77.1 F
New York
Wednesday, June 16, 2021

GOL Linhas [NYSE: GOL] Announces Acquisition of MAP Transportes Aéreos

Must read

VEON [NASDAQ: VEON] Announces Acquisition of AdTech in Russia

VEON Ltd disclosed that it has purchased a majority stake in OTM which is a technology platform for the automation and planning of...

MicroStrategy Decides to Sell $1B Stock With Plans To Buy More Bitcoin With Profit

Shares of MicroStrategy Incorporated skyrocketed 5.36% on Wednesday after the firm disclosed that it has decided to dump $1 billion worth of its...

Thailand SEC Forbids Crypto Exchanges from Listing Meme Tokens, NFTs, and More

Thailand SEC has made a new decision that forbids crypto exchanges to list meme tokens, NFTs, and many more. The decision to ban certain...

China’s Cryptocurrency Mining Crackdown Appears to be Widening

The cryptocurrency mining crackdown of China is continuously increasing. It has been seen that government departments in the province of Yunnan are gearing up...

Gol Linhas Aereas Inteligentes S.A. [NYSE: GOL] disclosed that it has inked an agreement to buy MAP Transportes Aéreos Ltda. The firm’s buying decision highlights the firm’s ongoing commitment to increase the demand for passenger air transportation in Brazil.

Additionally, its management notices an incomparable market opportunity for rational merging in the Brazilian aviation market, as the country’s economy improves from COVID-19.

Since its inception in 2011, MAP has gained recognition as the fifth-largest Brazilian domestic airline, with a fleet of seven 70-seat ATRs that run on routes in the Amazon region from the Manaus Airport and Brazil’s South and Southeast regions from Congonhas, the country’s largest domestic airport. Furthermore, the firm has exhibited that GOL is well-positioned for growth in the post-pandemic cycle through its performance.

GOL disclosed that there are three main advantages of this acquisition. The firm benefit is to provide new destinations and routes, as a complement to its current network at Congonhas Airport, that will offer a broader range of flight possibilities for passengers and greater expediency for clients. Moreover, this acquisition will offer higher seat density to historically underserved Markets. In addition to this, this acquisition will also enhance cost-efficient operations.

MAP will be bought for R$28 million in cash and stock. The amount to be paid upon the fulfillment of all execution provisions. It included 100,000 GOLL4 shares at R$28 per share and R$25 million in cash. This amount will be paid in twenty-four monthly installments. The firm will assume up to R$100 million of MAP’s financial commitments at execution.

More articles

Latest article

Accenture [NYSE: ACN] and Salesforce to Aid ISDI to Reduce its Environmental Impact

Accenture plc and Salesforce have partnered with ISDI to provide aid to the Salesforce-authorized global coaching organization. The firms will evaluate their carbon...

Iconix Brand [NASDAQ: ICON] to be Acquired by Iconix Acquisition Corp

Iconix Brand Group, Inc. disclosed that it has inked an agreement and plan of merger with Iconix Acquisition Corp. Iconix Brand Group is...

Binance Cryptocurrency Exchange to Launch a New NFT Platform

The Binance cryptocurrency exchange will be introducing a new on-chain NFT platform called "Featured by Binance". Cryptocurrency exchange Binance is joining the race of...

El Salvador Passes Bill to Accept Bitcoin as Legal Tender

EI Salvador has become the first country in Central America to pass the bill to accept Bitcoin as legal tender. It has been disclosed...

Gaming Platform Xaya Teams Up with Popular Ethereum Scaling Solution Polygon

Blockchain Gaming platform Xaya has joined hands with popular Ethereum scaling solution Polygon. Xaya has partnered with Polygon to improve the scalability of its...

Why CynergisTek [CTEK] is Skyrocketing Today?

CynergisTek, Inc. skyrocketed 24.73% during the trading session of Wednesday. The positive performance of the firm indicated the positive sentiments of the investors...

GOL Linhas [NYSE: GOL] Announces Acquisition of MAP Transportes Aéreos

Gol Linhas Aereas Inteligentes S.A. disclosed that it has inked an agreement to buy MAP Transportes Aéreos Ltda. The firm's buying decision highlights...

Chinese Twitter ‘Weibo’ Start Crack Down on Multiple Crypto Influencer Accounts

Chinese social media platform Weibo has started a crackdown against the multiple crypto influencer accounts. It has been disclosed that at least dozens of...