Ex-Im grants $84.8 million loan to GOL

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Published: April 18, 2012

Brazil’s GOL has received an $ 84.8 million loan guarantee from the US Export-Import Bank (Ex-Im) to support the export of its engine maintenance services to Delta TechOps in Atlanta. Under a five-year contract signed in December 2010, GOL CFM56-7B engines will be shipped from Sao Paulo to Atlanta for heavy maintenance, covering up to 253 scheduled and unscheduled engine removals. The loan will fund the first two years of the contract.

GOL CEO Constantino de Oliveira Jr. said the maintenance agreement is “essential to supporting our existing fleet, which has grown along with our airline operations in recent years.”

The US Senate last month voted against reauthorization of Ex-Im (ATW Daily News, March 22), which has been at the center of some recent aircraft financing controversies.

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