Azul () and Abra, the controlling shareholder of Gol (), are structuring the signing of a memorandum of understanding (MOU) in the coming weeks, with the aim of starting negotiations on a possible merger between the two companies Brazilian airlines, as determined by the newspaper Valor.
According to sources interviewed by the newspaper, the agreement still has several conditions for the business combination to be completed. Gol’s request for judicial recovery in the United States () initiated in January 2024 is what caused the signing of the memorandum to be postponed — the original prospect was to have happened in November of last year. Now, the vision is for the signature to come out in January of this year.
Also according to the report, the memo will point out the capital structure and governance of both companies, as well as reinforce the intention of the business between them.
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Behind the scenes, according to sources heard by Valor, the idea of creating a “corporation” (a company without a defined controller) is circulating more strongly. The two brands would continue to be used, following the model adopted in other recent mergers in the airline sector — as occurred in the union between Avianca and Gol, which maintained both brands. Another possibility under discussion is the formation of a joint venture between the companies, as Gol and Azul operate under the “codeshare” model (seat sharing).
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The completion of Gol’s judicial recovery in the USA, scheduled for April, would be an important milestone in the advancement of a possible agreement.
