Apollo Funds Complete Sale-Leaseback Transaction with GOL
NEW YORK and RIO DE JANEIRO, Brazil, Sept. 08, 2022 (GLOBE NEWSWIRE) -- 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.”
About GOL Linhas Aéreas Inteligentes S.A.
GOL is the largest airline in Brazil, leader in the corporate and leisure segments. Since founded in 2001, the Company has the lowest unit cost in Latin America, thus democratizing air transportation. The Company has alliances with American Airlines and Air France-KLM, besides several codeshare and interline agreements available to Customers, bringing more convenience and simple connections to any place served by these partnerships. With the purpose of “Being the First for All”, GOL offers the best travel experience to its passengers, including: the largest number of seats and more space between seats; the greatest platform with internet, movies and live TV; and the best frequent-flyer program, SMILES. In cargo transportation, GOLLOG delivers orders to different regions in Brazil and abroad. The Company has a team of 14,000 highly qualified aviation professionals focused on Safety, GOL’s #1 value, and operates a standardized fleet of 144 Boeing 737 aircraft. The Company’s shares are traded on the NYSE (GOL) and the B3 (GOLL4). For further information, visit .
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2022, Apollo had approximately $515 billion of assets under management. To learn more, please visit .
About Merx
Merx Aviation is a global aircraft leasing, management and finance company based in New York, Dublin and Singapore. For more information, visit .
Apollo Contact Information
For investors:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
For media:
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822 0491
GOL Contact Information
For investors:
+55 (11) 2128-4700
