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
History of American Airlines March 2012. By summer 2012, American was considering merging with another airline as part of its restructuring plan. AMR was reportedly considering merger proposals involving US Airways, JetBlue, Alaska Airlines, Frontier Airlines, and Virgin America. On July 12, 2012, US Airways filed a statement to the court, saying that it had supported an American Airlines request to extend a period during which only American could file a bankruptcy reorganization plan ("exclusivity period"); in this filing, US Airways disclosed that it was an American Airlines creditor and prospective merger partner. On August 31, 2012, American Airlines and US Airways signed a