Apollo and GOL Linhas Aéreas Inteligentes closed on a sale and leaseback transaction of one new Boeing 737 MAX 8 aircraft between GOL and certain funds managed by Apollo affiliates and serviced by Merx Aviation. The aircraft was acquired by the Apollo funds upon its delivery from Boeing in July and then immediately placed on long-term lease to GOL.

Powered by CFM LEAP-1B engines, the 737 MAX 8 provides longer range that will allow GOL to offer its customers nonstop service with a new technology aircraft throughout Latin America, as well as to the Caribbean, Mexico and the United States, while at the same time reducing fuel consumption, carbon emissions and costs.

“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,” Celso Ferrer, CEO of GOL, said. “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.”

“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,” Gary Rothschild, CEO of Merx and head of aviation finance at Apollo, said. “We look forward to working with the GOL team in the years ahead.”