VARIG has finally been sold. In what must be considered an astute
move the bankrupt airline has been divided into two, the operating
airline itself, purchased by a consortium that already owns Vari Log,
the airline”s cargo division, and what must be termed ”old Varig” who
will take over the huge debts of Latin America's oldest carrier.
Inevitably there will be a massive clearout of staff, the new airline
only starting with 13 ”planes, but it does hold some attractive route
licences and slots. Whether London is retained initially as a
destination remains to be seen. Varig remains a member of the Star
Alliance.
http://www.varig.co.uk