Rejuvenated
Jul 22, 06, 12:44 pm
July 21, 2006
Brazilian airline Varig, once Latin America's largest carrier, was sold at auction on Thursday to a local investment fund for USD$24 million, saving it from collapse for now.
A Brazilian group called Volo do Brasil, which together with US investment fund MatlinPatterson already controls Varig's former cargo unit VarigLog, was the lone bidder.
Source: Airwise (http://news.airwise.com/story/view/1153477396.html)
Brazilian airline Varig, once Latin America's largest carrier, was sold at auction on Thursday to a local investment fund for USD$24 million, saving it from collapse for now.
A Brazilian group called Volo do Brasil, which together with US investment fund MatlinPatterson already controls Varig's former cargo unit VarigLog, was the lone bidder.
Source: Airwise (http://news.airwise.com/story/view/1153477396.html)