Aerovias Brasil Aerovias Brasil Empresa de Transportes Aéreos Aerovias Brasil S/A was a Brazilian airline founded in 1942. It was merged into Varig in 1961, when Varig bought the Consórcio Real-Aerovias-Nacional, of which Aerovias Brasil was one of the partners. Aerovias Brasil was founded on August 26, 1942, as part of an ambitious project of TACA Airlines: the creation of one national airline in each Latin American country. Therefore, two of the shareholders of Taca had 66.6% of the shares whereas 33.4% belonged to 29 Brazilian share-holders being the brothers Oscar and Roberto Taves the most important. Later, the brothers would leave
Varig 2009, "old Varig" remained in Recovery Order in the 1st Business Court of Rio de Janeiro, under the leadership of Judges Luiz Roberto Ayoub and Miguel Dau. After the bankruptcy protection was lifted, the administration of the airline could have returned to its original owner, Fundação Ruben Berta, which still owed 87% of the shares of Varig. However, Fundação Ruben Berta preferred to keep a judicial administrator. In September 2006 "old" Varig sold its participation in PLUNA (49% of the shares) to the Uruguayan Government. On , Varig Brazilian Airlines ("old" Varig) was suspended from membership in Star Alliance for