Brazil’s Varig nears end of the line

Brazil’s Varig nears end of the line    Brazilian airline Varig may end operations as early as this week, according to a Knight Ridder news report on Saturday.
   The news service reported that the airline’s employees offered $449 million during an auction on Thursday, but the amount is about half of what’s required to take over Varig and keep it flying. Varig is weighed down with a $3.1-billion debt. The airline has been under bankruptcy protection since early 2005.
   “Many Brazilians would see a Varig collapse as a blow to national pride,” Knight Ridder reported. “The airline, which for years was the country’s only major international carrier, has long been considered a corporate ambassador for the country.”