GOL Inks Cargo, Logistics Services Agreement With Mercado Livre

  • Brazil's Gol Linhas Aereas Inteligentes SA's GOL logistics business GOLLOG has signed a landmark agreement with MercadoLibre Inc MELI (Mercado Livre), which operates marketplaces for e-commerce and online auctions.
  • The ten-year agreement comprises a dedicated freighter fleet of six Boeing Co BA 737-800 BCF, slated to commence operations in 2H22. There is also the option of adding six more aircraft by 2025.
  • "GOL thanks Mercado Livre for choosing GOLLOG as its partner and for its confidence in the efficiency, standard of quality and agility of our logistics services in Brazil," said Paulo Kakinoff, GOL's CEO.
  • GOL plans to end this year with 136 aircraft in its fleet, comprising 44 Boeing 737-MAXs and 92 Boeing 737-NGs.
  • The company expects the introduction of the six-cargo aircraft to generate fleet optimization savings of ~R$25 million in 2022 and another R$75 million in 2023.
  • GOLLOG operates cargo services to 52 airports and over 3,900 destinations in Brazil.
  • Price Action: GOL shares are trading higher by 1.85% at $6.90 on the last check Tuesday.
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