GOL entered (08-Jun-2021) an agreement to acquire MAP Linhas Aereas for BRL28 million (USD5.5 million) in cash and stock. At closing, GOL will assume up to BRL100 million (USD19.7 million) of MAP's financial obligations. The acquisition will allow GOL to:
- Expand its network with growth of approximately 10% at Sao Paulo Congonhas Airport, through 26 additional services per day;
- Offer higher seat density by substituting MAP's ATRs with Boeing 737-700s;
- Improve the cost efficiency of operations.
GOL CEO Paul Kakinoff said: "The acquisition of MAP is the only viable opportunity for rational consolidation in Brazil's aviation market". [more - original PR]