Brazilian Airline Gol Reports Loss, Hit By Boeing 737 Troubles

Brazil’s largest airline, Gol Linhas Aereas Inteligentes, on Thursday reported a 242 million reais ($60.69 million) third-quarter loss, hit by problems affecting its Boeing 737 planes, Reuters reported. Gol flies Boeing 737 planes exclusively, a strategy which can help to reduce costs. But this year it has exposed the company to Boeing’s woes, including the worldwide grounding of the Boeing 737 MAX, following two deadly crashes. The carrier says it expects its seven MAX planes will receive regulatory approval to resume flights in December, based on the guidance it has received from Boeing. U.S. carriers do not expect to fly the MAX until 2020, according to their schedules. The Boeing fleet problems have reduced the benefit Gol received following the collapse of rival Avianca Brasil, following a failed bankruptcy restructuring. Read more

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