I think so. They Blackstone can't have idle cash. I just read on Bloomberg that “Batista is seeking 1.2 billion reais ($550 million) for his stake in power producer Eneva SA…Patria Investimentos, a Brazilian firm owned 40 percent by Blackstone Group LP, withdrew from the negotiations because of the price being asked, the people said”
… so swapping those moneys and buying whole GFA is not off the table. IMO.
ps. aco, what's the deal with GOL i know you don't follow airlines, but is their balance sheet that much better than GFA's?