale of airline tickets worth R$300 million.
• GOL acts as a guarantor, indicating strong financial backing for the agreement.
• Yield of 115% of CDI rate (approximately 3.05% p.a.) provides a beneficial financial scenario.

Negative

• None.

SÃO PAULO, March 19, 2021 /PRNewswire/ -- GOL Linhas Aéreas Inteligentes S.A. ("GOL" or "Company"), (NYSE: GOL and B3: GOLL4), pursuant to Article 12 of CVM Instruction 358/2002, as amended, hereby informs its shareholders and the market in general of the execution, on this date, of an advanced sale of airline tickets from Gol Linhas Aéreas SA ("GLA") to Smiles Fidelidade SA ("Smiles"), with the consent of the Company, which will also act as guarantor of all obligations of GLA under said agreement. The total sale amount was R$300,000,000 (three hundred million reais) and will be remunerated at 115% of the CDI rate (approximately 3.05% p.a.). The parties negotiated certain commercial conditions to the benefit of Smiles, as well as the commitment to maintain the current contractual structure during 2021.

Investor Relations
ri@voegol.com.br
www.voegol.com.br/ir
+55(11) 2128-4700

Media Relations
Becky Nye, Montieth & Company
bnye@montiethco.com

About GOL Linhas Aéreas Inteligentes S.A.

GOL serves more than 36 million passengers annually. With Brazil's largest network, GOL offers customers more than 750 daily flights to over 100 destinations in Brazil and in South America, the Caribbean and the United States. GOLLOG's cargo transportation and logistics business serves more than 3,400 Brazilian municipalities and more than 200 international destinations in 95 countries. SMILES allows over 16 million registered clients to accumulate miles and redeem tickets to more than 700 destinations worldwide on the GOL partner network. Headquartered in São Paulo, GOL has a team of approximately 14,000 highly skilled aviation professionals and operates a fleet of 128 Boeing 737 aircraft, delivering Brazil's top on-time performance and an industry leading 20-year safety record. GOL has invested billions of Reais in facilities, products and services and technology to enhance the customer experience in the air and on the ground. GOL's shares are traded on the NYSE (GOL) and the B3 (GOLL4). For further information, visit www.voegol.com.br/ir.

 

View original content:http://www.prnewswire.com/news-releases/gol-announces-advanced-sale-of-airline-tickets-301251014.html

SOURCE GOL Linhas Aéreas Inteligentes S.A.

FAQ

What is the value of the advanced sale of airline tickets by GOL?

The advanced sale is valued at R$300 million.

What financial return will GOL’s ticket sale to Smiles yield?

The tickets will yield 115% of the CDI rate, approximately 3.05% per annum.

When was the advanced sale of tickets by GOL announced?

The advanced sale was announced on March 19, 2021.

What role does GOL have in the agreement with Smiles?

GOL will act as a guarantor for all obligations of Gol Linhas Aéreas under the agreement.