Brazil’s Varig Pleads for Government Cash

The chief executive of Varig, Brazil’s largest airline, called on the government to come up with enough cash to keep it afloat as it tries to restructure US$1.9 billion in debt. Marcelo Bottini said the company does not have enough cash to pay for the fuel and airport fees it needs to stay in the air. Its former logistics unit, VarigLog, offered to buy the company for US$46 million this week. Creditors, which include General Electric, Petrobras and Boeing, are threatening to ground aircraft unless the company pays them.