GOL Gets Green Light to Buy VRG

Brazilian no-frills air carrier GOL has reportedly received approval from the National Civil Aviation Agency to complete the transfer of VRG to GTI S.A., a wholly owned subsidiary of GOL.

With this authorization, GOL will begin executing the plan developed for VRG, which will operate with its own brand (VARIG) and differentiated services, while incorporating the low-cost business model from GOL Air Transports S.A.

“ANAC’s authorization allows us to move forward with the acquisition of VRG and the implementation of our efficient low-cost, low-fare model,” says GOL’s Chief Executive Officer, Constantino de Oliveira Junior. “VARIG will incorporate modern concepts of efficient administration and reduce operating costs to become a competitive company, which we believe will benefit the customer.”