Global airlines are in talks with Brazil’s Gol as part of the bank’s exit, the report says via Reuters

SAO PAULO (Reuters) – The world’s major airlines are in talks with Gol to invest in the Brazilian carrier, which is undergoing Chapter 11 proceedings in the US, local newspaper Valor Economico reported on Tuesday. cite sources.

The report mentions US-based companies United Airlines and American Airlines (NASDAQ:), as well as European firms Air France-KLM, British Airways parent International Airlines Group (LON:) and Germany’s Lufthansa Group among the carriers in talks with Gol .

Valor Economico said the investment from the global airline will be made as part of Gol’s exit from Chapter 11.

The Brazilian airline, which last week announced a memorandum of understanding to explore a merger with local rival Azul, has been in Chapter 11 bankruptcy proceedings since early 2024.

A potential merger between Gol and Azul could create a dominant airline in Brazil’s domestic market, surpassing local LATAM Airlines (NYSE: ).

International airlines would like to make a deal with Gol ahead of the planned merger with Azul to strengthen their international presence at Brazil’s busiest airport, Valor Economico reports.

Gol and Air France-KLM declined to comment on the report. American Airlines said it is aware of Gol’s ongoing restructuring process, noting that it already has a commercial agreement with the Brazilian airline.

United Airlines, International Airlines Group and Lufthansa did not immediately respond to requests for comment.