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GOL To Receive $200M Investment From American Airlines, Upgrades Codeshare Agreement

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  • GOL Linhas Aéreas Inteligentes S.A. (NYSE: GOL) has agreed to expand its commercial cooperation with American Airlines Group Inc (NASDAQ: AAL) through an exclusive codeshare agreement for the next three years. GOL will receive an equity investment of $200 million (R$1.05 billion) from American Airlines.

  • The agreement between GOL and American Airlines expands beyond the terms of the existing codeshare partnership in place since February 2020.

  • American Airlines will invest $200 million in 22.2 million newly issued preferred shares of GOL in a capital increase, for a 5.2% participation in the economic interest for $9.00 per preferred share.

  • The partnership also enables customers to purchase connecting flights on both airlines using one reservation.

  • GOL's Smiles and American's AAdvantage loyalty programs will be partners in the frequent flyer program in the Americas, with enhanced benefits coming in early 2022.

  • Price Action: GOL shares are trading higher by 7.92% at $7.90 and AAL higher by 0.10% at $19.23 during the premarket session on Wednesday.

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