Varig Creditors Approve Plan to Auction Off Embattled Airline =20 A Varig creditor attends a meeting beside a banner at an aircraft hangar at= Santos Dumont Airport in Rio de Janeiro, Brazil, on Tuesday, May 9, 2006. = Creditors meet to vote on offers to acquire the Porto Alegre, Brazil-based = carrier, Brazil's biggest international carrier, Viacao Aerea Rio-Grandense= SA, Varig, that would allow it to avert shutdown and emerge from bankruptc= y. (AP Photo/Silvia Izquierdo) Everything's Negotiable -- Buying a Car=20 Donor Eggs Become Fertile Business=20 Dow Closes Up 55, Nasdaq Finishes Down 7=20 How Many Are Hurt at the Pump?=20 Oil Exec Defends High Gas Prices=20 Be a Frequent and Frugal Flier=20 Career Concerns? Job Hassles? Join the Conversation=20 Discuss Financial Markets, Housing Industry=20 RIO DE JANEIRO, Brazil May 9, 2006 (AP)=E2=80=94 Creditors of Brazil's emba= ttled flagship airline Viacao Aerea Rio-Grandense SA on Tuesday approved a = plan to auction off the company. The plan offers potential investors the ri= ght to buy all of Varig's operations or just domestic operations, a Varig s= pokeswoman said.=20 Creditors and government officials agreed to try to sell Varig's routes and= planes for a minimum of $860 million at an auction to be held within 60 da= ys, Danielle Faissal said by telephone.=20 The buyer would form a new company, leaving most of the company's towering = debts estimated at more than $3.9 billion with the old company.=20 As a second option, Varig could auction off domestic routes for a minimum p= rice of $700 million, again leaving the debt with the old company, which wo= uld also remain responsible for international operations.=20 Varig has been in trouble for some years.=20 The airline recently had to ground planes and cancel flights because it cou= ldn't meet operating payments, and government airport authorities and fuel = suppliers had threatened to stop domestic flights because of outstanding bi= lls. Copyright 2006 The Associated Press. All rights reserved. This material may= not be published, broadcast, rewritten, or redistributed. =20 Roger & Amanda La France