Brazilian airline Gol approves capital increase of up to $604 mln

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Brazilian airline Gol SA said late on Thursday it approved a capital increase of up to 2.87 billion reais ($604 million) as part of a previously disclosed partnership with American Airlines.

The company said the capital increase will be of at least 948.31 million reais and up to 2.87 billion reais. Gol shareholders will have preemptive rights to subscribe for the new shares.

In September, Gol announced an exclusive three-year codeshare agreement with American Airlines, which is going to invest $200 million in the Brazilian airline.