| Delta and GOL Create Enhanced Commercial Alliance |
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08/12/2011 04:18 (174 Day 08:33 minutes ago) | ||||
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The FINANCIAL -- Delta Air Lines and GOL Linhas Aereas Inteligentes announced an agreement for a long-term exclusive commercial alliance.
Under the agreement, Delta and GOL, which has a 40 percent market share in Brazil, will expand cooperation to leverage each other's strengths and further link Delta's expansive network with one of Brazil's largest and most successful airlines. As part of the agreement, Delta will invest $100 million in GOL and will have a seat on the GOL board of directors.Brazil's economy has undergone a remarkable period of growth in recent years with GDP at an impressive USD $3.7 trillion.
It is now the seventh largest economy in the world and predicted to soon become the fifth largest. Economic ties between the U.S. and Brazil are strong, with demand for flights between the two countries expected to grow by 11 percent over the next four years.
Brazil is destined to become the fourth largest aviation market in the world by 2014, with more than 90 million passengers, and this agreement enables Delta and GOL to better respond to customer demand. It offers comprehensive travel options not only within Brazil but to the U.S. and beyond, with Delta gaining access to GOLs extensive domestic destinations and GOL having access to Delta's unparalleled global network.
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