GOL Lands Webjet for Less

GOL has completed its acquisition of rival Brazilian airline Webjet for a payment of BRL70m, BRL26m less than the BRL96m amount announced in July. The deal also includes the assumption of BRL215m in debt. Webjet, which was previously owned by hotel and tourism company GJP and in May cancelled IPO plans, reportedly has BRL81m in debt coming due this year, with another BRL34m in 2012. GOL previously said the purchase would be paid for in cash.