Volo deposits $200 million for Varig

Variglog deposited $200 million on Thursday to guarantee its bid for Brazilian airline Varig, a Rio de Janeiro court overseeing the restructuring of the teetering airline told Agencia Estado news agency. VarigLog is Varig’s former cargo subsidiary, acquired by Volo do Brasil late last year.

“All of the clarifications requested by the courts have been handed in and there will be no need for further explanations,” said VarigLog lawyer Leonardo Viveiros.