JULY 10TH, 2015
GOL and Delta Air Lines further strengthen their strategic alliance
São Paulo, July 10, 2015 – GOL Linhas Aéreas Inteligentes S.A. (NYSE: GOL and BM&FBOVESPA: GOLL4), (S&P: B, Fitch: B-, Moody’s: B3), the largest low-cost and best-fare airline in Latin America, in compliance with CVM Instruction 358/2002 (“CVM Instruction 358”), hereby informs its shareholders and the market that it, its controlling shareholder and Delta Air Lines, Inc. (NYSE: DAL) (“Delta”) have agreed to enter into the following transactions (the “Strategic Transactions”):
- equity investments in GOL of up to US$90 million and up to US$56 million to be made by the Company’s controlling shareholder, Fundo de Investimento em Participações Volluto (“Volluto”), and Delta, respectively,
- Delta will guarantee a term loan to be entered into by GOL with third party lenders of up to $300 million, with the guarantee in favor of such third party lenders secured by a first priority security interest in favor of Delta in common shares of Smiles S.A. held by GOL, and
- an extension and expansion of GOL’s commercial cooperation arrangements with Delta.
The Strategic Transactions are intended to allow GOL and Delta to continue to benefit from their strategic partnership and to significantly enhance the financial position and liquidity of GOL.
The consummation of each of the Strategic Transactions is subject to conditions, including the execution and delivery of definitive documentation, regulatory approvals from the Brazilian antitrust authority, and other customary closing conditions.