GOL has just announced the closing of the transaction involving the expansion of its commercial cooperation with American Airlines through an exclusive codeshare agreement for the next three years and an investment by American in the amount of two hundred million dollars in 22.2 million new preferred shares, issued by GOL in a capital increase representing an interest of 5.3% in the economic rights derived from the company’s stock.
American and GOL’s controlling shareholder entered today into an agreement whereby American has the right to appoint one member to GOL’s board of directors during the exclusivity period provided for in the transaction.
The existing codeshare, signed in February 2020, represents the largest air network in the Americas and allows GOL passengers to connect to more than thirty destinations in the United States. The renewed codeshare agreement will provide exclusivity to the parties.
In February 2022, both companies announced that all terms had been thoroughly discussed and that all that was pending was GOL’s Board of Directors approval, and Brazilian governmental antitrust revision and acceptance.
The partnership’s flights currently operate out of GOL’s hubs in São Paulo (GRU) and Rio de Janeiro (GIG), integrating 34 Brazilian and international route options, such as Montevideo, Uruguay.
