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 not fulfilling membership pre-requisites, and on , the IATA code RG and the callsign Varig officially ceased to exist. As a result of accumulated debts, on , at the request of the airline administrator, the 1st Business Court of Rio de Janeiro declared Flex bankrupt and initiated the process of liquidation. However, on September 10, the bankruptcy process was suspended at the request of Ruben Berta Foundation and the company returned in practical terms to recovery order status until the validity of the bankruptcy is judged. VRG Linhas Aéreas S/A was fully integrated in Gol Airlines. On , the "new"