As of April 9, 2007, Varig S.A. is a subsidiary of GOL Linhas Aéreas Inteligentes S.A. Varig S.A. operates as an air transportation company. The company provides passenger, cargo baggage, and mail air transportation on domestic routes in Brazil and on international routes between Brazil and points in North and South America, Europe, Asia, and Africa. The company also offers warehousing, stock management, packaging, transportation, and distribution services. In addition, Varig provides aircraft and component maintenance, repair, and overhaul services. As of May 31, 2005, it operated a fleet of approximately 87 aircraft. The company was founded in 1927 and is based in Rio de Janeiro, Brazil. Varig S.A. is a subsidiary of FRB-Par Investimentos S.A. Varig S.A. filed applications in the Commercial Bankruptcy and Reorganization Court in Rio de Janeiro for the commencement of judicial reorganization proceedings in June 2005.