Last Thursday (23), airlines Gol e Azul surprised the market by announcing a commercial cooperation agreement that will connect their airline networks in Brazil through a codeshare. The partnership, which comes into force at the end of June this year, includes exclusive domestic routes, that is, operated by just one of the two companies, significantly increasing travel options for passengers.
With around 1,500 daily departures combined, Gol and Azul will create more than 2,700 travel opportunities with just one connection, increasing connectivity and convenience for customers. This agreement also integrates the Azul Fidelidade and Smiles programs, allowing members to accumulate points or miles in the program of their choice when purchasing flights.
The announcement came amid persistent rumors about a possible merger between the two companies. John Rodgerson, CEO of Azul, has publicly defended the consolidation of the Brazilian airline market, arguing that this would be beneficial for the sector. Gol, which has been in judicial recovery in the United States since January, has attracted the interest of several playersincluding Azul itself and a European airline, according to reports from sources in the INSIGHT periodical.
According to an April report by the Bloomberg agency, conversations between Azul and Gol have advanced, with a possible solution involving the exchange of Abra shares, holding which controls Gol and the Colombian Avianca. However, this potential “marriage” faces challenges, especially with regard to the corporate structure. Currently, around 56% of Gol’s share capital belongs to Abra, whose shareholder base includes the Constantino family, Roberto Kriete and other Avianca partners, such as the Elliott, Kingsland and South Lake funds.
The shared governance between Avianca’s partners and the Constantino family at Abra could complicate a merger, with Azul having a limited stake, less than 20%, according to estimates by industry analysts. Even so, the agreement codeshare it is already seen as a significant strategic move that could pave the way for future collaborations or mergers.
* With EXAM information
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