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SAO PAULO - Gol (GOLL4) said on Friday (23) the initiation of the bankruptcy of its subsidiary Webjet, which will be discontinued brand.
According to the company, the first step is the termination of flight operations. As a result of the closure of operations, Webjet off approximately 850 employees between technical crew, crew and aircraft maintenance business.
"The Webjet has an operating model based on a fleet consisting mainly of Boeing 737-300 aircraft model, the high average age, high fuel consumption and technological gap. With the new levels of cost sector in Brazil, this model left to be competitive, "says Gol.
Assistance to passengers and increased costs
The company also said that customers and passengers Webjet will have the assistance of the Gol and have secured their flights. From this date the Goal will be responsible for all air transport services and assistance to these passengers.
With this decision and the consequences resulting therefrom, the company estimates one-off increase in costs during the fourth quarter of 2012. According to the company, these measures should result in more efficient operation from 2013.
Regarding the Webjet Boeing 737-300 fleet, it is estimated the total return of 20 aircraft by the end of the first half of 2013, with 16 of those returned by the end of the first quarter of next year.
"In this scenario of reducing its fleet, Gol expects a reduction of domestic supply (ASK) between 5% and 8% in the first half of 2013 compared to the same period in 2012," the company said in a statement.
"These measures reinforce the commitment of Gol in the recovery of their operating margins and sustainability of the business," the company concludes.
prchan From Brazil, joined Jul 2012, 40 posts, RR: 0
Reply 1, posted (1 year 9 months 1 week 1 day 16 hours ago) and read 5164 times:
This was expected since Gol acquired the company.
The main asset held by Webjet were the slots in SDU, and CADE (the Brazilian anti trust agency) ruled that Gol could not cancel more than 15% of the flights on that airport (considering combined operations) in order to keep the slots.
I would not say that Webjet went bankrupt. It was acquired, and shut down afterwards, with its operation being integrated with Gol's.
C010T3 From Brazil, joined Jul 2006, 3699 posts, RR: 19
Reply 4, posted (1 year 9 months 1 week 1 day 10 hours ago) and read 4533 times:
This is not true! Webjet did not go bankrupt! It will have only its operations ceased before it's folded into Gol.
Gol bought the airline back in 2011 when the market was still growing steadily. Now that the growth is slower, they decided to cut back the operations. Since Webjet hadn't been integrated into Gol yet, it was much easier to cut there.