Apollo (NYSE: APO) and GOL Linhas Aéreas Inteligentes S.A. (“GOL”) today announced the completion of a sale and leaseback transaction, involving one new Boeing 737 MAX 8 aircraft, between GOL and certain funds managed by Apollo affiliates (the “Apollo Funds”) and serviced by Merx Aviation (“Merx”).
The aircraft was acquired by the Apollo Funds upon its delivery from Boeing in July 2022 and immediately placed on long-term lease to GOL.
The 737 MAX 8 represents the future of GOL’s fleet and is a key component of the airline’s transition to more fuel-efficient, new technology aircraft. Powered by technologically advanced CFM LEAP-1B engines, the 737 MAX 8 provides longer range that will allow GOL to offer its customers nonstop service throughout Latin America, as well as to the Caribbean, Mexico and United States, while at the same time reducing fuel consumption, carbon emissions and costs.
Celso Ferrer, CEO of GOL said: “Today’s announcement reinforces our partnership with industry leaders, such as Merx and we are delighted to receive another new Boeing 737-MAX 8 with them. GOL’s Fleet Transformation program was built on the back of the enhanced performance and productivity of this aircraft and now we have approximately 50% of our capacity being generated by this new technology. We are confident that our plan, along with our ability to access competitive credit lines are our main differential. We thank Merx executives for their partnership, trust and the continuous support.”
Gary Rothschild, CEO of Merx and Head of Aviation Finance at Apollo, said: “We are pleased to expand our existing relationship with GOL as the airline executes its fleet renewal strategy, and as we continue to migrate our own portfolio to the newest and most fuel-efficient fleet types. We look forward to working with the GOL team in the years ahead.”