SAO PAULO (Reuters) – Brazilian airline Gol said on Tuesday its parent company Abra Group had entered into talks with airline Azul to “explore opportunities” following media reports earlier this year indicating a potential merger.
A possible agreement between Abra Group, a Latin American aviation holding company, and Azul “would not be binding on Gol,” the securities filing added, without elaborating.
Abra Group was created in 2022 to combine Brazilian airline Gol and Colombian Avianca under a common holding company jointly controlled by the major shareholders of both companies. Abra Group is Gol’s largest secured creditor, according to securities filings.
Last week, Gol and Azul announced a codeshare agreement combining their networks and frequent flyer programs, reigniting speculation about a potential merger between the two Brazilian airlines.
Earlier this year, Gol filed for bankruptcy protection in the United States, while Azul denied negotiating any deal with Gol.