The $200 million deal offers the US service a 5.2 % stake in Brazil’s largest airline
American Airways and GOL, Brazil’s largest airline, have introduced a definitive funding settlement that can see American take a 5.2 % stake within the South American service.
American’s funding of $200 million in GOL, initially introduced in September 2021, will deepen the connection between the 2 carriers, giving the US service a member of the Brazilian firm’s board of administrators.
The deal additionally contains creating an unique code sharing settlement between the airways. Mixed, the carriers function companies between 30 cities within the US and 20 locations in Brazil, in line with American.
Moreover, this 12 months members of American’s AAdvantage and GOL’s Smiles loyalty packages will have the ability to entry standing rewards on each airways. Advantages embody most popular seating, precedence check-in and boarding, lounge entry and a bigger checked-bag allowance.
The 2 airways additionally count on to supply an enhanced joint loyalty providing to present clients extra methods to earn and redeem miles.
American initially introduced a partnership with GOL in February 2020, shortly after the Brazilian service’s partnership with Delta ended. American has additionally introduced in August 2021 that it intends to take minority stake in Chile’s JetSMART, one other South American low-cost service.