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SAO PAULO, May 12 (Reuters) - Gol Linhas Aéreas Inteligentes SA, Brazil's most indebted airline, has proposed creditors a restructuring plan that is "the best possible out there," Chief Executive Officer Paulo Kakinoff said on Thursday.
The restructuring proposal, which wants bondholders to take losses on their investments of up to 70 percent, is "not negotiable," Kakinoff said at a conference call to discuss first-quarter results.
Reporting by Priscila Jordão; Writing by Guillermo Parra-Bernal; Editing by Chizu Nomiyama