Now, however, there are strong rumors floating around that Varig will cease operations sometime today - mostly because of a lack of cash. According to this source, this rumor is substantiated because:
- Top managers at Varig were warned about the situation last night and were told that all planes had to return to Rio de Janiero.
- Two U.S. court rulings allowed lessors to repossess 19 of Varig's aircraft.
- The Brazilian Ministry of Defense, which oversees civil aviation activity, called a meeting of the CEOs of all the Brazilian airlines - except Varig.