By Michael Dabaie
Brazilian airline GOL Linhas Aereas Inteligentes SA stated it has agreed to increase its business cooperation with American Airways Group Inc. by means of an unique codeshare settlement for the following three years.
As a part of the settlement, GOL will obtain an fairness funding of $200 million from American, GOL stated.
GOL American depositary receipts had been up 6% to $7.78 in premarket commerce.
The settlement expands past the phrases of the prevailing codeshare partnership between GOL and American, in place since February 2020, GOL stated.
GOL’s Smiles and American’s AAdvantage loyalty applications might be companions with enhanced advantages beginning in early 2022, GOL stated. It will embrace entry for loyalty members to precedence check-in, precedence safety, precedence boarding, a bigger checked baggage allowance, lounge entry and most well-liked seats on each airways. Prospects might earn and redeem frequent flyer miles on each airways, GOL stated.
The partnership between GOL and American additionally allows clients to buy connecting flights on each airways utilizing one reservation, along with seamless ticketing, check-in, boarding and baggage verify all through a whole journey, GOL stated.
American will make investments $200 million in 22.2 million newly issued most well-liked shares of GOL, for a 5.2% participation within the firm’s financial curiosity at $9.00 per most well-liked share, GOL stated.
Write to Michael Dabaie at [email protected]