American Airlines (American) has entered into a letter of intent to further solidify its partnership with GOL, Brazil's largest airline. Building on the two carriers' initial codeshare offering in 2020, the expanded partnership includes an exclusive codeshare agreement, a larger and more lucrative joint SMILES and AAdvantage® loyalty program partnership. It also expects to increase commercial cooperation with GOL to accelerate growth and create a more seamless experience for all customers.
GOL will become American's sole codeshare partner in Brazil and American will become GOL's sole codeshare partner in the U.S. On their combined networks, customers can travel to more than 30 destinations served by American in the U.S. and more than 20 new destinations in South America served by GOL.
American will invest US$200 million in 22.2 million newly issued preferred shares of GOL in a capital increase, for a 5.2% participation in the Company's economic interest. The completion of the agreements described in this press release, including the proposed equity investment are subject to conditions, including the negotiation, execution and delivery of definitive documentation, regulatory approvals and other customary closing conditions.
