Brazil's GOL To Receive Equity Investment Of $200 Mln From American Airlines

(RTTNews) - Brazil's GOL Linhas Aéreas Inteligentes S.A. (GOL) agreed to expand its commercial cooperation with American Airlines Group Inc. (AAL) through a codeshare agreement for the next three years. As part of the Agreement, GOL will receive an equity investment of US$200 million from American Airlines.

GOL's network services 63 destinations in Brazil as well as 140 international through codeshare agreements. The company recently confirmed that Cancun (Mexico) and Punta Cana (Dominican Republic) will be its first international routes to reopen since the beginning of the Covid-19 pandemic. GOL will begin to operate flights on those routes by mid-November 2021.

American will invest US$200 million in 22.2 million newly issued preferred shares of GOL in a capital increase, for a 5.2% participation in the Company's economic interest at a price of US$9.00 per preferred share.