Delta helped Brazil's Gol refinance $300m loan, memo shows

Delta helped its former Brazilian partner Gol Linhas Aereas Inteligentes to refinance a $300m loan that was due on Monday and which the US carrier had guaranteed, according to an internal memo. Delta confirmed the memo was sent to employees on Wednesday but declined to provide additional details. Gol said on Tuesday it had paid the $300m debt, according to a securities filing, without providing details. The 2015 loan had included a guarantee from Delta which helped Gol get a better interest rate. "As part of the refinancing, Delta worked with Gol to replace the existing loan guarantee with a smaller loan secured with incremental collateral," Delta said in the memo. It said the deal reduces its own financial exposure and provides additional security, while providing Gol more time to address its obligations during the coronavirus pandemic, which has decimated air travel across the globe.<br/>