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Air France-KLM cleared to invest $100 million in GOL

source: ATW

Brazil’s antitrust regulator has given the green light for Air France-KLM to invest $100 million in its newly extended partnership with Brazilian low-cost carrier GOL. In a statement, GOL said it has received “unconditional approval” for its tie-up with Air France-KLM from the Conselho Administrativo de Defesa Economica (CADE). Air France-KLM and GOL unveiled their plans to form an “exclusive long term strategic partnership” on Feb. 19, including an extension of their existing codeshare, as well as sales force and maintenance coordination. Under the agreement, Air France-KLM will invest $52 million to acquire a 1.5% stake in GOL. It will also plough a further $48 million into the partnership. The move forms part of Air France-KLM’s strategy to increase its interests in South America.

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