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VARIG |
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Layoffs aside, the company dramatically cut its domestic routes, suspended some international routes and implemented a code-sharing plan with Varig to maximize its use of flight schedules. These loans may be converted into shares of New Varig and if LAN were to exercise its option to convert the loans into stock, the Company would then have a minority stake in New Varig. Chile's LAN, Brazil's Varig and Argentina's Aerolineas Argentinas have been carrying passengers across the continent for years. |
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