American Airlines: invests $200m in Brazil's GOL
(CercleFinance.com) - American Airlines announced that it has signed an investment agreement with GOL, Brazil's largest airline, to deepen the commercial partnership between both airlines and create the largest network in the Americas.
The combined networks will offer flyers more than 30 destinations in the US served by American Airlines and over 34 new destinations in South America served by GOL.
It is also expected that American's Aadvantage and GOL's SMILES frequent flyer programs will be combined, creating the largest joint frequent flyer program on the continent with enhanced benefits for customers.
As part of the agreement, American Airlines will invest 200 million dollars for 22.2 million of GOL's newly issued preferred shares in a capital increase of the Brazilian company, thereby taking a 5.2% stake in the company.
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