Varig from Varig, its subsidiaries, and its Star Alliance partners including flights, upgrades, holidays, hotel stays and car rentals. Smiles was part of the "new Varig" package bought by Gol Airlines. All miles were honored and eventually Smiles became Gol's own Frequent Flyer program. , Aviation Safety Network reports 39 accidents or incidents for Varig since . Varig VARIG (acronym for Viação Aérea RIo-Grandense, "Rio Grandean Airways") was the first airline founded in Brazil, in 1927. From 1965 until 1990, it was Brazil's leading airline, and virtually its only international one. In 2005, Varig went into judicial re-organisation, and in 2006
Airline air carriers, to rescheme an airlines assets into a profitable organization or liquidating an air carrier of their profitable and worthwhile routes and business operations. Thus the last 50 years of the airline industry have varied from reasonably profitable, to devastatingly depressed. As the first major market to deregulate the industry in 1978, U.S. airlines have experienced more turbulence than almost any other country or region. In fact, no U.S. legacy carrier survived bankruptcy-free. Among the outspoken critics of deregulation, former CEO of American Airlines, Robert Crandall has publicly stated: "Chapter 11 bankruptcy protection filing shows airline industry deregulation was