The failure of Brazil’s state-owned airline, Varig, was a turning-point.

巴西国有航空公司Varig的失败是一个转折点。

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The failure of Brazil's state-owned airline, Varig, was a turning-point.

巴西国有航空公司巴西航空的失败是一个转折点。

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On December 19 a creditors meeting is due to vote on the recovery plan for Varig proposed by TAP.

12月19日，债权人会议将对葡航提出的收购计划进行投票。

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The formerly state-owned carrier, Varig, is badly run, bankrupt and on the auction block.

FORBES: Stepping South Of The Border

But inefficiency and the cannibalising effects of competition combined to put three of the five, Transbrasil, VASP and VARIG, out of business.

ECONOMIST: Business travel

One airline that's benefited from Varig's woes is TAM, the country's largest.

FORBES: Stepping South Of The Border