by Deanna Palic
Brazilian carrier GOL takes over Varig
GOL, the leader of low-cost airlines in Brazil, recently took over Varig Brasilian Airlines for about $275 million in a cash-and-stock deal.
Gol said that Varig would continue as a separate brand and would keep its frequent-flyer program, offering 2-class service on long-haul routes. GOL plans to cut costs and introduce more efficient aircraft.
Along with other prosperous Latin American airlines, including LAN, Copa...
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