[1] On 17 June 2005 the airline Varig requested to be placed under bankruptcy protection and to begin a recovery process.

This name was unveiled on 23 October 2007 during the Brazilian Travel Agents Congress, ABAV, in Rio de Janeiro.

[6] Between 17 June 2005 and 2 September 2009, Viação Aérea Rio-Grandense and later its successor since 2007, known by the brand Flex, remained in Recovery Order in the 1st Business Court of Rio de Janeiro, under the leadership of Judges Luiz Roberto Ayoub and Miguel Dau.

After the bankruptcy protection was lifted, the administration of the airline could have returned to its original owner, Fundação Ruben Berta, which still owned 87% of the shares of Varig.

[8] On 18 August 2009, Flex Linhas Aéreas had its authorization to operate non-regular passenger, cargo and postal services renewed for one year by the Brazilian Civil Aviation Agency (ANAC).

On November 10, 2009 the director, Aurélio Penelas, was replaced by Carlos Berardinelli, who was able to reach an agreement with the lessor weeks later and Flex could fly again.

[13] However, on February 1, 2010, the Flex aircraft was grounded again for delays in payment of insurance and leasing fees.

[17] Flex Linhas Aéreas operated non-regular passenger, cargo and postal services on behalf of other airlines, as contracted, Gol being its main client.

[citation needed] FLEX Linhas Aéreas offered training for activities related to the air transport industries at the Flex Aviation Center (FAC), with schools located in São Paulo and Rio de Janeiro.