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
Hazelton Airlines its parent company in 2001, the airline was acquired by a consortium known as Australiawide Airlines and was merged with fellow Ansett subsidiary Kendell Airlines to create Regional Express. Hazelton Airlines Hazelton Air Services Pty Limited, trading as Hazelton Airlines, was an Australian regional airline which operated until 2001. It was established as an independent airline but by the end of its existence had become a subsidiary of Ansett Australia. Founded in 1953 by Max Hazelton, alongside his brother Jim, with a single Auster Aiglet aircraft offering charter services from a farm near Toogong, New South Wales, the fledgeling organisation