Brazilian low-cost carrier Gol likely will emerge a much more significant force in the domestic market owing to Varig's financial problems, according to a new report from JP Morgan forecasting that Varig will reduce domestic flying 50%-100% within the year. JP Morgan's Jamie Baker pins the probability that Varig will downsize at 70%, but says a 20% probability exists that the airline will close its doors for good. Varig's capacity share of the domestic market is estimated at close to 20% ...

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