SAO PAULO (Reuters) – Major global airlines are in talks with Gul to invest in the Brazilian airline that is undergoing Chapter 11 bankruptcy proceedings in the United States, local newspaper Valor Economico reported on Tuesday, citing sources.
The report names US-based United Airlines and American Airlines (NASDAQ:), as well as European companies Air France-KLM, British Airways parent International Airline Group (LON:) and Germany's Lufthansa Group, among the airlines in talks with Goal. .
Valor Economico said the investments from global airlines will be as part of Juul's exit from Chapter 11.
The Brazilian airline, which last week announced a memorandum of understanding to explore a merger with local rival Azul, has been in Chapter 11 bankruptcy proceedings since early 2024.
The potential merger of Gol with Azul would create a dominant airline in the Brazilian domestic market, overtaking the domestic unit of LATAM Airlines (NYSE:).
Valor Economico reported that international airlines would be interested in concluding a deal with Gol ahead of the proposed merger with Azul to boost their international presence at some of Brazil's busiest airports.
Gul and Air France-KLM declined to comment on the report. American Airlines said it is aware of GOL's ongoing restructuring process, noting that it already has a commercial agreement with the Brazilian airline.
United Airlines, International Airlines Group and Lufthansa did not immediately respond to requests for comment.
