Reported 5 months ago
Shares of Brazilian airlines Azul and Gol surged after announcing a codeshare agreement that will connect their networks and frequent flyer programs, potentially sparking merger speculation. The deal covers domestic routes not served by one carrier, creating 2,700 travel routes with a single connection. Azul's shares rose over 10%, while Gol's increased by up to 19%. Analysts believe this agreement could unlock additional revenue for Azul and increase the possibility of a merger, as both airlines aim to strengthen their positions in Brazil's competitive aviation market.
Source: YAHOO