It now seems that GOL, one of the largest low cost and low fare airlines in all of Latin America, and Iberia, the well known Spanish air transport group, have announced a brand new code share agreement between their two groups. The two groups went on to say that they are exploring the idea of possibility linking their frequent flier programs as well. This would link Iberia’s Plus with GOL’s SMILES.

With this brand new code share agreement, Iberia can now add its IATA code to GOL flights from Rio de Janeiro and San Paulo to 13 Brazilian destinations. This includes, but is not limited to, Curitiba, Fortaleza, Goiania, Natal, and Vitoria. Iberia passengers will be able to benefit from this deal with more flight connection options throughout Brazil. As for GOL, the agreement provides the carrier with an additional sales channel. This should increase passenger traffic and load factor for the Brazilian carrier.

Iberia, whose headquarters is in Madrid, currently offers two direct daily flights between Spain’s capital and Sao Paulo. They also offer one direct daily flight to Rio de Janeiro, operating on Airbus A340-600 and A340-300 aircrafts. Iberia is Spain’s largest carrier by far and is the fourth largest airline in all of Europe. It is currently the leading airline of European and Latin American routes in terms of flight options and destinations.

GOL will now be submitting a contract to the National Civil Aviation Agency, which is the Brazilian aviation authority, and to the Brazilian Antitrust Agency to evaluate the new agreement. However, most people think that this agreement will get the go ahead.