Brazilian airline Gol's controller ends talks for potential merger with Azul

Airline Gol GOLL53 said on Thursday that its controlling shareholder, Abra Group, has notified peer Azul (AZUL.N) of its decision to end talks for a potential business combination between the two Brazilian carriers.

"The parties have not meaningfully discussed or progressed a possible business combination transaction for several months as a result of Azul’s focus on its Chapter 11," Abra told Azul in a letter, according to a Gol securities filing.