I flew Varig on a reward ticket (thanks Aeroplan) in 2003. I flew Miami-Sao Paulo-Santiago, and then Santiago-Sao Paulo on the return. My trip was in business class.
I can't remember the plane, but business class had a 2-3-2 set up. There was very flew people in business.
I found that the food was excellent, and the service very good. And the plane did not crash, so I can only assume it was safe

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Greg