American Makes $200 Million Investment in Brazil’s GOL

Today, American Airlines strengthened its relationship with GOL by agreeing to a $200 million investment with Brazil’s largest airline.

In a capital increase, American receives 22.2 million freshly issued preferred shares of GOL stock, bringing its holding in the company to 5.2 percent, according to a press statement. The agreement is still subject to government and regulatory approval.

Customers will now have access to more than 30 American-served destinations in the United States, as well as more than 34 new GOL-served destinations in South America.

From its hubs in Dallas-Fort Worth, Miami, and New York-JFK, American has served Latin America since 1942, flying to 17 locations in South America, including Sao Paulo and Rio de Janeiro in Brazil.

American boasted that in the last ten years, it had transported 14 million passengers from the United States to Brazil, more than twice as many as any other U.S. carrier. In Brazil, GOL has 63 destinations.