Brazilian low-cost airline Gol Linhas Aéreas Inteligentes SA (GOL) has announced plans to merge with a privately held corporation Gol Investment Brasil (GIB), transitioning to a private company as part of a significant corporate restructuring process.
In a statement, published on October 13, 20254, GOL said that after the merger, both companies will unite under a single name, Gol Linhas Aéreas (GLA).
GOL explained that the purpose of the merger is to “reorganize the company’s operations, generate synergies and reduce costs”.
Once the merger is finalized, GLA will assume all assets and liabilities from both GOL and GIB. In return, GOL shareholders will receive new GLA shares based on a predetermined ratio, while GIB’s sole shareholder will obtain all shares initially assigned to GIB under the same conditions.
“GLA does not intend to register as a publicly held company or securities issuer,” the Brazilian airline said. “Consequently, GIB, as the controlling shareholder, will launch a public tender offer for the acquisition of shares.”
Additionally, this transition will lead to GOL no longer being a publicly traded airline, shifting to private ownership, which means its shares will be delisted from Brazil’s stock exchange.
This latest development follows GOL’s announcement that its parent company Abra Group officially ended merger talks with rival airline Azul Linhas Aéreas Brasileiras (Azul) in September 2025.
GOL saw the merger with Azul as a way to create Brazil’s biggest airline group and to handle financial challenges after both airlines went into Chapter 11. The deal collapsed because neither side has had significant discussions or made progress on a potential business combination for several months.
GOL filed for Chapter 11 in the United States in 2024 due to significant debt, reduced passenger demand, and delays in aircraft deliveries, while Azul also filed in May 2025 due to similar financial difficulties.