SAO PAULO Gol Linhas Aéreas Inteligentes SA, Brazil's No. 2 airline, plans to reorganize a customer loyalty subsidiary, tapping significant tax savings from a simplified corporate structure, according to a securities filing on Tuesday.
According to the filing, the loyalty unit known as Smiles SA (SMLE3.SA) said the proposal hinges on shareholder approval and involves it being taken over by a Gol subsidiary known as Webjet Participações SA. The proposal will be submitted to shareholders of Smiles at an extraordinary assembly on June 30, the filing said.
(Reporting by Guillermo Parra-Bernal)