GOL Linhas Aéreas Inteligentes (G3, São Paulo Congonhas) has announced that it will actively "evaluate capitalisation alternatives and/or available alternative transactions," assessing potential new sources of funding as the company journeys through its Chapter 11 bankruptcy process in the United States.

It will do so, it said in a notice to the market on March 7, in a timely manner, through a competitive process conducted with the support of its advisors. However, the company has not initiated such procedure as yet, it cautioned.

Earlier this month, ch-aviation reported that Azul Linhas Aéreas Brasileiras (AD, São Paulo Viracopos) was exploring a potential offer to buy GOL Linhas Aéreas. Reportedly, the company has been working on the issue with Citigroup and Guggenheim Partners. Any would-be transaction would, however, have be approved by Brazil’s antitrust authority (CADE), as well as by GOL’s current owner, Abra Group.

GOL began Chapter 11 proceedings in January and recently received approval for debtor-in-possession financing of USD1 billion. It faces near-term liabilities this year of around USD2.7 billion.

The ch-aviation fleets module shows that GOL’s fleet comprises fifteen B737-700s, forty-five B737-8s, seventy-four B737-800s, and six B737-800(BCF)s.