GOL Linhas Aéreas Inteligentes (G3, São Paulo Congonhas) has signed a long-term exclusive strategic partnership agreement with Air France (AF, Paris CDG) and partner KLM Royal Dutch Airlines (KL, Amsterdam Schiphol) in which the Franco-Dutch carrier will invest USD100million in Gol. In its filing with the Brazilian stock market, Gol says the investment will include a subscription of GOL shares for USD52 million, representing a 1.5% equity stake. The remaining USD48million will come in the form of commercial agreements and a bonus based on the achievement of potential cost savings.
The partnership will also provide for greater coordination between the airlines' respective networks thereby increasing the number of connecting opportunities between Europe and Brazil. Exclusive codesharing between Air France-KLM and Gol will be extended to flights operated by Air France and KLM between Europe and Brazil as well as to intranational Brazilian flights operated by Gol.
Camiel Eurlings, President & CEO of KLM, will also become a member of the Alliance Committee of Gol's Board of directors.
The long-term agreement also provides for enhanced cooperation in the field of aircraft maintenance, including engines and APU, aircraft components and for overhauls.
All firms expect to obtain regulatory approval for the deal in time for the start of the World Cup in June.
