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Azul and Abra Open Talks to Merge as Brazil’s Biggest Airline
- Deal would need approval from Brazil’s antitrust regulators
- Gol’s parent company Abra would be biggest shareholder
Brazilian carrier Azul SA and the principal shareholder for rival Gol Linhas Aereas Inteligentes SA reached an agreement to work toward a merger, potentially creating one of the largest airlines in Latin America.
Executives from Azul and Abra Group — Gol’s largest shareholder — signed a non-binding memorandum of understanding on Wednesday, opening talks for a merger process. If the companies can obtain regulatory approval — including overcoming antitrust hurdles — Azul and Gol would join forces as a single entity with a stock listed in Brazil, according to a copy of the memo, which was published after the market closed.
