GOL Linhas Aéreas Inteligentes S.A., along with its 10 affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of New York on January 25, 2024. The debtor listed both its assets and liabilities in the range of $1 billion to $10 billion. The debtor is represented by Gregory Allan Bray and Evan R. Fleck of Milbank LLP as its legal counsels, and Hughes Hubbard & Reed LLP acted as legal advisor for aviation related matters.

The debtor also hired Seabury Securities LLC as its financial advisor and investment banker and AlixPartners, LLP as its financial advisor. Kroll Restructuring Administration LLC acted as claim and noticing agent.