Gol board to discuss IPO for Smiles loyalty scheme

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Gol Linhas Aereas Inteligentes has made further progress on a possible initial public offering (IPO) for its Smiles loyalty programme.

The Brazilian carrier says it has selected banks to structure the deal and it plans a company board meeting on 8 February.

Smiles was originally launched by Varig, which Gol acquired in 2007. It was expanded the following year to cover both Varig and Gol flights, before growing to include codeshare partners and credit card companies.