US court accepts Gol’s request to hear Latam about conduct in the market – 02/12/2024 – Market

US court accepts Gol’s request to hear Latam about conduct in the market – 02/12/2024 – Market

The United States Court, responsible for Gol’s judicial recovery, partially accepted, this Monday (12), the company’s request to hear Latam about its conduct in the market.

The decision of the American Court allows Latam to be subpoenaed to give statements about its internal communications and with lessors (owners of the planes, leased by the airlines) of Gol’s Boeing 737 planes.

In an emergency motion filed last week, Gol said Latam is involved in “a deliberate and coordinated campaign” to try to lease aircraft and interfere with its ownership.

The company in judicial recovery described Latam’s conduct as “predatory” and asked the competitor to explain its behavior.

In the document, Gol said that, shortly after filing for judicial recovery in court, it became aware that Latam was trying to obtain its leases, planes and pilots.

In the action, Gol cited the interview with Jerome Cardier, CEO of Latam, to Folha published last week. “Gol has several planes parked. Who knows, we might be able to get them flying,” said the executive in an excerpt used in the action.

“From the moment we knew that there were planes parked and we could have access to this capacity, we are looking for this like any other. So, I don’t think it can get any worse, because it’s part of the game,” Cardier said in another part of the interview as well. cited by Gol.

The court accepted part of the motion. The court accepted the request for explanations about the alleged interference in the leasing of the aircraft, but rejected part of the text that mentioned Latam’s efforts to attract Gol pilots.

Now, Gol’s lawyers are allowed to subpoena Latam. Three statements lasting a maximum of five hours each may be heard by the court.

When contacted by Folha, Gol said it was satisfied. According to the company, the decision will allow Latam’s actions to be clarified, in addition to identifying whether they violate US bankruptcy law and legal protections relating to GOL’s assets.

Latam once again stated that it is in permanent contact with all stakeholders relevant to the fleet (lessors and suppliers of equipment and maintenance) as part of its business.

“The company has been active in the market for several months with the aim of ensuring the necessary capacity to meet ongoing and long-term needs in the context of global supply chain challenges and the lack of aircraft and engines”, says Latam in a note .

Last Friday (9), Latam filed an objection to Gol’s request in the US Court. In the document, the company says that the “debtors [a Gol] are flagrantly abusing bankruptcy law to obtain confidential commercial information about Latam’s fleet plans.”

The company also stated that Boeing 737 planes are used by many airlines around the world.

According to Latam, the lessors that Gol considers its main aircraft suppliers are “some of the largest lessors in the world, each with dozens of other airline customers.”

“Simply speaking, Latam is not looking for Gol aircraft, it is looking for any narrow-body aircraft [avião de fuselagem estreita, com um corredor central] available that meets its specifications and those of its affiliates,” the company wrote.

According to Gol, Latam sent an email to lessors inviting them to do business. According to the company, the message cites “recent industry events” and distorts Gol’s financial capacity to be a commercial partner and lessee of Boeing 737 aircraft.

At the end of January, the United States Court accepted Gol’s request for judicial recovery. At the time, the company announced US$8.3 billion (R$40.7 billion) in debt.

According to the decision, the parties, whether individuals, partners, corporations, foreign or national, are prohibited from opening or continuing any legal or administrative actions against debtors.

They will also not be able to execute, against debtors or their assets, judgments obtained before the start of the process known as chapter 11, among other impediments.

With the court decision, Gol also guarantees the maintenance and protection of its licenses and concessions, since the Court prohibited acts of revocation and suspension of these authorizations.

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