American Airlines has finalized a deal in which it will
invest $200 million in Brazilian low-cost carrier Gol and develop an exclusive
codesharing agreement with the carrier, American announced on Monday.
First announced in September 2021, American in the deal,
still subject to regulatory approvals, would take a 5.2 percent stake in Gol
and have the opportunity to appoint a member of the Brazilian carrier's board
of directors.
The deal would allow the carriers to become exclusive
codeshare partners between the United States and Brazil. Combined, the carriers
operate service between 30 cities in the U.S. and 20 destinations in Brazil,
according to American.
Additionally, this year members of American's AAdvantage or
Gol's Smiles loyalty programs will be able to access status rewards on both
airlines, including preferred seating, priority check-in and boarding, lounge
access and a larger checked-bag allowance, according to American.
American initially announced
a partnership with Gol in February 2020, shortly after the Brazilian
carrier's partnership
with Delta Air Lines ended.