Gol Parent Company Starts Talks With Azul For Possible Deal

The controlling shareholder of Gol Linhas Aereas Inteligentes SA has started talks with Azul SA.

Holding company Abra Group Ltd seeks to “explore opportunities”, Gol said in a statement late Tuesday. Any potential agreement between Abra and Azul would not be binding on the company, according to the document.

Sao Paulo-based Gol is said to be in talks for a merger with rival Brazilian airline Azul. In one scenario under consideration, Abra Group would contribute its Gol shares to Azul in exchange for a stake in the combined entity. Last week, both airlines announced an agreement to connect their flight ...