Delta Increases Equity Stake In Gol

Delta Air Lines has increased its equity stake in struggling Brazilian low-cost carrier GOL by purchasing stock up to $56m in shares.

Delta Air Lines has increased its equity stake in struggling Brazilian low-cost carrier GOL by purchasing stock up to $56m in shares.

As part of the agreement, GOL's controlling shareholder, the Constantino family, has committed to investing up to $90m in the airline, while Delta has pledged a loan for an undisclosed period with third-party lenders which could amount to as much as $300m.

Delta’s expansion of its share in GOL follows fellow US carrier United paying $100m for a five per cent stake in Brazilian airline Azul last month.

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