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
Airlines of New South Wales Airlines of New South Wales Airlines of New South Wales (also known as Air New South Wales, Ansett NSW and Ansett Express) callsign "NEWSOUTH" was an Australian domestic regional airline that operated from 1959 until its merger into Ansett in 1993. It was formed by Reg Ansett's takeover of Butler Air Transport. Airlines of New South Wales operated air passenger services in New South Wales, and later in other Australian states. In 1964–65 the airline fought a High Court case, Airlines of New South Wales Pty Ltd v New South Wales (No 2), that was significant in adjudicating the spheres