GOL secures guarantee for engine financing
GOL, the Brazilian domestic airline, has announced that it has received approval to access a newly developed credit insurance policy structured with the direct support of the Executive Secretariat of…
GOL, the Brazilian domestic airline, has announced that it has received approval to access a newly developed credit insurance policy structured with the direct support of the Executive Secretariat of the Chamber of Foreign Trade (SE-Camex) and backed by the Export Guarantee Fund (FGE).
This credit insurance policy can be used to enable maintenance services provided exclusively in Brazil by the GE-Celma MRO maintenance unit, supporting the local economy of Petrópolis, in the metropolitan region of Rio de Janeiro, and allowing GOL to seek third-party credit lines of up to $209 million to finance the maintenance of its CFM56-7B engines.
In October, Air France-KLM and GOL signed an agreement to extend and enhance their commercial partnership for the next 10 years.
Under the terms of this agreement, both parties will grant each other exclusivity on routes between Europe and Brazil and enhance their commercial cooperation.
This will result in better connectivity, improved customer experience and more benefits for their respective customers.
Initially introduced in 2014 for a period of 5 years, the commercial partnership between Air France-KLM and GOL had already been renewed in 2019.
It covers over 99% of the demand between Brazil and Europe and today one out of every five passengers traveling to Brazil with Air France and KLM connects to a GOL flight.
In total, over two million passengers have benefited from the partnership since its introduction.
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