Back in 2004 Gol Linhas Aereas Inteligentes, the Brazilian discount airline, listed in New York with the help of Morgan Stanley.
FORBES: Brazilian IPOs May Boom in 2011, But Not In America
One such is Gol, Latin America's first publicly traded low-cost airline, which is not allowed to sell control to foreigners.
ECONOMIST: A rash of listings and an outbreak of shareholder democracy
Last year GOL, the country's second-largest carrier and itself a budget airline, quietly bought the remnants of VARIG, the national airline that had imploded after the government refused to save it.
ECONOMIST: Business travel
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