American Airlines Group has acquired a 5.3% stake in Brazilian domestic airline GOL by investing $200m in 22.2 million newly issued preferred shares.

GOL’s commercial cooperation with American Airlines has been expanded for three years through an exclusive codeshare agreement.

Last February, the two entities signed a definitive investment agreement to focus on establishing the ‘broadest and most rewarding network’ in North and South America.

American Airlines also entered a shareholders’ agreement with GOL’s controlling shareholder to include its member on GOL’s board of directors for the term of the exclusivity.

In a statement, GOL said: “Through its exclusivity, the Transaction expands beyond the terms of the existing codeshare partnership between GOL and American, enhancing the travel opportunities for their passengers, the customer experience and the competitive position of GOL on routes connecting North and South America.”

At present, the partnership flights operate in GOL’s hubs in São Paulo (GRU) and Rio de Janeiro (GIG), providing 34 options for Brazilian and international routes.

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By GlobalData

GOL has also partnered with American Airlines and Air France-KLM to better serve its customers.

The company claims to have been the airline with the lowest unit cost in Latin America since its foundation in 2001.

It also ships parcels across Brazil and abroad through its GOLLOG business.

In January this year, American Airlines announced a codeshare alliance with Aer Lingus to improve connectivity between the US and Europe.

Under the codeshare agreement, American Airlines will add its code to Aer Lingus flights operating between London Heathrow (LHR) and Dublin (DUB) airports.

Passengers will be able to choose codeshare flights on Aer Lingus from Dublin to Amsterdam, Birmingham, London Gatwick and Manchester, as well as from London Heathrow to Belfast City, Northern Ireland, Cork, Shannon and others.