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
MetroJet (American airline) MetroJet (American airline) MetroJet was a no-frills airline brand operated as a wholly owned division of US Airways from 1998 until 2001. After the conclusion of painstaking labor negotiations in 1997, US Airways sought to head off burgeoning competition from low-cost carriers in its strongest region, the U.S. Northeast. Competitor Southwest Airlines was encroaching from its base in the West as were Delta Express and AirTran Airways from the South. Like them it would offer a single class of service, operate a single type of aircraft, which consisted of the Boeing 737-200, and fly a limited network, based at the