Credit Line of US$150 million Completes the Aircraft Acquisition Prepayment Financing (PDP Facility) Envisaged in the Company’s Fleet Expansion and Renewal Plan
São Paulo – GOL Linhas Aéreas Inteligentes S.A. (BM&FBOVESPA: GOLL4 and NYSE: GOL), the largest low-cost and low-fare airline in Latin America, has secured a US$150 million credit line, to finance aircraft acquisition prepayments (PDP Facility). This concludes the financing of such payments until the end of 2010, in accordance with the Company’s plan to renew its fleet, which will consist exclusively of Boeing 737-800s and Next Generation 737-700s.
The credit line was taken out with Natixis Transport Finance, a European financial institution specializing in financing for the industrial area, at the Libor +2.45% per year and amortizations (principal plus interest) will coincide with the 2010 aircraft delivery schedule.
„Few airlines had access to this type of financing in 2009. We believe this contract will play an important role in improving our cash flow in 2010 and confirm the financial institutions‘ positive view of GOL’s business plan.“ declared Leonardo Pereira, GOL’s Executive Vice-President.