During the “first day” hearing of Brazilian airline GOL Linhas Aéreas Inteligentes’s Chapter 11 bankruptcy proceeding in the U.S. Bankruptcy Court for the Southern District of New York, the court approved the airline’s interim access to $950 million debtor-in-possession financing.

Brazilian airline GOL Linhas Aéreas Inteligentes voluntarily filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of New York. GOL entered the process with a financing commitment for $950 million in new debtor-in-possession financing.