Brazilian airline GOL announces purchase of 28 Boeing 737MAX8 aircraft

RIO DE JANEIRO, BRAZIL – Brazilian airline GOL, one of the largest in the country, announced Tuesday (3) the purchase of 28 737MAX8 aircraft from U.S. giant Boeing. It seeks to reduce its unit costs by 8% and generate nearly US$200 million in capital gains and cash.

The acquisition of the aircraft is part of GOL’s fleet transformation plan, a project with which the company seeks to anticipate “the strong recovery of air travel in the post-pandemic period” and expand routes to new destinations.

The 28 737MAX8 aircraft will replace, by the end of 2022, 23 aircraft of the B737-800NG model, the company explained in a note.

As a result, GOL will end 2021 with 28 737MAX8 aircraft and by the end of 2022 will have 44 737MAX8 aircraft – 32% of its total fleet – bringing the company closer to its goal of having 75% of its aircraft as 737MAX8s by 2030.

According to the company, the purchase of the aircraft will be financed mainly through operating and finance leases.

Despite the critical situation caused by the pandemic, the Brazilian company is committed to expanding its fleet and operations inside and outside the country.

The purchase of the 28 aircraft, disclosed Tuesday by GOL, is in addition to the acquisition of the local company MAP Transportes Aéreos for R$28 million (about US$5.5 million), in cash and shares, announced by the company last June.

In 2020 Gol lost R$5.988 billion (about US$1.2 billion), 5,005% more than in 2019, due to the impact of the coronavirus pandemic.