American Airlines Invests $200 Million in Gol and Will ‘Upgrade’ Codeshare Agreement

By Kurt Stolz on 15 September 2021
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Brazil’s Gol Linhas Aereas Inteligentes announced an exclusive codeshare agreement with American Airlines, terming the move an “upgrade,” and said that American had agreed to invest $200 million in the airline.

The two first announced an initial codeshare agreement in February 2020.  The new agreement builds on that and will increase options for both American and Gol customers on North and South American routes.

“We believe that this will bolster Gol’s presence in international markets, accelerate our long-term growth, and maximize value for our shareholders,” said Gol’s CEO, Paulo Kakinoff.

In 2019, Delta Air Lines sold its stake in Gol and ended its partnership with the airline following the acquisition of a 20% stake in Latam Airlines Group, thus paving the way for American to invest in GOL.

“We have a long and rich history in South America, and this new relationship with Gol further enhances our presence in the region,” said American’s senior vice president of network strategy, Vasu Raja, at the time the first codeshare agreement was announced.

(Photo: Accura Media Group)

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