Varig Logística
Encyclopedia
Varig Logística S.A., operating as VarigLog, is a cargo airline
, based in Jardim Aeroporto, Campo Belo, São Paulo
, Brazil
.
and employed 1,345 staff.
VARIGLOG was purchased for US$48.2 million by the consortium Volo do Brasil in December 2005 during the split-up of the assets of Varig. Volo do Brasil comprised the MatlinPatterson Funds and the Brazilian investors Marcos Antonio Audi, Marcos Hapfel and Luiz Eduardo Gallo. The negotiation was concluded in June 2006, after strict regulatory approval, particularly concerned with the participation of foreign capital, limited by Brazilian laws to 20%.
In July 2006, Volo bought its one-time parent Varig
(the "new" Varig, founded in 2005) but less than one year later Varig was divested from the Volo group, when on March 28, 2007 Gol Linhas Aéreas Inteligentes, the parent company of budget carrier Gol Transportes Aéreos
, purchased Varig for US$320 million.
In March 2008, there were reports of asset transfers between (LC) VARIG Logistica and (JW) Arrow Air as Arrow Air Cargo was also being absorbed into the MatlinPatterson holding company but they were not implemented.
Since March 2008, VarigLog has accumulated debts with both large and small suppliers which led to the request to be placed under bankruptcy protection on March 3, 2009. The Brazilian former investors accuse MatlinPatterson of mismanagement with the intention of leading VarigLog to bankruptcy. While VarigLog is protected, the legal battle continues.
The company is in "debtor-in-possession financing
/ receivership
" at this time, and is under the direction of the successor organization to Volo, the Synergy Group
. Published reports as of October 2009 are that the Synergy Group
had acquired a controlling majority share holdings of Varig Logistica.
Between June 2007 and June 2009 VarigLog maintained an operational agreement with FedEx
in Brazil.
The fleet of VarigLog includes the following aircraft (as of November 2011):
Cargo airline
Cargo airlines are airlines dedicated to the transport of cargo. Some cargo airlines are divisions or subsidiaries of larger passenger airlines.-Logistics:...
, based in Jardim Aeroporto, Campo Belo, São Paulo
São Paulo
São Paulo is the largest city in Brazil, the largest city in the southern hemisphere and South America, and the world's seventh largest city by population. The metropolis is anchor to the São Paulo metropolitan area, ranked as the second-most populous metropolitan area in the Americas and among...
, Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
.
History
The airline started operations in September 2000 as a wholly owned subsidiary of VarigVarig
VARIG was the first airline founded in Brazil, in 1927. From 1965 until 1990 it was Brazil's leading and almost only international airline...
and employed 1,345 staff.
VARIGLOG was purchased for US$48.2 million by the consortium Volo do Brasil in December 2005 during the split-up of the assets of Varig. Volo do Brasil comprised the MatlinPatterson Funds and the Brazilian investors Marcos Antonio Audi, Marcos Hapfel and Luiz Eduardo Gallo. The negotiation was concluded in June 2006, after strict regulatory approval, particularly concerned with the participation of foreign capital, limited by Brazilian laws to 20%.
In July 2006, Volo bought its one-time parent Varig
Varig
VARIG was the first airline founded in Brazil, in 1927. From 1965 until 1990 it was Brazil's leading and almost only international airline...
(the "new" Varig, founded in 2005) but less than one year later Varig was divested from the Volo group, when on March 28, 2007 Gol Linhas Aéreas Inteligentes, the parent company of budget carrier Gol Transportes Aéreos
Gol Transportes Aéreos
Gol Transportes Aéreos is a Brazilian airline based in Comandante Lineu Gomes Square, São Paulo City, Brazil....
, purchased Varig for US$320 million.
In March 2008, there were reports of asset transfers between (LC) VARIG Logistica and (JW) Arrow Air as Arrow Air Cargo was also being absorbed into the MatlinPatterson holding company but they were not implemented.
Since March 2008, VarigLog has accumulated debts with both large and small suppliers which led to the request to be placed under bankruptcy protection on March 3, 2009. The Brazilian former investors accuse MatlinPatterson of mismanagement with the intention of leading VarigLog to bankruptcy. While VarigLog is protected, the legal battle continues.
The company is in "debtor-in-possession financing
Debtor-in-possession financing
Debtor-in-possession financing or DIP financing is a special form of financing provided for companies in financial distress or under Chapter 11 bankruptcy process. Usually, this security is more senior than debt, equity, and any other securities issued by a company...
/ receivership
Receivership
In law, receivership is the situation in which an institution or enterprise is being held by a receiver, a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights." The receivership remedy is an equitable remedy that emerged in...
" at this time, and is under the direction of the successor organization to Volo, the Synergy Group
Synergy Group
Synergy Group is a South American conglomerate owned by Bolivian-born Germán Efromovich, an entrepreneur holding dual citizenship of Colombia and Brazil. The group its headquartered in Rio de Janeiro, Brazil....
. Published reports as of October 2009 are that the Synergy Group
Synergy Group
Synergy Group is a South American conglomerate owned by Bolivian-born Germán Efromovich, an entrepreneur holding dual citizenship of Colombia and Brazil. The group its headquartered in Rio de Janeiro, Brazil....
had acquired a controlling majority share holdings of Varig Logistica.
Between June 2007 and June 2009 VarigLog maintained an operational agreement with FedEx
FedEx
FedEx Corporation , originally known as FDX Corporation, is a logistics services company, based in the United States with headquarters in Memphis, Tennessee...
in Brazil.
Destinations
As of March 2011, VarigLog operated services to the following scheduled destinations:- BelémBelémBelém is a Brazilian city, the capital and largest city of state of Pará, in the country's north region. It is the entrance gate to the Amazon with a busy port, airport and bus/coach station...
– Val de Cães International AirportVal de Cães International AirportBelém-Val de Cães/Júlio Cezar Ribeiro International Airport is the main airport serving Belém, Brazil. Val de Cães, the name of the neighborhood where the airport is located, is the most common spelling although Val de Cans is also considered correct... - BrasíliaBrasíliaBrasília is the capital city of Brazil. The name is commonly spelled Brasilia in English. The city and its District are located in the Central-West region of the country, along a plateau known as Planalto Central. It has a population of about 2,557,000 as of the 2008 IBGE estimate, making it the...
– Pres. Juscelino Kubitschek International AirportBrasília International AirportBrasília-Presidente Juscelino Kubitschek International Airport is the airport serving Brasília, Brazil. Since April 22, 1999 the airport is named after Juscelino Kubitschek de Oliveira , the 21st President of Brazil.... - CampinasCampinasCampinas is a city and municipality located in the coastal interior of the state of São Paulo, Brazil. is the administrative center of the meso-region of the same name, with 3,783,597 inhabitants as of the 2010 Census, consisting of 49 cities....
– Viracopos International Airport - FortalezaFortalezaFortaleza is the state capital of Ceará, located in Northeastern Brazil. With a population close to 2.5 million , Fortaleza is the 5th largest city in Brazil. It has an area of and one of the highest demographic densities in the country...
– Pinto Martins International AirportPinto Martins International AirportPinto Martins International Airport is the airport serving Fortaleza, Brazil. It is named after Euclides Pinto Martins a Ceará-born aviator, who in 1922 was one of the pioneers of the air-link between New York and Rio de Janeiro.... - ManausManausManaus is a city in Brazil, the capital of the state of Amazonas. It is situated at the confluence of the Negro and Solimões rivers. It is the most populous city of Amazonas, according to the statistics of Brazilian Institute of Geography and Statistics, and is a popular ecotourist destination....
– Eduardo Gomes International AirportEduardo Gomes International AirportBrigadeiro Eduardo Gomes-Manaus International Airport , is the main airport serving Manaus, Brazil. It is named after the Brazilian politician and military figure Air Marshall Eduardo Gomes .... - RecifeRecifeRecife is the fifth-largest metropolitan area in Brazil with 4,136,506 inhabitants, the largest metropolitan area of the North/Northeast Regions, the 5th-largest metropolitan influence area in Brazil, and the capital and largest city of the state of Pernambuco. The population of the city proper...
– Guararapes/Gilberto Freyre International Airport - Salvador da Bahia – Deputado Luís Eduardo Magalhães International AirportDeputado Luís Eduardo Magalhães International AirportSalvador-Deputado Luís Eduardo Magalhães International Airport , formerly called Dois de Julho International Airport is the airport serving Salvador da Bahia, Brazil...
- São PauloSão PauloSão Paulo is the largest city in Brazil, the largest city in the southern hemisphere and South America, and the world's seventh largest city by population. The metropolis is anchor to the São Paulo metropolitan area, ranked as the second-most populous metropolitan area in the Americas and among...
– Guarulhos/Gov. André Franco Montoro International AirportGuarulhos International AirportSão Paulo/Guarulhos – Governador André Franco Montoro International Airport , formerly called Cumbica Airport after the district where it is located and the Air Force Base that still exists at the airport complex, is the main airport serving São Paulo, Brazil. It is located in the adjoining...
Fleet
| Aircraft | Total | Orders | Notes |
|---|---|---|---|
| Boeing 727-200F | 1 | – | |
| Boeing 737-400F Boeing 737 The Boeing 737 is a short- to medium-range, twin-engine narrow-body jet airliner. Originally developed as a shorter, lower-cost twin-engine airliner derived from Boeing's 707 and 727, the 737 has developed into a family of nine passenger models with a capacity of 85 to 215 passengers... |
1 | – | |
| Boeing 757-200F | 1 | – | |
| Aircraft | Total | Years of operation |
|---|---|---|
| McDonnell Douglas MD-11F McDonnell Douglas MD-11 The McDonnell Douglas MD-11 is a three-engine medium- to long-range widebody jet airliner, manufactured by McDonnell Douglas and, later, by Boeing Commercial Airplanes. Based on the DC-10, it features a stretched fuselage, increased wingspan with winglets, refined airfoils on the wing and smaller... |
2 | |
External links
- Varig Logística (Archive)