Brazilian airline GOL Linhas Aéreas Inteligentes has agreed financing of up to $600 million to fund the purchase of 12 new Boeing 737 MAX 8 aircraft.  

The domestic airline is modernizing its fleet of Boeing 737 NGs with the newer MAX variant. It is therefore now awaiting delivery of 102 737 MAX aircraft.   

The domestic carrier said in a statement on January 24, 2022 that the transaction with Castlelake LP comprises 10 finance leases and two sale-leasebacks.  

“Accelerating 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, which will ensure we are highly efficient at meeting fluctuations in travel demand,” Celso Ferrer, GOL COO said in the statement. 

GOL plans to return up to 18 737 NG aircraft in 2022, with a total of 34 to be returned by the end of 2025. This will help it reduce unit costs, the airline said.  

It said that delivery of the 12 additional 737 MAX aircraft will start in January 2022.  

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GOL transforms its fleet by replacing Boeing 737 NGs with Boeing 737 MAX aircraft.