Gol Linhas Aereas Inteligentes’s plans to acquire rival airline Webjet Linhas Aereas may have hit a snag, with reports Brazilian antitrust regulators Cade may block the deal.

The deal – worth R96 million ($61 million) – was announced early this month, as Gol seeks to build its market share.

However, according to reports in local newspaper Valor Economico, both parties have yet to surrender key information on the deal to civil aviation and antitrust regulators.

Cade could potentially oppose plans to eliminate the Webjet brand.

Concerns have also been raised over the potential for the Brazilian aviation market to turn into an oligopoly.

Potential Deal

Webjet - a low-cost carrier based in Rio de Janeiro and controlled by Guilherme Paulus - is Brazil’s fourth-largest airline.

It presently controls with 5.2 per cent of the country’s airline market.

The deal gives Gol access to Webjet’s slots at Brazil’s main hubs and eliminates a low-cost competitor that catered to leisure passengers.

To access all the latest information about the world’s major airlines via one mobile platform visit Airline.City.Mobi.