Air France-KLM has been granted approval to invest $100 million in Brazilian airline GOL.
In a statement GOL said that Brazil's antitrust authority had granted "unconditional approval" for the "exclusive long term strategic partnership" with Air France-KLM.
Under the agreement, Air France-KLM will invest $52 million to acquire a 1.5 per cent stake in GOL, as well as putting a further $48 million into the partnership.
The deal will enable Air France to expand into South America and also strengthen its offering in Brazil ahead of the World Cup and 2016 Olympic Games.
The deal includes an extension of their existing codeshare agreement, as well as sales force and maintenance coordination.
Airfrance.com
GOL.com