Gol said it would receive a $200 million equity investment under the deal, according to a securities deposit wednesday, which would lead to a roughly 5 percent rise in its preferred shares in early trading in Sao Paulo and boost the broader Bovespa index. BVSP), which fell by 0.5%. FORT WORTH, Texas — American Airlines today announced the signing of a letter of intent to further strengthen its partnership with GOL, Brazil`s largest airline. Building on the two airlines` initial codeshare offer in 2020, the expanded partnership includes an exclusive codeshare agreement, a larger and more lucrative joint partnership with SMILES and AAdvantage`® loyalty program. It is also expected to strengthen business collaboration with GOL to accelerate growth and create a more seamless experience for all customers. Last week, American Airlines announced plans to invest $200 million in Gol`s preferred shares to acquire a 5.2 percent economic stake in the Brazilian airline. The two airlines also plan to intensify their cooperation. Let`s see why this decision is so important to the long-term health of Americans. GOL becomes American`s only codeshare partner in Brazil and American becomes GOL`s only codeshare partner in the United States.
On their combined networks, customers can travel to more than 30 destinations served by American in the United States and to more than 20 new destinations in South America served by GOL. American will invest $200 million in 22.2 million newly issued preferred shares of GOL as part of a capital increase to secure a 5.2% interest in the economic interest of the Company. The completion of the agreements described in this press release, including participation in the proposed capital, is subject to conditions, including the negotiation, execution and delivery of final documents, regulatory approvals and other customary closing conditions. The largest network in America will also be the most rewarding for travelers. In 2022, GOL`s SMILES members and American`s AAdvantage Loyalty will have access to their elite benefits such as priority check-in, priority security, priority boarding, higher baggage allowance, lounge access and preferential seats on both airlines. The two airlines also plan to offer an expanded joint frequent flyer offer to give customers more opportunities to earn and redeem miles. "This codeshare agreement between two of North and South America`s leading airlines combines our highly complementary route networks to provide customers with a seamless travel experience with the largest number of flights and destinations in North and South America," said Paulo Kakinoff, CEO of GOL. "We believe this will strengthen GOL`s presence in international markets, accelerate our long-term growth and maximize value for our shareholders. This reinforces our confidence in GOL`s growth as the economy reopens and travel demand increases.
About GOL AirlinesGOL Airlines is Brazil`s largest airline, carrying more than 33 million customers a year. It is also a leader in the country`s business and leisure travel markets. In its 19-year history, the airline has played a key role in the democratization of air traffic in Brazil and has become the largest low-cost airline in the industry with the best fare in Latin America. Currently, it offers 750 daily flights to more than 100 destinations – in Brazil, South America, the Caribbean and the United States – with a standardized fleet of 125 Boeing 737s. The company maintains strategic alliances with Air France and KLM and offers its customers 14 codeshare agreements and more than 77 interline agreements that offer more convenience and ease of connection to any location served by these partnerships. With the goal of being the first for all, GOL has continuously invested in products, services and customer service to provide the best travel experience. #NovaGOL reinforces this concept and presents a leading company in various aspects - punctuality and comfort with the increased range of seats and more space between seats; Connectivity and entertainment, provides the most complete platform with internet, movies and free live TV; the offer of VIP lounges for domestic and international flights; the best loyalty program on the market - Smiles; and customer service recognized and awarded by various organizations, such as the Brazilian ANAC (National Civil Aviation Agency of Brazil), the consumer protection website Reclame Aqui and the Brazilian Forum for Customer Relations. In the field of freight transport and logistics, GOLLOG allows the acquisition, distribution and delivery of parcels for different regions of the country and abroad. Internally, GOL relies on a team of 15,000 aviation experts – highly skilled employees who are always focused on safety, the airline`s most important value. More information under www.voegol.com.br.
Last February, American and Gol announced a mutual codeshare agreement. At the time, American Airlines said the partnership would give its customers access to 20 new destinations in South America (mostly Brazil, where Gol is the largest national airline). FORT WORTH, Texas and RIO DE JANEIRO – American Airlines and GOL, Brazil`s largest airline, today announced a new mutual codeshare agreement that gives customers access to 20 new destinations in South America. American will also increase its service from Miami (MIA) to Rio de Janeiro (GIG) and will add a second daily flight this winter. The airline also plans to offer more opportunities to bring customers to Latin America via MIA by adding 12 flights from six U.S. cities. "As two of the leading airlines in Brazil and the United States, GOL and American Airlines will provide the best experience for customers on the largest number of flights and destinations in the Americas," said Paulo Kakinoff, CEO of GOL. "This will strengthen GOL`s presence in international markets and accelerate our long-term growth." Gol said the new agreement builds on an earlier codeshare agreement between the two companies and will increase options for Gol travelers on South American and North American routes. "GOL and American Airlines will now offer the most convenient flights between South America and the United States," said Eduardo Bernardes, vice president of commerce and marketing at GOL. "We have strengthened our presence at major airports to better serve our customers. The codeshare partnership will soon be expanded to more than 30 destinations in the United States. The difficulty of operating profitably in Brazil has made partnerships crucial to the success of U.S.
airlines there. Cooperation with Brazilian airlines allows them to sell connecting flights from Sao Paulo and Rio de Janeiro to secondary cities to ensure broad market coverage and fill more seats. American Airlines and GOL, Brazil`s largest airline, today announced a new mutual codeshare agreement that will allow customers to access 20 new destinations in South America. About GOL Linhas Aéreas Inteligentes S.A.GOL is Brazil`s largest airline and a leader in the business and leisure segment. Since its creation in 2001, it has been the airline with the lowest unit costs in Latin America, which has allowed the democratization of air transport. The company maintains a strategic alliance with American Airlines and Air France-KLM, offering customers numerous codeshare and interline agreements that provide greater convenience and easy connections to any location served by these partnerships. With the aim of being the first for everyone, GOL offers its passengers the best travel experience, including: the largest stock of seats and the largest legroom; the most complete platform with Internet, movies and live TV; and the best loyalty program, SMILES. In the transport of goods, GOLLOG delivers parcels in different regions of Brazil and abroad. The company has a team of 15,000 highly skilled airline professionals focused on safety, GOL`s most important value, and operates a standardized fleet of 127 Boeing 737s. GOL shares are traded on the NYSE (GOL) and B3 (GOLL4).
For more information, see www.voegol.com.br/ir. Once approved by U.S. and Brazilian authorities, American and GOL`s new codeshare will allow customers to seamlessly connect to 53 GOL flights beyond GIG, Sao Paulo (GRU), Brasilia (BSB), Manaus (MAO) and Fortaleza (FOR). .