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Brazilian carrier Gol, the largest low-cost airline in Latin America, has won approval for an alliance with Air-France-KLM.
The deal will see the Franco-Dutch carrier invest $100 million into Gol.
Brazil’s anti-trust authority gave the green light for the agreement which will enable Air France-KLM to expand into South America.
The carrier is looking to strengthen its presence in Brazil ahead of the Olympic Games in 2016 and next month’s World Cup.
Detail of the long-term strategic partnership, first divulged in February, have yet to emerge but it will include “commercial co-operation” between the carriers.
The approval came as Air France-KLM said passenger traffic rose 3% year on year in April, helped by the later timing of the Easter holiday period.