Brazilian Airline Gol Gets Prize and US$ 50 Million Loan

Brazilian leading business magazine Exame has awarded Gol Airlines with its Melhores e Maiores 2006 (Best and Largest 2006) prize in the transportation sector.

This award is given to Brazilian companies every year. In 2004, Gol had received the same award, and, additionally, was named Company of the Year by Exame.

"Receiving the Exame award one more time make us proud. It is the recognition of our work to make air transport accessible to more and more people in Brazil and in South America as well. This award – that I share with our employees and clients – confirms our successful journey, marked by operational efficiency, lean structure, agility, simplicity, technology and low costs," says Constantino de Oliveira Junior, president of Gol.

Technical consultants and the magazine staff considered six performance figures before appointing Gol as the best among 35 transportation companies: sales growth, fixed assets investment, market leadership, current liquidity, return on assets and wealth produced per employee.

US$ 50 Million Loan

Gol has announced that its subsidiary Gol Transportes Aéreos S.A. has entered into an agreement for a US$ 50 million long-term financing from the International Finance Corporation (IFC), the private sector arm of the World Bank Group.

The IFC financing will support Gol’s investment in aircraft spare parts inventory and working capital requirements to meet the needs of its growing fleet.

This financing demonstrates IFC’s commitment to provide long-term and stable funding diversification to Brazilian companies.

"IFC’s partnership with Gol is a good example of our strategy in South America to support local businesses and help them expand their businesses nationally and regionally.

"In its brief history, Gol has made a significant contribution to the growth, connectivity and efficiency of the Brazilian airline sector, which has resulted in substantial benefits for its customers and the Brazilian economy," said Francisco Tourreilles, director of IFC’s infrastructure department.

"Gol is investing in an area critical to Brazil’s further economic development. The investment fits IFC’s strategy to encourage private sector investment in infrastructure as a means to stimulate economic growth in Brazil," stated Saran Kebet-Koulibaly, IFC’s Associate Director for Latin America and the Caribbean, and Country Manager for Brazil.

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil Wins the Cotton War Against the US

Brazil gained a definitive victory at the World Trade Organization (WTO) against US cotton ...

Rio Deal

I was pretty sure that within a few seconds of stepping off the bus ...

Brazil Finally Gets a Tourism Surplus

This year, from January to August, Brazil’s tourism revenue rose 36.5%, compared to the ...

Brazil Lula’s Former Chief of Staff Goes to Court Against Accuser

Brazilian Congressman José Dirceu, who just resigned his post of  chief of staff of ...

Child Labor and Violence Explain Low School Attendance in Brazil

Brazil's Ministry of Education (MEC) publicized a report revealing the principal causes which led ...

Brazilian President Vows to Contain Inflation and Maintain Growth

In the latest warning against surging consumer prices in Brazil, Brazilian President, Luiz Inácio ...

Brazilian Executive and Judiciary Dispute over Landless Killings

The Chief of Cabinet of Brazil, Dilma Rousseff, said the Brazilian government will continue ...

Brazilian Scientist in the Emirates Helps Save Wild Goat from Extinction

At the foot of mountain Jebel Hafeet, in the United Arab Emirates, a group ...

Relatives of Boeing Crashed in Brazil Sue American Firm ExcelAire

ExcelAire, the Long Island-based company that owns the Legacy jet that collided on September ...

Brazil Solves Leather Residue Problem Turning It into Fertilizer

Tanning and shoe industries' leather residue, which have been an environment problem thus far, ...