ABJ - December 8 - 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 per cent 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.

"GOL has been a strong partner for Delta in Brazil and Latin America. This agreement reinforces our relationship and moves Delta one step closer to achieving our goal of becoming the best U.S. carrier in the region," said Delta CEO Richard Anderson. "By forming a long-term commercial partnership, we will capitalize on the strengths of our two networks to provide expanded customer benefits and better serve the U.S.-Brazil marketplace."

"The agreement is in line with GOL's strategy of seeking out long-term partnerships and strengthening its capital structure with a focus on generating value to its shareholders," said Constantino de Oliveira, GOL CEO. "Delta's vast experience in the U.S., the industry's most developed market, combined with Brazilian commercial aviation's growth potential provides an opportunity to improve our business model and return on capital employed over the next years. Our customers will benefit from additional flight options, more flexibility and new products and services."