In a significant development, Brazilian airline Gol has elected Eduardo Gotilla as its new Chief Financial Officer (CFO). This decision comes amidst the carrier’s ongoing bankruptcy proceedings. Gotilla, who previously held the position of CFO at power company Light until January, will now take on the crucial role at Gol. His appointment is set to commence on June 3.
Gol, facing financial challenges, has been navigating bankruptcy proceedings. The airline recently revealed preliminary results for April, including a staggering net debt of $4.5 billion. As the carrier seeks stability, the change in leadership aims to steer the company toward recovery and strategic financial management.
Financial Snapshot
Here are the key financial highlights for April:
- Net Loss: Gol reported a net loss of $76 million for the month. This figure has been adjusted to exclude exchange rate losses.
- Net Revenue: Despite the challenging circumstances, the airline achieved net revenue of $259 million during April.
- Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA): Gol’s EBITDA stood at $26 million for the same period.
Eduardo Gotilla Takes the Helm
Eduardo Gotilla’s appointment as CFO signals Gol’s commitment to financial resilience. His experience in managing financial operations and navigating complex business environments will be crucial as the airline works toward stability and growth.
Special Projects Advisor
Outgoing CFO Mario Tsuwei Liao will transition into a new role as an advisor for special projects within the airline. His expertise will continue to contribute to Gol’s strategic initiatives.
