Viação Aérea São Paulo S/A, or VASP, was an airline with its main hub at Congonhas Airport São Paulo.
The airline was established in 1933 by the state government of Sao Paulo. VASP was the first airline to serve the interior of the state of São Paulo. In 1939 VASP bought Aerolloyd Iguassu, and in 1962 VASP acquired Loide Aereo Nacional which had a license to operate nationwide. VASP was therefore able to operate in the entire Brazilian territory. Under the Brazilian government’s neoliberal policies newly introduced at the time, VASP was privatized in 1990. VASP quickly expanded operations in the country, and created international routes, being the second Brazilian company to do so after 1965. However, after many years of mismanagement, financial losses, soaring debt and bad credit, in 2002 it cancelled all of its international operations to concentrate in the domestic market. The company faced its worst crisis in 2004, which led to the suspension of service to many Brazilian cities and the cancellation of flights. VASP was only allowed to operate charter services. In 2008, VASP declared bankruptcy.
Source: Wikipedia
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