Air France-KLM to Invest $100 Million in GOL
Air France-KLM announced plans to enter into a strategic commercial partnership with GOL Linhas Aereas Inteligentes.
Under the terms of the partnership, Air France-KLM will invest a total of $100 million in GOL. This amount will include a $52 million investment in GOL shares, which will have an equity interest of approximately 1.5%. The exact terms and conditions of the share issuance are still awaiting approval by the GOL board of directors.
In addition, Air France-KLM will provide $48 million in funding to enhance the effectiveness of the partnership.
GOL Linhas Aereas Inteligentes, which commenced operations in 2001, is the largest low-cost airline in Latin America. The airline currently offers 910 daily flights to 65 destinations in South America, the United States, and the Caribbean.
(Photo: Accura Media Group)