MEXICO CITY (Reuters) -Airline Gol said on Thursday that its controlling shareholder, Abra Group, has notified peer Azul of its decision to end talks for a potential business combination between the two Brazilian carriers. “The parties have not meaningfully discussed or progressed a possible business combination transaction for several months as a result of Azul’s […]
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Brazilian airline Gol’s controller ends talks for potential merger with Azul
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MEXICO CITY (Reuters) -Airline Gol said on Thursday that its controlling shareholder, Abra Group, has notified peer Azul of its decision to end talks for a potential business combination between the two Brazilian carriers.
“The parties have not meaningfully discussed or progressed a possible business combination transaction for several months as a result of Azul’s focus on its Chapter 11,” Abra told Azul in a letter, according to a Gol securities filing.
(Reporting by Gabriel Araujo; Writing by Brendan O’Boyle; Editing by Jacqueline Wong)