Delta buys minority stake in Brazilian airline

Discussion in 'Delta Air Lines | SkyMiles' started by sobore, Dec 9, 2011.

  1. sobore
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    sobore Gold Member

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    GOL Linhas Aereas Inteligentes SA said in a regulatory filing with the Brazilian Securities and Exchange Commission on Wednesday that Delta Air Lines will pay $100 million for a "strategic minority interest" of GOL's preferred shares.

    GOL said the investment will be in the form of American Depositary Shares.

    "This agreement reinforces our relationship and moves Delta one step closer to achieving our goal of becoming the best U.S. carrier in the region," Delta Chief Executive Officer Richard Anderson said in a statement. "By forming a long-term commercial partnership, we will capitalize on the strengths of our two networks to provide expanded customer benefits and better serve the U.S.- Brazil marketplace."

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