GOL, Brazil’s low-cost airline has agreed with VarigLog and Volo, the controlling shareholders of VRG Linhas Aereas S.A. (“VRG”, airline that operates the Varig brand), to acquire the total share capital of VRG.

It`s no secret that the travel industry has been struggling lately. But one segment continues to do well - the low-fare airlines such as Southwest Airlines in the United States, Ryanair and easyJet in Europe, WestJet in Canada, GOL Airlines in Brazil and Virgin Blue in Australia.