Varig received its new operating certificate last week, Merrill Lynch said. The restructuring carrier is operating 15 737-300s and up to three MD-11s to nine Brazilian destinations plus Bogota, Buenos Aires, Caracas and Frankfurt. ML said Friday that Varig must relaunch service on abandoned domestic routes by Jan. 13 or risk losing them to other Brazilian airlines. It has 180 days to restart its international operations or face the same consequence. The investment bank said, "We expect both ...

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