Brazil’s Gol Jumps Over 40% on Expectations of Chapter 11 Exit

Shares in Gol Linhas Aereas Inteligentes SA extend Tuesday’s gains, jumping as much as 44% in Sao Paulo on Wednesday — its biggest intraday rise since March 2020 — after the airline obtained US bankruptcy court approval for its Chapter 11 restructuring.

• The stock trades for 1.39 reais as of 4:31 p.m. in Sao Paulo
• The company expects to exit Chapter 11 in early June, it said in a statement Tuesday
  • NOTE: Brazilian Airline Gol Wins Approval of Chapter 11 Restructuring
• The approval “shows that the company has been recovering over time, leaving a confident image for both its creditors ...