According to a report in the local newspaper Valor Economico on Tuesday, major global airlines are in discussions with Gol, a Brazilian carrier in Chapter 11 bankruptcy proceedings in the U.S.
The report identifies U.S.-based companies United Airlines and American Airlines, as well as European firms Air France-KLM, British Airways' parent International Airlines Group, and Germany's Lufthansa Group as among the airlines engaging with Gol.
The investments from these international airlines are anticipated as part of Gol's Chapter 11 exit strategy. Gol, currently in bankruptcy proceedings since early 2024, recently revealed a memorandum of understanding with local competitor Azul.
If Gol merges with Azul, it would establish a predominant airline in the Brazilian domestic market, outpacing LATAM Airlines' local division.
Valor Economico also notes that the global airlines are keen on collaborating with Gol prior to its potential merger with Azul to solidify their international presence in key Brazilian airports.
Gol and Air France-KLM declined to provide a statement on the matter. American Airlines acknowledged Gol's restructuring process and highlighted their existing commercial agreement with the Brazilian carrier.
United Airlines, International Airlines Group, and Lufthansa did not respond immediately to interview requests.