VarigLog, the former subsidiary of troubled Brazilian national carrier Varig, has bought the bankrupt airline at auction for US$ 24 million.
At the end of last year, Varig sold is maintenance arm, VEM, and cargo division, VarigLog, to Aero-Lb and Volo do Brasil, respectively.Aero-LB is a firm created by the Straus investment fund of Brazil and Reaching Force, owned in equal parts by Portugal’s TAP airline and Geocapital of Macau casino tycoon Stanley Ho.
Full article about Stanley Ho Varig
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