GOL To Acquire Brazilian Airline MAP Transportes Aéreos

posted on 9th June 2021 by Eddie Saunders
GOL To Acquire Brazilian Airline MAP Transportes Aéreos

GOL Linhas Aéreas Inteligentes S.A., Brazil’s largest domestic airline, today announces it has entered into an agreement to acquire MAP Transportes Aéreos Ltda., a Brazilian domestic airline with flight routes to regional destinations and São Paulo’s Congonhas Airport.

The acquisition reflects the Company’s on-going commitment to expanding the demand for passenger air transportation in Brazil and what its Management perceives to be an unparalleled market opportunity for rational consolidation in the Brazilian aviation market, as the country’s economy recovers from Covid-19.

“Over the past year, we have consistently emphasized that GOL is well-positioned for growth in the post-pandemic cycle, due to prudent financial management and proven efficient operating model, that differentiates us in the market,” said Paulo Kakinoff, CEO.

“This add-on acquisition is a significant step in our strategy of expanding network and capacity, as we look to revitalize air travel demand among leisure and business passengers.

“Thus, the Company is investing even more in the regional air transportation market with an emphasis on Brazil’s Amazon region, supporting local economic growth and strengthening our operations at Congonhas Airport.”

Kakinoff added: “We believe the acquisition of MAP is the only viable opportunity for rational consolidation in the Brazilian aviation market at present.

“Going forward, we will continue to focus on our organic growth strategy, stimulating demand to expand our network.”