Aviation
Commercial /
Brazil
Partnership
American Airlines increases participation in Gol to 5.2%; companies announce codeshare agreement
Boeing 737-800
Gol Linhas Aéreas
CC BY-SA 2.0
Rafael Ramos
9/15/2021
Gol will receive an investment of 200 million dollars from the American airline American Airlines, equivalent to approximately 1.05 billion reais. The investment comes from the acquisition of 5.2% of Gol's shares (22.2 million preferred shares recently issued). American Airlines may choose a member for Gol's board of directors.
In addition, Gol will be American Airlines' only commercial partner (codeshare) in Brazil, as well as American will be Gol's only partner in the US. With the new agreement, Gol passengers will be able to access more than 30 destinations in the US and 20 new destinations in South America. The agreement is expected to last at least 3 years. This is the largest network between Brazil and the United States.
The codeshare partnership has been in place since 2020. And the partnership's flights operate in the Gol de São Paulo (GRU) and Rio de Janeiro (GIG) hubs. However, now, the agreement will be strengthened. “American Airlines has long been the leading US airline in South America and our strongest and most intense partnership with Gol solidifies that leadership position,” said American Airlines President Robert Isom.
Greater commercial cooperation in areas such as purchasing, sales tools and systems integration should also take place, as permitted by the contract.
"The investment, when added to the BRL 2.7 billion of long-term capital raised in 2Q21, raises the total long-term capital raised to more than BRL 3.7 billion in the last six months, including more than BRL 2 billion This additional liquidity further improves Gol's financial flexibility while minimizing dilution for shareholders,” according to Vice President of Finance Richard Lark.
Airbus A321
American Airlines
Glenn Beltz, CC BY 2.0, via Wikimedia Commons
Hyperlinks:
...
...
...
Rafael Ramos
Aviation enthusiast from an early age, he had his first contacts with the area developing that good old habit of spending dozens of hours in front of the screens of Micrsoft Flight Simulator and other simulators. With a solid background in various technological areas, including engineering and chemistry, Rafael has rejoined aviation as editor and author of articles and materials on our portal, providing invaluable help to the dynamics and expansion of the website and the aeronautical community, bringing us the news and updates so indispensable for us to remain current in our area of operation.
   
|
|