The Gol (GOLL54) and Blue (AZUL4) airlines have ended talks about a potential merger.
Companies confirmed on Thursday night that they are ending the codeshare agreement signed in May 2024 to merge their air networks in the country.
The process started in January with Abra, Gol, and Blue signing a memorandum of understanding.
The discussions were hindered because Blue was primarily focused on its Chapter 11 proceedings in the United States, as stated in the decision.
“The parties did not engage in meaningful discussions or make progress towards a potential business merger for a number of months,” Abra stated.
The companies confirmed that all tickets issued remain valid despite the partnership ending.
The result disappoints the anticipation of establishing the biggest airline in the nation. Anac data for August indicates Latam as the top airline with 41.1% market share, followed by Gol at 30.1% and Blue at 28.4%.
Cade cautioned in September against the dangers of making premature merger announcements and urged companies to establish codeshare agreements. It was predicted that any potential collaborative venture could not commence until 2026 following a regulatory evaluation.
Blue achieved a net profit of R$1.29 billion in the second quarter, recovering from its 2024 losses, while Gol decreased its losses to R$1.5 billion and exited judicial recovery in June.
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