Delta and Gol Deepen Relationship

By Paul Riegler on 13 July 2015
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GOL aircraft at Sao Paulo International Airport

GOL aircraft at Sao Paulo International Airport

Gol Linhas Aereas Inteligentes announced plans on Friday for a $146 million capital increase through the issuance of new shares to its controlling shareholder and Delta Air Lines.

Delta will buy $56 million of the newly issued preferred shares in Gol, while Brazil’s Constantino family (which owns all of Gol’s voting shares) will buy $90 million.  Gol said that Delta also plans to guarantee a term loan of up to $30 million to the airline from third-party lenders.

Delta plans to extend its partnership with Gol, which dates back to 2011 when the two airlines started a codesharing agreement following a $100 million investment by Delta in Gol.

The transactions are intended to “strengthen the airlines’ strategic alliance and enhance GOL’s financial position and liquidity,” Gol said in a statement.

(Photo: Accura Media Group)

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