Avelo will lease five Boeing 737NG from Gol Linhas Aéreas with deliveries starting in May 2024. The U.S. airline seeks to reinforce its fleet of 16 aircraft of the same model, as reported by Aviation Week.
Avelo plans to receive the 737 NG between May 2024 and the first quarter of 2025. According to Avelo’s commercial manager, Trevor Yealy, “Our expectation is to see some of them this year and others at the beginning of next year, as this depends entirely on the previous operator returning the aircraft to the leasing company on time.”
As detailed by our affiliated media Aeroin, Avelo currently operates a fleet of nine 737-800 aircraft, configured for 189 passengers, and seven 737-700 aircraft, with a capacity of 149 seats. The five aircraft from Gol include four 737-800 and one 737-700.
Avelo plans to continue operating with an exclusive 737NG fleet, using both used 737-700 and 737–800 models. Yealy confirmed that, in addition to the five aircraft from Gol, Avelo is looking for more used 737NG and has already signed letters of intent “for some more belonging to other airlines.”
Crisis at Gol
Gol voluntarily filed for Chapter 11 with the United States Bankruptcy Court for the Southern District of New York with the aim of restructuring its short-term financial obligations and strengthening its capital structure for long-term sustainability.
According to the airline, this process begins with a financing commitment of USD 950 million under the DIP (Debtor in Possession) format from members of the ad hoc group of Abra bondholders and other Abra bondholders (the holding company that will merge the company with Avianca).
Gol is the fourth major Latin American airline group to file for Chapter 11 following the outbreak of the pandemic. Aeroméxico, Avianca, and LATAM went through similar processes that emerged successfully.
