Under a plan to restructure Varig without nationalising it, Brazil's government-owned development bank, BNDES, is offering to finance private investors willing to help recapitalise the airline. The government has frequently promised not to take over the flag carrier itself, but it still needs to find someone willing to help retire its $1 billion debt. Better news for Varig is its return to operating profitability in the third quarter with a result of 261.8 million reals ($95.7 million).

Source: Airline Business