American Airlines has completed a definitive investment agreement with GOL, Brazil’s largest airline. The combined networks will offer GOL customers over 30 U.S. destinations served by American and American’s customers over 34 new destinations in South America with GOL.
On Monday (February 7, 2022), American Airlines announced the completion of the agreement with GOL, Brazil’s largest airline, to form an exclusive partnership offering increased customer benefits. American has signed a definitive investment agreement with GOL, and the combine networks of both airlines will offer GOL’s customers seamless access to over 30 destinations in American’s U.S. network, while American Airlines’ customers will now have access to over 34 new South American destinations with GOL. American Airlines has served South America since 1942, and currently offers service to 17 destinations including São Paulo (GRU) and Rio de Janeiro (GIG) from their Dallas, Miami and New York-JFK hubs. Over the last decade, American has carried over 14 million guests between the U.S. and Brazil, more than twice as many as any U.S. airline. GOL serves over 63 destinations in Brazil and is the nation’s largest airline.
As part of the investment agreement announced last year, American Airlines will invest $200 million in 22.2 million newly issued preferred shares in GOL in a capital increase, for a 5.2 percent equity stake. During 2022, GOL’s SMILES and American AAdvantage® loyalty program members will gain status benefits on both airlines such as priority check-in, priority security, priority boarding, a larger checked bag allowance, lounge access and preferred seats. The carriers also plan on launching an enhanced joint loyalty offering which will give customers more ways to earn and redeem miles.
Founded in 2001, GOL (NYSE: GOL) is Brazil’s largest airline and a leader in the corporate and leisure segments. The carrier has the lowest unit cost in Latin America, which has enabled the democratization of air transportation. GOL has partnerships with American Airlines as well as Air France-KLM. The company has 15,000 team members and operates a standardized fleet of 127 Boeing 737s.
American Airlines’ purpose is to “care for people on life’s journey.” Shares in the American Airlines Group, Inc., trade on NASDAQ under the ticker symbol AAL and the company’s stock is included in the S&P 500.
Source: American Airlines