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Gol completes capital increase

Gol informed that the deadline for preference by its shareholders has ended in the capital increase process announced on April 28, which was anchored by a contribution of BRL 268 M from the Constantino brothers, the airline’s controllers. Gol’s minority shareholders contributed BRL 155 M, bringing the total raised to BRL 423 M. Together with the company’s capital increase of BRL 607 M, related to the incorporation of the minority stake in Smiles, this month the airline issued approximately BRL 1 MM in new capital. Combined with the recent reopening in the company’s bonds, Gol has raised more than BRL 2.7 MM in long-term capital this quarter. The company also said that it registered a significant increase in ticket sales in the domestic market in May. The aircraft load factor rose to 81% (against 79%) in the second quarter of this year. In a report released yesterday, analysts at Moody’s rating agency said the capital increase is positive for Gol’s credit profile. Their expectation is that the airline’s cash at the end of the second quarter will be between BRL 1 MM and BRL 1.5 MM with the incorporation of Smiles and the capital increase, while liquidity sources should add up to BRL 4 MM. – https://valor.globo.com/empresas/noticia/2021/06/15/gol-finaliza-aumento-de-capital.ghtml