A Brazilian bankruptcy court judge granted Varig a glimmer of hope yesterday, approving an employee group's BRL1.01 billion ($445.5 million) offer for the beleaguered airline with certain conditions. NV Participacoes (TGV), composed of pilots and flight attendants, presented the only bid at last week's auction, one that fell well below the minimum (ATWOnline, June 9). Judge Luiz Roberto Ayoub ruled yesterday in Rio de Janeiro that TGV had until Wednesday to demonstrate it could amass the ...

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