GOL Linhas Aéreas Inteligentes (G3, Sao Paulo Congonhas) has denied reports which alleged last week that it is in talks to delay payments related to a USD300 million loan for which Delta Air Lines (DL, Atlanta Hartsfield Jackson) is the guarantor.

As previously reported, Bloomberg alleged - citing two unnamed sources who gave no further details - that negotiations were in progress on the five-year loan, which is due to mature in August 2020. Voting shares issued by Smiles SA, the airline’s mileage scheme, were used as collateral.

“As of this date, no negotiations are in progress to delay the payment of a USD300 million loan due in August,” GOL said in a brief response issued to Reuters news agency late on June 11.

Delta commented in its first-quarter results published on April 22 that there was an increased risk related to GOL’s ability to repay the loan.