Gol Bankruptcy Shows Pandemic's Lingering Impact on Latin American Airlines.

Brazilian airline Gol has filed for Chapter 11 bankruptcy, joining a string of Latin American carriers that have struggled financially due to the lingering impact of the COVID-19 pandemic. Gol plans to continue operating while undergoing restructuring, including renegotiating contracts with lessors. The airline's financial difficulties stem from the pandemic's effect on travel, which cost the industry an estimated $21 billion. Unlike their US and European counterparts, Gol and other Latin American airlines did not receive bailouts. The bankruptcy filing could potentially lead to consolidation in the industry, with speculation of a Gol acquisition by rival Azul SA. [Extracted from the article]