Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. An eleventh-hour rescue for Varig, Brazil’s flag-carrying airline, inched closer on Monday when a prospective ...

Brazilian airline Varig, which is on the verge of bankruptcy, was acquired at auction on Thursday by VarigLog, its old cargo subsidiary, for a base price of $24 million, according to EFE news wire.

Varig, once Brazils largest airline and premier international flag carrier, has been rescued from near-extinction by the owners of its former cargo-carrying subsidiary. The new owner, Varig Logistica, ...

Brazilian airline Varig was sold at auction on Thursday to Volo do Brasil, a local investment fund, for $24 million, saving the airline from collapse, at least for now. Volo has pledged $485 million ...

Varig, Latin America's oldest airline, averted liquidation as its former cargo unit agreed to invest more than $600 million to take over its operating assets and preserve many of the company's 9,500 ...

The airline was sold for $24 million to the Volo do Brasil consortium made up of US investment fund Matlin Patterson and some Brazilian partners, who recently completed a deal for VarigLog, the ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Creditors of Varig, the Brazilian flag-carrying airline under creditor protection with debts of about R$8bn ($3 ...

Gol's new long-haul unit is dropping three of its five European routes following heavy losses In a major U-turn, Brazil's Gol has decided to drop three of Varig's European routes only a few months ...

On September 3, 1989, Varig Flight 254 became lost in the Amazon rainforest, forcing a crash-landing that eventually killed twelve and stranded more than 40 people in the remote jungle. After two days ...

Varig will shut down charter subsidiary Rotatur and reorganize operations at tour unit Varig Travel as part of restructuring preparatory to its merger with TAM. Several Varig Travel branch offices in ...

VRG Linhas Aereas, using the Varig brand, has a new and more modest role in the Gol airline group. From mid-October it will operate only three medium-haul Boeing 737-800 routes: to Bogota, Caracas and ...