Gol Linhas Aereas Buyback Under Consideration
The Tam Air crash revealed defects in Brazil’s civil aviation system. The system has been stressed subsequent to air traffic controller strikes and work slowdowns that have been causing mass delays and cancellations and damaged Brazilian airlines.
Gol Linhas Aereas Intelligentes SA shares dropped since Brazil’s deadliest air accident in July, when theTAM passenger jet crashed in Sao Paulo and killed 199 people.
Following the crash, President Luiz Inacio Lula da Silva responded to pressure by firing the defense minister in charge of civil aviation, and the government is imposing a plan to reduce air traffic at Sao Paulo’s Congonhas airport, the site of the crash and the nation’s busiest airport.
The family-run fund that controls the company announced it is considering a share buyback.