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Brazilian airline Gol announced on Friday that Eduardo Gotilla has been appointed as its new Chief Financial Officer (CFO).
Gotilla, formerly the CFO of power company Light until January, replaces Mario Tsuwei Liao in the same role at Gol. He is scheduled to assume his new position on June 3, as stated in the airline’s securities filing.
Tsuwei Liao, the outgoing CFO, will continue working with Gol as an adviser for special projects.
Preliminary Results for April:
In a separate filing, Gol released preliminary financial results for April as part of its monthly disclosure obligations stemming from its bankruptcy proceedings initiated in the United States earlier this year.
Gol reported a net loss of $76 million for April, adjusted to exclude exchange rate losses. Despite this, the airline recorded a net revenue of $259 million for the month, alongside $26 million in earnings before interest, taxes, depreciation, and amortization (EBITDA).
Context of Bankruptcy Proceedings:
These disclosures come amid Gol’s ongoing bankruptcy proceedings, a strategic move by the Brazilian airline to navigate financial challenges.
The appointment of Eduardo Gotilla as CFO signals Gol’s commitment to bolster its financial management team amid turbulent times in the aviation industry.
As the airline grapples with financial restructuring, releasing preliminary April results offers stakeholders insight into Gol’s financial performance during a critical period.
