GOL gets ANAC approval for VRG buy

GOL Linhas Aereas
Inteligentes has received approval from the National Civil Aviation
Agency to complete the transfer of VRG to GTI S.A., a wholly owned
subsidiary of GOL Linhas Aereas Inteligentes.With this authorization, GOL
will begin executing the plan developed for VRG, which will operate with
its own brand (VARIG) and differentiated services, while incorporating the
low-cost business model from GOL Transportes Aereos S.A.
  “Anac’s authorization allows us to move forward with the acquisition of
VRG and the implementation of our efficient low-cost, low-fare model,” says
GOL’s Chief Executive Officer, Constantino de Oliveira Junior. “VARIG will
incorporate modern concepts of efficient administration and reduce
operating costs to become a competitive company, which we believe will
benefit the customer.”