American Airlines has signed a definitive investment agreement with GOL, Brazil’s largest airline, deepening the relationship between the two carriers to create the broadest and most rewarding network in the Americas. The combined networks will provide customers with more than 30 destinations in the US served by American and more than 34 new destinations in South America served by GOL.
As part of the investment agreement previously announced last year, American will invest US$200 million (£148 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.
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 US hubs in Dallas-Fort Worth (DFW), Miami (MIA) and New York (JFK). American has flown more than 14 million customers between the US and Brazil in the last 10 years — more than twice as many as any other U.S. carrier. GOL serves 63 destinations in Brazil and is the country’s largest airline.
