SAO PAULO (Reuters) – Brazilian airline Gol said on Tuesday its parent company Abra Group has started talks with airline Azul to “explore opportunities,” following media reports earlier this year that pointed to a potential merger.
A possible agreement between Abra Group, a Latin American airline holding company, and Azul “would not be binding for Gol,” it added in a securities filing but without going into further detail.
Abra Group was formed in 2022 to combine Brazilian carrier Gol and Colombia’s Avianca under a common holding company jointly controlled by the main shareholders of both firms. Abra Group is Gol’s largest secured creditor, according to the securities filing.
Last week, Gol and Azul announced a codeshare agreement connecting their networks and frequent flyer programs, a move that reignited speculation about a potential merger between both Brazilian airlines.
Earlier this year, Gol filed for bankruptcy protection in the United States while Azul denied negotiations over any deal with Gol.