Brazilian low-cost airline Gol has pushed back the deadline for investors to analyse its proposed $1.9bn financing package, citing market volatility created by US President Donald Trump's recently announced tariffs, Reuters reported.

The deadline for the "exit financing" from the company's judicial reorganisation process has been postponed from April 19 to May 15, the airline said in a statement on April 15.

Potential investors were notified about the extension by Seabury Securities, which is acting as Gol's investment bank, due to "significant fluctuations" in markets following Trump's April 2 tariff announcement, which has created uncertainty across Latin American markets.

According to Valor, Gol CEO Celso Ferrer said the company has already secured commitments for $1.25bn of the required funding but needs the full amount to exit bankruptcy proceedings.

"With a large debt like $1.9bn, we need to seize market windows as they open," Ferrer said during a press event at the company's maintenance center.

The carrier's exit from Chapter 11 bankruptcy proceedings, initially expected in June, could face delays if the remaining $650mn cannot be raised by mid-May.

Ferrer noted that investor sentiment has been affected by recent market conditions. "Airline bonds are priced based not only on the company itself but also in comparison to the broader market. A growing debt burden—combined with volatility and a strong dollar—is far from ideal in the eyes of investors," he said.

The company indicated that if market conditions improve, the deadline for binding commitments from investors could be brought forward.

Ferrer also addressed speculation about a potential merger with rival Azul, stating that their agreement prohibits any deal while Gol remains under Chapter 11 protection.

Gol filed for Chapter 11 bankruptcy protection in the US in January, seeking to restructure approximately $2.7bn in debt while continuing normal operations. The airline, Brazil's second-largest, has been working to secure the $1.9bn financing package as a critical component of its reorganisation plan.