Varig Varig's subsidiaries: After two unsuccessful attempts to auction the airline as a whole, the bankruptcy court decided to split the airline in two different judicial entities, informally known as "old" Varig and "new" Varig: Since , the former "Viação Aérea Rio-Grandense S/A" was judicially known as "Nordeste Linhas Aéreas S/A", and operated under the brand-name Flex Linhas Aéreas. On 18 August 2009, the National Civil Aviation Agency of Brazil renewed the authorization of Flex to operate non-regular passenger, cargo and postal services. Therefore, Flex operated flights on behalf of other airlines, as contracted. Between 17 June 2005 and 2 September
Sun Country Airlines full pay was restored to all employees. Employees were also promised back-pay with interest. In July 2011, Sun Country Airlines was purchased out of bankruptcy for $34 million by the Davis family, owners of Cambria, a Minnesota-based countertop company. Marty Davis, CEO of Cambria, became Chairman of Sun Country Airlines. In 2015, the board hired Zarir Erani as President and CEO of Sun Country. The airline had a net income of $27 million in 2015, followed by a 41% drop to $16 million in 2016. In July 2017, after more than a year of missed monthly earnings projections, Davis replaced