July 21, 2006	Friday	Jumadi-ul-Sani 24, 1427

RIO DE JANEIRO, July 20: A group of US-Brazilian investors on Thursday bought bankrupt Brazilian airline Varig for a knockdown $24 million ending weeks of uncertainty about the carrier.

The airline has been bought by the Volo do Brasil consortium made up of US investment fund Matlin Patterson and some Brazilian partners.

They were the only group to bid in an auction to sell the carrier, according to Carlos Alberto Barros, who organised the sale.

Varig was once the national carrier but it was placed under bankruptcy protection last year and since the end of June has only been flying to half of its usual destinations.—AFP