Gol, Brazil’s biggest domestic airline, announced that it has “entered into definitive arrangements” to expand its commercial cooperation with American Airlines. The deal includes a USD 200 million investment by American for 5.2-percent equity in Gol.
The deal still needs approval from regulators and shareholders. If greenlit, the two companies will team up to share 30 destinations in the U.S. served by American Airlines and 34 new destinations in South America served by Gol.
The cash inflow comes at a great time for Gol, which recorded net losses of BRL 2.5 billion (USD 479 million) in Q3 2021, a 47-percent increase from a year prior.
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