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American Airlines finalises GOL stake

American Airlines finalises GOL stake

American Airlines has signed a definitive investment agreement with GOL, the largest airline in Brazil, deepening the relationship between the two carriers.

The deal is designed to create the “broadest and most rewarding network” in the Americas.

The combined networks will provide customers with more than 30 destinations in the United States served by American and more than 34 new destinations in South America served by GOL.

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American has served Latin America since 1942 and offers service to 17 destinations in South America, including Sao Paulo (GRU) and Rio de Janeiro (GIG) in Brazil, from its
United States hubs in Dallas-Fort Worth (DFW), Miami (MIA) and New York (JFK). 

GOL serves 63 destinations in Brazil.

As part of the investment agreement previously announced last year, American will invest $200 million in 22.2 million newly issued preferred shares of GOL, for a 5.2 per cent stake.