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
Sun Country Airlines the summer of 2001. After fighting to stay operational by cutting flights, destinations and planes, the company closed on December 8, 2001. During bankruptcy, Sun Country lost almost all of its 727 fleet and four recently delivered 737 aircraft. Sun Country retained one 737 as well as its operating certificate. In the following months, a local group of investors organized as MN Airlines, LLC purchased the remaining assets in bankruptcy court and restarted the airline. The airline initially operated combined charter-scheduled services from Minneapolis to casinos in Laughlin, Nevada and gradually added more charter destinations as finances allowed. Sun Country