Brazilian airline GOL‘s loyalty program, Smiles, is seeing demand rebound as Brazilians are purchasing flights again. Aviation was one of the sectors most affected by the COVID-19 pandemic.
As reported by Valor Investe, Smiles’ President, André Fehlauer, was asked about the time it would take Smiles to have the BRL 1.2 billion back in its cash that was transferred in July to Gol as an advance ticket purchase agreement.
Under the deal, GOL will offer Smiles an average discount of 11% on airfare prices for the rest of 2020, and a percentage of tickets at a promotional rate until June 2023. Smiles expects to save BRL 85 million over the next three years with the redemption of airline tickets and the emergence of new sources of revenue.