GOL Linhas Aéreas Inteligentes, a Brazilian airline, has agreed to finance the purchase of 12 new Boeing 737 MAX 8 aircraft for up to $600 million.
The domestic carrier is upgrading its Boeing 737 NG fleet to the newer MAX model. As a result, it is now awaiting the delivery of 102 737 MAX aircraft.
The transaction with Castlelake LP consists of 10 finance leases and two sale-leasebacks, according to a statement issued by the domestic carrier on January 24, 2022.
“Advancing our fleet transformation to the 737 MAX positions us more competitively for growth through greater flexibility in our capacity management and enables the expansion of routes and destinations, ensuring we are highly efficient at meeting fluctuations in travel demand,” GOL COO Celso Ferrer said in a statement.
GOL expects to repatriate up to 18 737 NG aircraft by the end of 2022, with a total of 34 by the end of 2025. According to the airline, this will help it lower unit costs.
The delivery of the 12 extra 737 MAX aircraft will begin in January 2022, according to the company.