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
Mokulele Airlines Mokulele Airlines Mokulele Flight Service, Inc., doing business as Mokulele Airlines, Inc., is an American commuter airline based in Kona on the Big Island of Hawaii. The airline operates scheduled inter-island and charter flights primarily among Hawaii's smaller airports. The airline was founded in 1994 as Mokulele Flight Service by Rebecca "Kawehi" Inaba, and was the first airline in Hawaii to be founded by a Native Hawaiian woman. In 2005 it was acquired by Boyer Industries LLC, headed by former baggage handler turned entrepreneur William "Bill" Boyer Jr., who became the airline's CEO. The company, at this point, had a