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Mercadolibre, Brazilian airline Gol announce logistics partnership -Breaking


© Reuters. FILEPHOTO: Gol Linhas Aereas Inteligentes SA’s aircraft prepares for takeoff from Congonhas Airport in Sao Paulo (Brasil) September 11, 2017. REUTERS/Paulo Whitaker/File Photograph

SAO PAULO, Brazil (Reuters) – Mercadolibre(NASDAQ:) Inc announced Tuesday a 10-year partnership with Brazilian airline Gol Linhas Aereas Inteligentes SA for cargo transport in South America.

The deal will see Mercadolibre exclusively using six Gol Boeing (NYSE 🙂 737-808 BCF aircraft. There is also the option of adding six additional aircraft in the future, according to both companies.

The second half 2022 is the expected start of operations.

Gol announced that the company expects GOLLOG’s logistics unit to generate 100 million reais ($21.43million) more revenue over five years.

As it upgrades its aircraft fleet, it also stated it will save 25 million reais per year in 2022 and 75 millions in 2023 through the partnership.

Mercadolibre stated that it plans to double its Brazilian air cargo transport to 40,000,000 packages annually, up from the current 10 million.

($1 = 4.6654 reais)