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Gol-ly: Delta Might Owe $300 Million for an Another Airline’s Loan

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Los Angeles, California - April 18, 2014: A Delta Air Lines Boeing 757-200 with the registration N655DL takes off from Los Angeles International Airport (LAX) in California. Delta Air Lines is the world's largest airline with 733 planes and some 160 million passengers in 2012. It is headquartered in Atlanta, Georgia.
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Delta might have 300 million more reasons to fret over its bank accounts. Reuters reports that the airline “may have to repay $300 million on behalf of Brazil’s Gol.”

About five years ago, Delta guaranteed a debt on behalf of Gol. (No good deed goes unpunished, right?)

And the hits keep coming:

Gol’s struggles are just the latest challenge for Delta, whose investments in Latin America, once seen as a growth area, have faltered due to COVID-19.

Delta’s 49% stake in Aeromexico and 20% stake in LATAM Airlines Group are at risk of dilution or being wiped here out as both airlines undergo bankruptcy restructurings.

Delta sold its stake in Gol in 2019 to buy its stake in Gol rival LATAM Airlines but maintained the loan guarantee.

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Featured image: ©iStock.com/Boarding1Now

Rene’s Points For Better Travel, a division of Chatterbox Entertainment, Inc. has partnered with CardRatings for our coverage of credit card products. Rene’s Points For Better Travel and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. As an Amazon Associate I earn from qualifying purchases.


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2 Comments

  2. DT Reply

    Would Delta have access to any assets, put up as collateral, such as the planes? Not that aircraft are in demand now, but at least it’s something.

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