Varig services to Varig. Year-long discussions to merge Varig with TAM Airlines ended unsuccessfully in 2004 and the same year Varig fell to third place in the Brazilian domestic market share, behind TAM and Gol. VARIG applied to the Commercial Bankruptcy and Reorganization Court in Rio de Janeiro on , for the commencement of "judicial reorganization" proceedings pursuant to the New Bankruptcy and Restructuring Law of Brazil (Law 11.101). The request was granted on 22 June 2005. VARIG continued to provide services despite its financial troubles. In order to raise funds, the Bankruptcy and Reorganization Court decided to sell two of
O'Connor Airlines O'Connor Airlines O'Connor Airlines was an airline based at Mount Gambier, South Australia, Australia. It operated scheduled services from Mount Gambier to destinations in South Australia and Victoria. Its main base was Mount Gambier Airport, with a hub at Adelaide Airport, which serviced Mildura Airport and Port Augusta Airport. The airline also serviced Whyalla Airport until September 2007. The airline was established and started operations in 1973. Beginning as a one-aeroplane flight school in South Australia, O'Connor Airlines developed, over some years, into a freight and passenger service flying to 18 regional and country centres across the state. This was