GOL Linhas Aéreas had filed a lawsuit in the United States Court seeking information to protect against the conduct of competitor Latam Airlines in the context of its judicial reorganization.
According to the company, LATAM made contact with aircraft lessors and offered employment to their pilots, in a "deliberate and coordinated campaign to interfere with GOL's property."
The United States Court partially accepted GOL airline's request for protection and investigation against the conduct of competitor Latam Airlines during the company's judicial recovery process.
The decision was handed down this Monday, 12th, in Manhattan. During the hearing, GOL's lawyer, Andrew Leblanc, told US Bankruptcy Judge Martin Glenn that the company would need to investigate whether Latam's conduct violated the country's bankruptcy law.
In its suit, GOL had asked for more testimonies than the three. Among the people requested for clarification were Jerome Cadier (president of Latam Brazil), Roberto Alvo (global president of Latam), Ramiro Alfonsin (chief financial officer of Latam) and Sebastian Acuto (vice president of Fleet and Projects). All depositions will be confidential, and only lawyers for both parties will be allowed access.
Last week, GOL accused Latam of taking advantage of its recovery request to try to rent its aircraft, hire its pilots and discourage travel agents from booking the company's flights.
“We feel like we are under attack from a competitor in our market,” Leblanc said.
"Immediately after filing the Chapter 11 petition, Gol became aware that Latam was attempting to acquire lessors, planes and pilots from Gol," the company says in the document.
The judge ordered Latam to provide documents and make three of its executives available for interviews with GOL's lawyers. Still in his decision, Glenn also stated that it was “absurd” to believe that it was a mere coincidence that the company began its process of hiring new employees the day after GOL filed for bankruptcy.
Latam, in turn, stated in a note that “it is in permanent contact with all relevant stakeholders in fleet matters (lessors and suppliers of equipment and maintenance) as part of its business”.
"The LATAM group is in permanent contact with all relevant fleet stakeholders (lessors, equipment and maintenance suppliers) as part of its business. The company has been active in the market for several months with the aim of securing the necessary capacity to meet ongoing and long-term needs in the context of global supply chain challenges and aircraft/engine shortages."
On January 26, the New York Bankruptcy Court accepted GOL's request for judicial reorganization. With that decision, creditors are prevented from obtaining assets or property from the airline. The measure also suspends actions against the company.
With this, the company will have access to credit worth 950 million dollars. According to the company, the amount will be used to provide “substantial liquidity to support operations”, which will continue normally during the financial restructuring process.
The company's debt totals more than R$19 billion. The strategy has been used successfully in the past. The airline Latam went through a similar process after the impact of the Covid-19 pandemic.
According to GOL, Chapter 11 in the United States provides GOL with legal protection related to the Company's assets during the course of the proceedings, including the leasing of aircraft.
GOL's lawsuit in U.S. Court was aimed at seeking information to determine whether LATAM's contact with aircraft lessors and the offer of employment to Brazilian pilots trained to fly Boeing 737 aircraft violates U.S. bankruptcy law and whether there are additional claims GOL may bring against LATAM !
In practice, the company triggered a legal instrument in the United States known as "Chapter 11" (similar to the Brazilian judicial reorganization), used by companies to suspend the execution of debts and carry out financial and operational restructuring.
The filing was done in the U.S. Bankruptcy Court for the Southern District of New York. According to GOL's CEO, Celso Ferrer, the company opted for the lawsuit in the U.S. Court after a recommendation from the company's lawyers in the country.
Display picture : Sebastian Asriene
