Varig Logística Varig Logística Varig Logística S.A., operating as VarigLog, was a cargo airline, based in Jardim Aeroporto, Campo Belo, São Paulo, Brazil. All operations were suspended on 1 February 2012 and on 27 September 2012 it was declared bankrupt. The airline started operations in September 2000 as a wholly owned subsidiary of Varig and employed 1,345 staff. Varig Log was purchased for US$48.2 million by the consortium Volo do Brasil in December 2005 during the split-up of the assets of Varig. Volo do Brasil comprised the MatlinPatterson Funds and the Brazilian investors Marcos Antonio Audi, Marcos Hapfel and Luiz Eduardo Gallo.
Varig Embraer. The administration of Ozires Silva, which lasted for only 2.5 years, started with major restructuring in the company, aiming at making Ruben Berta Foundation more powerful and the President-Director weaker. Also, on , all cargo operations were united under a new airline named VarigLog. Even so, the airline presented at the end of the year, for the first time in its history Exposed Net Assets of BRL148.6 million - that is, the amount of debits was greater than the amount of credits and assets. One year later, it would reach BRL523 million. In 2001, Varig saw the birth of